Venture capital firms are undergoing a significant shift in their approach to crypto investments, moving away from speculative ventures and towards more stable, revenue-generating projects. This change is attributed to the increasing maturity of the market, according to Eva Oberholzer, chief investment officer at Ajna Capital. Oberholzer points out that this phase echoes trends observed in other technological sectors as they mature. The focus has shifted from impulsive investments based on hype to projects with solid business models and expected revenue streams, driven by institutional adoption rather than fleeting trends like memecoin rallies. 2021’s bull market is a prime example of this shift. Traditional financial players like Wall Street firms are increasingly seeking crypto businesses offering established income streams. Consequently, VC firms are directing their attention towards stablecoin projects and other payment infrastructure investments that generate fees. Real-world asset tokenization (RWA) platforms are also gaining traction due to their revenue models for minting and managing tokenized assets on the blockchain. 2023 is proving to be a year of realignment, as seen in the growing interest from Wall Street toward Ethereum (ETH), particularly for its potential to generate earnings through staking. This aligns with traditional investors’ expectations of revenue-generating companies.