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I assume that's what companies like Anchor Watch realized, never really bothering with a consumer facing product. Go find the custodians (because at the end of the day somebody has to hold the keys).
Yea AnchorWatch went about it pretty intelligently for the most part I think, go where the money is, and I assume they make a vig on the insurance service. Taproot nerdsnipe shenanigans notwithstanding.
Even if there was a monetization model for normie self storage, how much could it be? Maybe a few hundred thousand people doing self-custody at an average of 10-100k in storage? What could they possibly pay? What percentage of them actually become customers?
One large custodian > thousands of Joe seed phrase.
FWIW I think these AI pivots are the same thing, it's a commodity... you can get TEE endpoints on pretty much any AI router platform which is all these startups are wrapping basically.
If they show competence there's a snowballs chance some megacorp brings them in to localize their workloads.
I've never actually built a cold storage product, but, was not too long ago approached by a large law firm that was going to have to deal with a lot of coin as a fiduciary... like... ALOT.
I don't know how many people they talked to or who they eventually went with, they were with a large exchange and there was potential they kept it that way, but the contract would have funded open source product development for basically ever
That's the only kind of dividend I think one should expect from building such things, showing competency and proof-of-work so that you're in the mix for big deals.
The issue with that is you have to have the "if you build it they will come" mentality, not easy to do in terms of resources or mentally.