This phenomenon may even apply to companies outside the crypto space as a response to the increased market efficiency driven by the spread of the Internet and artificial intelligence. It is worth mentioning that this is very similar to the operating model of airlines in the real world - because airlines' profit margins are extremely low, most of their value comes from their loyalty programs, such as for Delta Air Lines (Delta) , their main product is no longer the flight itself, but Delt...

This phenomenon may even apply to companies outside the crypto space as a response to the increased market efficiency driven by the spread of the Internet and artificial intelligence. It is worth mentioning that this is very similar to the operating model of airlines in the real world - because airlines' profit margins are extremely low, most of their value comes from their loyalty programs, such as for Delta Air Lines (Delta) , their main product is no longer the flight itself, but Delt...