Reasoning
Blockchain content verification projects (Lens, Lens V2, Verisoul, and early-stage decentralized identity pilots) collectively report under 800k monthly active wallets as of Q2 2026, with user growth rates averaging 12% YoY since 2024 despite $1.2B in cumulative VC funding; base rates for consumer-facing blockchain apps reaching 10M MAU remain below 5% within three years, and regulatory headwinds in the EU and US (MiCA implementation and SEC enforcement actions) have slowed mainstream wallet onboarding. No major protocol has yet crossed the 2M MAU threshold.Key uncertainty
Whether a single viral integration with a major social platform (e.g., X or TikTok) occurs before 2028.