a16z crypto said one of blockchain’s core strengths is its ability to create entirely new markets. In its view, permissionless issuance and global distribution remove several long-standing constraints found in traditional finance, including listing committees, legal frameworks, and geographic fragmentation. That shift allows market supply to align more closely with potential demand around the world. The firm said this mechanism has benefited many of crypto’s best-known market segments, including perpetual futures, spot decentralized exchanges, prediction markets, lending, meme coins, NFTs, and tokenized real-world assets. It described perpetuals as the clearest example of the trend, adding that on-chain RWA perpetual trading reached an annualized $1.4 trillion in July this year, or about half of Hyperliquid’s volume. With mechanisms such as HIP-3 and HIP-4 lowering the barriers to launching markets, a16z crypto expects on-chain markets to expand into commodities, foreign exchange, indexes, 24/7 stock exposure, and risk assets such as CPI, compute power, music, social trends, and sports that previously lacked mature financial expression.
Odaily reported that a16z crypto said one of blockchain’s core values is the ability to create entirely new markets.
The firm said permissionless issuance and global distribution allow blockchain-based markets to break through constraints that have long shaped traditional finance, including listing committees, legal frameworks, and geographic fragmentation. In its view, that makes market supply better matched to potential demand worldwide.
Crypto market segments highlighted by a16z crypto
a16z crypto said the mechanism has benefited nearly every representative market in the crypto sector, including perpetual futures, spot decentralized exchanges, prediction markets, lending, meme coins, NFTs, and the tokenization of real-world assets.
Perpetuals seen as the clearest example
The firm described perpetuals as the most direct expression of the trend. In July this year, annualized on-chain RWA perpetual trading volume reached $1.4 trillion, equal to roughly half of Hyperliquid’s trading volume.
Where on-chain markets could expand next
As mechanisms such as HIP-3 and HIP-4 lower the barrier to launching markets, a16z crypto expects on-chain trading venues to expand into commodities, foreign exchange, indexes, 24/7 stock exposure, and risk assets that previously lacked mature financial expression, including CPI, compute power, music, social trends, and sports.
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