According to 1kx’s annual report, real-economy applications, including tokenized assets and payments, generated 22% of industry revenue in the third quarter of 2026, compared with 21% for blockchain infrastructure. This first reversal comes as total industry revenue is estimated at about $100 billion for 2026, down 28% from $140 billion in 2025. Spending on digital-asset payment cards reached $3.4 billion, while trading in tokenized stocks on Robinhood Chain exceeded $13 billion. Public companies captured 16% of blockchain revenue in 2026, up from 7% in 2022, and 283 protocols returned value to holders during the third quarter. Transaction fees collected by blockchains now account for less than 3% of industry revenue.
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