In early 2024, the venture capital firm A16z Crypto predicted that the crypto industry was on the cusp of a new era of mass consumer adoption. As set out in the book Read Write Own, authored by one of the firm’s partners, decentralized blockchain-based apps would come to challenge a host of social media and other services. That era, though, has yet to materialize. Instead, the dominant trend in crypto has been Wall Street’s rapid adoption of blockchain, as A16z Crypto’s Guy Wuollet explained on the latest episode of Fortune’s Crypto Playbook, which you can hear on Apple, Spotify, or YouTube.