Multicoin Capital states that the next phase of user growth in the crypto industry may come from the "Internet Labor Markets (ILM)" model, where users earn tokens by providing labor, resources, or skills rather than purchasing crypto assets upfront. This model allows participants to earn token rewards through data labeling, sharing bandwidth, or completing other online tasks, with blockchain automatically verifying work and settling payments instantly. Multicoin believes that such networks could drive the crypto industry from primarily speculative trading toward a global digital labor market, combined with demands like AI data labeling. (CoinDesk)