Nikolic challenges a recent CoinDesk op-ed, declaring crypto's rock 'n' roll era is over - and argues it's the best thing for the industry.
Mar 15, 2026, 7:30 p.m.
Leah Callon-Butler recently wrote that crypto's rebellious, cypherpunk phase has ended. Nikolic agrees - but warns the metaphor goes deeper. He lived through the music industry’s collapse during the torrent era as a product lead at Universal Music. Executives sued customers instead of innovating. They lost relevance - until they absorbed streaming and rebranded it as their own.
Now, JP Morgan is doing the same with crypto: wrapping decentralized innovations into institutional products. ETFs, custody solutions, and tokenized assets signal that capital has arrived - and it’s staying.
But the real innovation is happening in the quiet. Stablecoins move value across borders. Self-custody tools improve. Tokenized assets reach underserved markets. Just like bedroom producers fractured music’s monoculture, developers in Lagos, Buenos Aires, and Beirut are building on open rails no boardroom controls.
Nikolic grew up in Argentina, where he saw money erased overnight. He knows: the people who build plumbing in silence matter most when crisis hits.
The culture may be less flashy, but the infrastructure is real. Crypto’s next era isn’t about vibes - it’s about viability.