Are there any successful crypto adjacent projects that do well outside the crypto-sphere? As soon as I notice the word crypto, I think the project will go the way of the dodo. But maybe I'm biased.
Saying that most crypto projects end up failing is about as interesting as saying that everyone who lives in the mountains ends up dying. The vast majority of projects fail in general.
Even so, the AUM of the underlying hedge fund has been going up. They've stopped publishing the fund's performance, though, so it's a little unclear if the increase is due to good performance or if they've just attracted more investors.
Yet it's obvious why it's stupid to say that everyone who lives in the mountains ends up dying. The majority of projects fail, but we see successful projects all around us. I don't see any related to cryptocurrency. In fact, I've only ever seen them adopted as speculative investments.