The blockchain space is witnessing a rapid commercialization, driven by the significant reduction in the cost and entry barriers to building a blockchain. This shift is transforming the industry, as applications are now seeking to establish their own value capture chains. Richard Chen, a partner at 1confirmation, believes that the distinction between infrastructure and applications will become increasingly blurred as applications seek to have their own value capture chains.

This trend is evident in the recent collaboration between friend.tech and Conduit to develop Friendchain, using FRIEND as a Gas token. This move is a strategic step towards leveraging the benefits of blockchain technology, further emphasizing Chen's point about the rapid commercialization of the blockchain space. The development of Friendchain is a clear indication of the growing trend of applications seeking to establish their own value chains within the blockchain space.

The commercialization of the blockchain space is driven by the increasing adoption of blockchain technology across various industries. As more applications seek to establish their own value chains, the lines between infrastructure and applications are becoming less distinct. This trend is expected to continue, further driving the commercialization of the blockchain space.

The rapid commercialization of the blockchain space is also driven by the increasing availability of blockchain development tools and platforms. These tools and platforms have made it easier for developers to build and deploy blockchain-based applications, reducing the barriers to entry and increasing the adoption of blockchain technology.

Ultimately, the commercialization of the blockchain space is a testament to the growing mainstream acceptance of blockchain technology. As more applications seek to establish their own value chains, the industry is expected to continue evolving, with the lines between infrastructure and applications becoming increasingly blurred.