Institutionalization Drives Disclosure And Ir Standardization
Sources: 1 • Confidence: Medium • Updated: 2026-04-11 16:44
Key takeaways
- Blockworks launched a product called Blockworks Investor Relations (Blockworks IR) aimed at standardized, transparent, data-driven investor-facing reporting for onchain businesses.
- Ippolito claims the number of tokens increased by about 35 million over the last couple of years while total market cap was roughly flat over the last four years.
- The debuted Blockworks IR platform includes a branded investor-relations website intended to centralize protocol information in one place, analogous to a public company's IR page.
- Ippolito claims the historical relationship where onchain revenue tracked token price broke in 2025, with revenues at record levels while token prices did not respond.
- Ippolito predicts that within roughly two years protocols and exchanges will shift from traditional quarterly IR materials toward proactive, personality-driven, real-world event-style investor engagement with live-updating data.
Sections
Institutionalization Drives Disclosure And Ir Standardization
- Blockworks launched a product called Blockworks Investor Relations (Blockworks IR) aimed at standardized, transparent, data-driven investor-facing reporting for onchain businesses.
- Blockworks IR is presented as a three-part stack: standardized data support, IR services (such as quarterly reports and earnings calls), and an end-to-end IR platform to manage the workflow.
- The debuted Blockworks IR platform includes a branded investor-relations website intended to centralize protocol information in one place, analogous to a public company's IR page.
- Ippolito states investor expectations in crypto are shifting toward more transparency, standardization, and professionalism as institutional capital increases.
- Ippolito asserts that standardized and accessible information is now table stakes for token issuers and that the industry should lead on basic disclosure rather than waiting for regulators to mandate it.
Token Universe Dilution And Concentration Of Outcomes
- Ippolito claims the number of tokens increased by about 35 million over the last couple of years while total market cap was roughly flat over the last four years.
- Ippolito claims the average market cap per token is down about 50% from 2021 levels.
- Ippolito claims that after adjusting for token supply inflation, the average token price is down about 80%.
- Ippolito claims that since 2022, token cohorts show declines across market cap, average price, and median price, and that Bitcoin is the main asset that has worked.
- Ippolito claims that an institutional bull market has not benefited most tokens despite broader positive crypto developments.
Onchain Transparency Shifts Ir From Data Access To Interpretation And Workflow
- The debuted Blockworks IR platform includes a branded investor-relations website intended to centralize protocol information in one place, analogous to a public company's IR page.
- Ippolito argues that because onchain business activity is visible in real time, the investor-relations problem is translating raw onchain data into a clear, credible investor narrative.
- The platform is described as providing engagement analytics and investor identification insights based on onchain behavior to help protocols target and understand their investor base.
Fundamentals To Price Link Break And Trust As Binding Constraint
- Ippolito claims the historical relationship where onchain revenue tracked token price broke in 2025, with revenues at record levels while token prices did not respond.
- Ippolito attributes token underperformance to a trust problem driven by both market issues (too many assets and unclear value accrual) and information issues (missing data, lack of disclosures, and non-standard reporting).
- Ippolito argues that poor information and lack of transparency contribute to bad market structure and enable avoidable industry "own goals."
Automation And Eventization Of Crypto Ir
- Ippolito predicts that within roughly two years protocols and exchanges will shift from traditional quarterly IR materials toward proactive, personality-driven, real-world event-style investor engagement with live-updating data.
- Blockworks plans to deliver a forthcoming "Blockworks agent" described as an AI-like assistant intended to reduce reliance on expensive external IR firms.
Watchlist
- Ippolito predicts that within roughly two years protocols and exchanges will shift from traditional quarterly IR materials toward proactive, personality-driven, real-world event-style investor engagement with live-updating data.
Unknowns
- What pricing model, contract structure, and service-level commitments does Blockworks IR use (platform subscription vs services retainer vs mixed), and what is the typical cost to a protocol?
- What exact metrics and definitions are included in the "standardized data" layer (e.g., revenue/fees definitions, treasury, emissions, vesting, supply), and are they auditable/reproducible from onchain sources?
- Do the asserted token supply and performance statistics (token count increase, per-token market cap decline, inflation-adjusted average price decline, cohort underperformance) match independently verifiable datasets?
- Is the claimed 2025 break between onchain revenue and token prices broad-based across sectors or concentrated in specific categories of tokens?
- What evidence demonstrates that improved disclosure and reporting standards causally improve token liquidity, valuation, or cost of capital rather than merely improving communications?