Chris Dixon, a partner at a16z and leader of a16z crypto, argues against the premature notion that non-financial applications of cryptocurrency are dead. In his article "The Long Game of Cryptocurrency," Dixon emphasizes that while blockchain is currently finance-centric, this phase is crucial for proving its ability to coordinate people and capital at an internet scale. He suggests that non-financial applications have yet to emerge due to immature infrastructure, user base, and trust. As stablecoins, payments, and DeFi bring more users on-chain, sectors like media, gaming, and AI will gradually develop. Dixon also highlights the importance of a clear regulatory framework, noting that the swift shift in stablecoin regulation exemplifies the "long-term investment + policy window" approach, which could be mirrored in future market structure legislation.