Yat Siu, co-founder of Animoca Brands, said in an interview that the crypto industry is at a tipping point similar to the one he observed in the 1990s when the internet first changed commerce. The first part of mass crypto adoption in 2025 is stablecoin adoption, and the next step is scaling memecoin more broadly to the entire blockchain ecosystem. "I expect memecoins to launch their own L1 or L2," says Mr. Siu. "They are no longer just tokens, they are building communities and ecosystems, and memecoins are essentially cultural symbols. They are grabbing attention and building narratives that resonate with people outside of financial speculation."