Thousands of existing tokens will be lost and the number of blockchain platforms will decrease significantly. CNBC says some experts working in the cryptocurrency market are like that.

Web3 Foundation chairman Bertrand Perez believes there is “too many blockchains and tokens” in the industry right now:

“Just like in the early days of the internet there were many dot-com companies and many of them were scams, didn’t add any value and they all disappeared. We now have very useful and legitimate companies.”

Ripple CEO Brad Garlinghouse admitted that “dozens” of cryptocurrencies will remain on the market in the future:

“There is a question, do we need 19,000 new ones? [цифровых] currencies. There are about 180 currencies in the fiat world.”

Earlier, Guggenheim investment director Scott Minerd described most cryptocurrencies as “garbage” and said that only Bitcoin and Ethereum will “survive” in the crypto winter.