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Internet Capital Markets: The Next Big Thing?

May 15, 2025 â‹…  15 min read

nternet capital markets are reshaping how value is created and exchanged online, with platforms like Believe enabling anyone to tokenize ideas, products, or communities. While the model has sparked explosive growth and cultural relevance, it remains contentious—hailed by some as a new frontier in capital formation and dismissed by others as thinly veiled speculation. The future of the trend will hinge on whether projects can deliver lasting utility and economic sustainability beyond early hype.
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AJC is a Research Manager at Messari for the Enterprise team. His primary focuses are on Bitcoin and DeFi. Prior to joining Messari, AJC wrote an independent crypto blog.

Former research Analyst at Messari with a passion for all things crypto, specifically DeFi and NFTs.

Prior to joining Messari, Chris was the Growth Lead at a Paradigm and a16z-backed gaming startup called LootRush. His primary focus is Consumer Products, Music x Crypto, Gaming, Digital Art, and market buying local tops.

Mike Kremer is a full time data engineer and a part time degen. His primary interest in crypto is in creating tools that empower the individual. Outside of crypto he loves to be outside and listen to music.

Mentioned in this report

About the authors

AJC is a Research Manager at Messari for the Enterprise team. His primary focuses are on Bitcoin and DeFi. Prior to joining Messari, AJC wrote an independent crypto blog.

Former research Analyst at Messari with a passion for all things crypto, specifically DeFi and NFTs.

Prior to joining Messari, Chris was the Growth Lead at a Paradigm and a16z-backed gaming startup called LootRush. His primary focus is Consumer Products, Music x Crypto, Gaming, Digital Art, and market buying local tops.

Mike Kremer is a full time data engineer and a part time degen. His primary interest in crypto is in creating tools that empower the individual. Outside of crypto he loves to be outside and listen to music.

Mentioned in this report