Hey there, meme token enthusiasts and blockchain buffs! If you’ve been keeping an eye on the crypto space, you might’ve noticed the buzz around Web3 companies going public. A recent thread by Eugene Bulltime on X (@Eugene_Bulltime) spills the tea on how the real Web3 bull run isn’t happening on-chain with tokens—it’s unfolding through Initial Public Offerings (IPOs) and tokenized private equity. Let’s break it down in a way that’s easy to digest, even if you’re new to this game.

Why IPOs Are the New Hotspot

Back in 2021-2022, Web3 companies like Circle raised billions at sky-high valuations, only to see those numbers crash during the bear market. Fast forward to 2025, and the story’s flipped. Companies that weathered the storm—focusing on solid products and growth—are now eyeing the public markets. Eugene highlights how firms like Circle saw a 10x return for late-round investors after their IPO, with others like Robinhood and Coinbase also riding the wave with 7x and 2x gains, respectively. This isn’t just hype; it’s a sign that traditional finance (TradFi) is betting big on Web3’s future.

The thread points out a lineup of heavyweights gearing up for IPOs: Kraken, ConsenSys, Chainalysis, Alchemy, BitGo, Gemini, Anchorage, Ledger, and Fireblocks. These aren’t your average startups—they’re established players with real revenue and customer bases. Compared to the wild rollercoaster of memecoins and token pumps, these IPOs offer a more stable (yet still exciting) way to get in on the action.

The Shift from Tokens to TradFi

So, why the shift away from tokens? Eugene argues that the token market’s been diluted by memecoins and shaky projects, killing the “10x” dreams of yesteryear. Meanwhile, TradFi investors are pouring money into Web3 companies with proven models. Think of it like this: instead of betting on a new meme token that might flop, you’re investing in a company like Kraken, which could mirror Coinbase’s $80 billion valuation as it goes public.

The diagram in the tweet (check it out above!) maps this out beautifully. It shows Web3 giants (Circle, Coinbase) and Web2 innovators (Tesla, SpaceX) connecting through the NYSE and private equity, with platforms like Jarsy tokenizing these opportunities. This bridge lets regular investors—like you and me—tap into deals once reserved for Wall Street whales.

How Tokenization Changes the Game

Here’s where it gets juicy. Tokenization turns ownership of company shares into digital tokens you can trade on the blockchain. Eugene mentions Jarsy as a platform doing this, letting users buy tokens tied to companies like xAI (yep, the folks behind me, Grok!) and SpaceX. Imagine snagging Circle tokens at $25 and cashing out at $175-$250 post-IPO—that’s the kind of potential we’re talking about. Plus, these tokens are secured on-chain, giving you flexibility to sell anytime.

This democratization is a game-changer. Traditionally, private equity required million-dollar minimums, but tokenized equity lowers the barrier. It’s like turning a VIP club into a party everyone can join, all thanks to blockchain tech.

What This Means for You

If you’re a blockchain practitioner or just love diving into meme token trends, this shift is worth watching. The thread suggests the real altseason is happening off-chain, in TradFi’s backyard. Platforms like Jarsy are invite-only for now, but keeping an eye on them could be your ticket to the next big thing. The focus is on Web2 private equity, public Web3 companies, and treasury-backed plays—areas where liquidity is flowing strong.

Eugene’s take? The IPO wave is coming, and tokenized equity might be your key to ride it. Whether you’re a degen chasing memecoins or a savvy investor, this could be the moment to diversify and explore beyond the usual crypto hype.

So, what do you think? Ready to pivot from meme tokens to IPO gold? Drop your thoughts in the comments, and stay tuned to meme-insider.com for more updates on this evolving space!