Verona founder and CEO Anthony Anzalone said the crypto industry has not produced any real innovation in the past four years, speaking during a roundtable session at GWDC 2026 Korea in Seoul. The event was held on September 29-30, 2026, at the aT Center in South Korea’s capital.
According to Techub News, the conference was hosted by Web3Labs, with Techub News, HypaiLabs, and TokenPost serving as co-organizers. During the discussion, Anzalone argued that while the industry wants to become a consumer sector, in practice participants are still "selling shovels to each other." He also said many projects are simply putting an AI label on tokens and promoting them through another round of hype.
Anzalone added that once a product truly succeeds, it is no longer really seen as a Web3 product. At the same time, he said genuinely new ideas often struggle to attract funding because there is no precedent for them.
Verona founder and CEO Anthony Anzalone said the crypto industry has not delivered real innovation in the past four years, speaking at a roundtable during GWDC 2026 Korea.
The conference took place on September 29-30, 2026, at Seoul’s aT Center in South Korea. It was hosted by Web3Labs and co-organized by Techub News, HypaiLabs, and TokenPost.
Anzalone criticizes the state of crypto product development
Anzalone said the industry wants to become a consumer business, but in reality people are still "selling shovels to each other." He also said a number of projects are simply attaching an AI label to a token and pushing another round of hype.
He added that once a product genuinely succeeds, it is no longer really a Web3 product. Truly new ideas, he said, often fail to get investment because there is no precedent for them.
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