uni built the swap primitive
aave built the lending primitive
hyper built the perps primitive
FWA is building the gacha primitive
$2.8b
$1.3b
$53b
$20m!
grillion
FWA just flipped base in 7d revenue
believe it or not
we're still early
i know a lot of ppl are excited about getting the poly airdrop and probably won't like reading this
but imo an L2 governance token can't justify a multi-billion valuation for a crypto consumer app
they've already raised multiple private rounds and sold equity to investors
$200m @ $1b
$2b @ $9b
$1b @ $15b
equity vs token battle again!
and eventually equity holders win because they have the legal edge and capture the cash flow while token holders get some governance and in-app utilities
just my guess tho
no idea how this ends
maybe the polymarket team has something else in mind
hopefully!
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