{"id":45951,"date":"2026-06-04T05:00:42","date_gmt":"2026-06-04T05:00:42","guid":{"rendered":"https:\/\/cryptd.in\/crypto-is-a-failed-asset-class-says-renowned-economist\/"},"modified":"2026-06-04T05:00:42","modified_gmt":"2026-06-04T05:00:42","slug":"crypto-is-a-failed-asset-class-says-renowned-economist","status":"publish","type":"post","link":"https:\/\/cryptd.in\/sv\/crypto-is-a-failed-asset-class-says-renowned-economist\/","title":{"rendered":"Crypto Is A \u2018Failed\u2019 Asset Class, Says Renowned Economist"},"content":{"rendered":"

Economist and macro trader Alex Kr\u00fcger has argued that \u201ccrypto\u201d has largely failed as an asset class, even as blockchain-based adoption accelerates across stablecoins, tokenization, prediction markets, perps, AI and privacy-focused assets.<\/p>\n

In a post<\/a> on X, Kr\u00fcger drew a sharp distinction between the speculative crypto market of recent cycles and the parts of the industry he believes are still showing meaningful traction. His central claim was blunt: most crypto tokens have failed to produce durable value for holders, while founders and insiders have repeatedly used the sector\u2019s weak guardrails to extract liquidity from retail investors.<\/p>\n

\u201cI largely think of \u2018crypto\u2019 as a failed asset class at this point,\u201d Kr\u00fcger wrote. \u201cI\u2019ve written about the causes multiple times. Mainly, most crypto assets are worthless, or have dreadful value accrual, and most founders have abused the lack of guardrails and dumped on people indiscriminately, or are outright scammers.\u201d<\/p>\n

Kr\u00fcger said the damage was compounded by what he called the \u201cMemecoins SuperBullshitCycle,\u201d describing it as a speculative trend that \u201cbrought the worst out of people\u201d and drained both capital and morale from market participants. He also pointed to \u201cthe never-ending wave of DeFi hacks<\/a>,\u201d which he said has increased sharply since last April, as another factor weighing on crypto\u2019s credibility as an investable asset class.<\/p>\n

Kr\u00fcger Sees Adoption Rising, But Not In \u201cOld Crypto\u201d<\/h2>\n

The economist acknowledged that his assessment may seem contradictory, given that several blockchain-linked sectors are still expanding rapidly. He cited growing stablecoin adoption, openly pro-crypto politicians in the United States, TradFi\u2019s push to tokenize assets, rising usage of equities and commodities perps on offshore and DeFi venues, the early development of US perps markets, and the increasing presence of prediction markets in everyday information flows.<\/p>\n

But Kr\u00fcger framed many of those trends as \u201cmore \u2018blockchain\u2019 than \u2018crypto\u2019,\u201d suggesting that the infrastructure and application layer may be advancing while the legacy token market remains structurally weak. In his view, the key exception is where tokens have clearer links to revenue, user demand or capital return mechanisms.<\/p>\n

\u201cA few among those exceptions even distribute most revenue to holders via buybacks,\u201d he wrote, naming Hyperliquid in particular<\/a>. \u201cWhich is what every investor actually wants to see to be invested in a good business rather than a fleeting narrative.\u201d<\/p>\n

That distinction sits at the core of Kr\u00fcger\u2019s argument. He is not saying that blockchain-based markets are dead. Rather, he is saying that broad, narrative-driven crypto exposure has failed to deliver the kind of value accrual investors were promised, while a narrower group of sectors has begun to resemble operating businesses or infrastructure plays.<\/p>\n

Privacy And AI Stand Out<\/h2>\n

Kr\u00fcger identified privacy as one of the few \u201cold school\u201d crypto categories that remains relevant. He argued that demand for private, non-custodial stores of value is real, even if part of that demand comes from illicit flows. He referenced the US Department of Justice\u2019s confiscation of $15 billion in Bitcoin from Cambodia-linked pig butchering operations<\/a>, saying the legal filing was submitted on October 8, 2025.<\/p>\n

\u201cOf course, everyone needs privacy, not just criminals, but crime flows are real, and large,\u201d Kr\u00fcger wrote. \u201cThe asset attracting the most flows in this niche is Zcash. Zcash\u2019s recent performance<\/a> has been fascinating, as it has been trending higher with bitcoin trending lower, a sign of real reallocation among bitcoiners.\u201d<\/p>\n

The other category Kr\u00fcger said is not dead is AI. Still, his view of the sector was selective. He described most AI tokens as \u201chigh flying, fundamentally lacking, narrative driven tokens,\u201d while naming Venice as a standout because he sees it as tied to a private AI platform with growing users and revenue.<\/p>\n

That leaves Kr\u00fcger with a more nuanced conclusion than the headline claim alone suggests. He sees the old token market as broken, but not the broader direction of crypto-enabled infrastructure. Stablecoins, tokenized assets, prediction markets, perps, AI and privacy may form the sector\u2019s next investable narrative, provided the tokens attached to them can show actual value capture rather than recycled speculation.<\/p>\n

\u201cSo one could say old \u2018crypto\u2019 is a failed asset class,\u201d Kr\u00fcger wrote, \u201cbut from the ashes come new beginnings, and the new face of crypto is one heavily dominated by the needs of Tradfi, prediction markets, AI, and privacy.\u201d
\nHis closing line captured the contradiction he sees in the market: \u201cCrypto sucks. Long live crypto.\u201d<\/p>\n

At press time, the total crypto market cap was at $2.28 trillion.<\/p>\n

\"Total<\/p>","protected":false},"excerpt":{"rendered":"

Economist and macro trader Alex Kr\u00fcger has argued that \u201ccrypto\u201d has largely failed as an asset class, even as blockchain-based adoption accelerates across stablecoins, tokenization, prediction markets, perps, AI and privacy-focused assets. In a post on X, Kr\u00fcger drew a sharp distinction between the speculative crypto market of recent cycles and the parts of the […]<\/p>\n","protected":false},"author":1,"featured_media":45953,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-45951","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-feeds"],"yoast_head":"\nCrypto Is A \u2018Failed\u2019 Asset Class, Says Renowned Economist - cryptd.in<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptd.in\/sv\/crypto-is-a-failed-asset-class-says-renowned-economist\/\" \/>\n<meta property=\"og:locale\" content=\"sv_SE\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crypto Is A \u2018Failed\u2019 Asset Class, Says Renowned Economist - cryptd.in\" \/>\n<meta property=\"og:description\" content=\"Economist and macro trader Alex Kr\u00fcger has argued that \u201ccrypto\u201d has largely failed as an asset class, even as blockchain-based adoption accelerates across stablecoins, tokenization, prediction markets, perps, AI and privacy-focused assets. In a post on X, Kr\u00fcger drew a sharp distinction between the speculative crypto market of recent cycles and the parts of the […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/cryptd.in\/sv\/crypto-is-a-failed-asset-class-says-renowned-economist\/\" \/>\n<meta property=\"og:site_name\" content=\"cryptd.in\" \/>\n<meta property=\"article:published_time\" content=\"2026-06-04T05:00:42+00:00\" \/>\n<meta name=\"author\" content=\"cryptd.in\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Skriven av\" \/>\n\t<meta name=\"twitter:data1\" content=\"cryptd.in\" \/>\n\t<meta name=\"twitter:label2\" content=\"Ber\u00e4knad l\u00e4stid\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minuter\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/crypto-is-a-failed-asset-class-says-renowned-economist\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/crypto-is-a-failed-asset-class-says-renowned-economist\\\/\"},\"author\":{\"name\":\"cryptd.in\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/#\\\/schema\\\/person\\\/7973e8183bc6723b86adfe84d5af0ce4\"},\"headline\":\"Crypto Is A \u2018Failed\u2019 Asset Class, Says Renowned Economist\",\"datePublished\":\"2026-06-04T05:00:42+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/crypto-is-a-failed-asset-class-says-renowned-economist\\\/\"},\"wordCount\":759,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/#organization\"},\"image\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/crypto-is-a-failed-asset-class-says-renowned-economist\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cryptd.in\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/ChatGPT-Image-3.-Juni-2026-14_42_31-KDBK9h.png\",\"articleSection\":[\"Feeds\"],\"inLanguage\":\"sv-SE\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/cryptd.in\\\/crypto-is-a-failed-asset-class-says-renowned-economist\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/crypto-is-a-failed-asset-class-says-renowned-economist\\\/\",\"url\":\"https:\\\/\\\/cryptd.in\\\/crypto-is-a-failed-asset-class-says-renowned-economist\\\/\",\"name\":\"Crypto Is A \u2018Failed\u2019 Asset Class, Says Renowned Economist - cryptd.in\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/crypto-is-a-failed-asset-class-says-renowned-economist\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/crypto-is-a-failed-asset-class-says-renowned-economist\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/cryptd.in\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/ChatGPT-Image-3.-Juni-2026-14_42_31-KDBK9h.png\",\"datePublished\":\"2026-06-04T05:00:42+00:00\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/crypto-is-a-failed-asset-class-says-renowned-economist\\\/#breadcrumb\"},\"inLanguage\":\"sv-SE\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/cryptd.in\\\/crypto-is-a-failed-asset-class-says-renowned-economist\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"sv-SE\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/crypto-is-a-failed-asset-class-says-renowned-economist\\\/#primaryimage\",\"url\":\"https:\\\/\\\/cryptd.in\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/ChatGPT-Image-3.-Juni-2026-14_42_31-KDBK9h.png\",\"contentUrl\":\"https:\\\/\\\/cryptd.in\\\/wp-content\\\/uploads\\\/2026\\\/06\\\/ChatGPT-Image-3.-Juni-2026-14_42_31-KDBK9h.png\",\"width\":750,\"height\":422},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/crypto-is-a-failed-asset-class-says-renowned-economist\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/cryptd.in\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Crypto Is A \u2018Failed\u2019 Asset Class, Says Renowned Economist\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/#website\",\"url\":\"https:\\\/\\\/cryptd.in\\\/\",\"name\":\"cryptd.in\",\"description\":\"Alternative LinkedIn for Crypto-friendly Talents\",\"publisher\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/cryptd.in\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"sv-SE\"},{\"@type\":\"Organization\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/#organization\",\"name\":\"cryptd.in\",\"url\":\"https:\\\/\\\/cryptd.in\\\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"sv-SE\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/#\\\/schema\\\/logo\\\/image\\\/\",\"url\":\"https:\\\/\\\/cryptd.in\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/cryptdin_logo.jpg\",\"contentUrl\":\"https:\\\/\\\/cryptd.in\\\/wp-content\\\/uploads\\\/2024\\\/05\\\/cryptdin_logo.jpg\",\"width\":900,\"height\":900,\"caption\":\"cryptd.in\"},\"image\":{\"@id\":\"https:\\\/\\\/cryptd.in\\\/#\\\/schema\\\/logo\\\/image\\\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/#\\\/schema\\\/person\\\/7973e8183bc6723b86adfe84d5af0ce4\",\"name\":\"cryptd.in\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"sv-SE\",\"@id\":\"https:\\\/\\\/cryptd.in\\\/wp-content\\\/litespeed\\\/avatar\\\/0b38230b9c4987de71d8ea131b2d0c60.jpg?ver=1780422885\",\"url\":\"https:\\\/\\\/cryptd.in\\\/wp-content\\\/litespeed\\\/avatar\\\/0b38230b9c4987de71d8ea131b2d0c60.jpg?ver=1780422885\",\"contentUrl\":\"https:\\\/\\\/cryptd.in\\\/wp-content\\\/litespeed\\\/avatar\\\/0b38230b9c4987de71d8ea131b2d0c60.jpg?ver=1780422885\",\"caption\":\"cryptd.in\"},\"sameAs\":[\"http:\\\/\\\/cryptd.in\"],\"url\":\"https:\\\/\\\/cryptd.in\\\/sv\\\/author\\\/cryptd-in\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Crypto Is A \u2018Failed\u2019 Asset Class, Says Renowned Economist - cryptd.in","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/cryptd.in\/sv\/crypto-is-a-failed-asset-class-says-renowned-economist\/","og_locale":"sv_SE","og_type":"article","og_title":"Crypto Is A \u2018Failed\u2019 Asset Class, Says Renowned Economist - cryptd.in","og_description":"Economist and macro trader Alex Kr\u00fcger has argued that \u201ccrypto\u201d has largely failed as an asset class, even as blockchain-based adoption accelerates across stablecoins, tokenization, prediction markets, perps, AI and privacy-focused assets. In a post on X, Kr\u00fcger drew a sharp distinction between the speculative crypto market of recent cycles and the parts of the […]","og_url":"https:\/\/cryptd.in\/sv\/crypto-is-a-failed-asset-class-says-renowned-economist\/","og_site_name":"cryptd.in","article_published_time":"2026-06-04T05:00:42+00:00","author":"cryptd.in","twitter_card":"summary_large_image","twitter_misc":{"Skriven av":"cryptd.in","Ber\u00e4knad l\u00e4stid":"4 minuter"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/cryptd.in\/crypto-is-a-failed-asset-class-says-renowned-economist\/#article","isPartOf":{"@id":"https:\/\/cryptd.in\/crypto-is-a-failed-asset-class-says-renowned-economist\/"},"author":{"name":"cryptd.in","@id":"https:\/\/cryptd.in\/#\/schema\/person\/7973e8183bc6723b86adfe84d5af0ce4"},"headline":"Crypto Is A \u2018Failed\u2019 Asset Class, Says Renowned Economist","datePublished":"2026-06-04T05:00:42+00:00","mainEntityOfPage":{"@id":"https:\/\/cryptd.in\/crypto-is-a-failed-asset-class-says-renowned-economist\/"},"wordCount":759,"commentCount":0,"publisher":{"@id":"https:\/\/cryptd.in\/#organization"},"image":{"@id":"https:\/\/cryptd.in\/crypto-is-a-failed-asset-class-says-renowned-economist\/#primaryimage"},"thumbnailUrl":"https:\/\/cryptd.in\/wp-content\/uploads\/2026\/06\/ChatGPT-Image-3.-Juni-2026-14_42_31-KDBK9h.png","articleSection":["Feeds"],"inLanguage":"sv-SE","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/cryptd.in\/crypto-is-a-failed-asset-class-says-renowned-economist\/#respond"]}]},{"@type":"WebPage","@id":"https:\/\/cryptd.in\/crypto-is-a-failed-asset-class-says-renowned-economist\/","url":"https:\/\/cryptd.in\/crypto-is-a-failed-asset-class-says-renowned-economist\/","name":"Crypto Is A \u2018Failed\u2019 Asset Class, Says Renowned Economist - cryptd.in","isPartOf":{"@id":"https:\/\/cryptd.in\/#website"},"primaryImageOfPage":{"@id":"https:\/\/cryptd.in\/crypto-is-a-failed-asset-class-says-renowned-economist\/#primaryimage"},"image":{"@id":"https:\/\/cryptd.in\/crypto-is-a-failed-asset-class-says-renowned-economist\/#primaryimage"},"thumbnailUrl":"https:\/\/cryptd.in\/wp-content\/uploads\/2026\/06\/ChatGPT-Image-3.-Juni-2026-14_42_31-KDBK9h.png","datePublished":"2026-06-04T05:00:42+00:00","breadcrumb":{"@id":"https:\/\/cryptd.in\/crypto-is-a-failed-asset-class-says-renowned-economist\/#breadcrumb"},"inLanguage":"sv-SE","potentialAction":[{"@type":"ReadAction","target":["https:\/\/cryptd.in\/crypto-is-a-failed-asset-class-says-renowned-economist\/"]}]},{"@type":"ImageObject","inLanguage":"sv-SE","@id":"https:\/\/cryptd.in\/crypto-is-a-failed-asset-class-says-renowned-economist\/#primaryimage","url":"https:\/\/cryptd.in\/wp-content\/uploads\/2026\/06\/ChatGPT-Image-3.-Juni-2026-14_42_31-KDBK9h.png","contentUrl":"https:\/\/cryptd.in\/wp-content\/uploads\/2026\/06\/ChatGPT-Image-3.-Juni-2026-14_42_31-KDBK9h.png","width":750,"height":422},{"@type":"BreadcrumbList","@id":"https:\/\/cryptd.in\/crypto-is-a-failed-asset-class-says-renowned-economist\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/cryptd.in\/"},{"@type":"ListItem","position":2,"name":"Crypto Is A \u2018Failed\u2019 Asset Class, Says Renowned Economist"}]},{"@type":"WebSite","@id":"https:\/\/cryptd.in\/#website","url":"https:\/\/cryptd.in\/","name":"cryptd.in","description":"Alternativ LinkedIn f\u00f6r kryptov\u00e4nliga talanger","publisher":{"@id":"https:\/\/cryptd.in\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/cryptd.in\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"sv-SE"},{"@type":"Organization","@id":"https:\/\/cryptd.in\/#organization","name":"cryptd.in","url":"https:\/\/cryptd.in\/","logo":{"@type":"ImageObject","inLanguage":"sv-SE","@id":"https:\/\/cryptd.in\/#\/schema\/logo\/image\/","url":"https:\/\/cryptd.in\/wp-content\/uploads\/2024\/05\/cryptdin_logo.jpg","contentUrl":"https:\/\/cryptd.in\/wp-content\/uploads\/2024\/05\/cryptdin_logo.jpg","width":900,"height":900,"caption":"cryptd.in"},"image":{"@id":"https:\/\/cryptd.in\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/cryptd.in\/#\/schema\/person\/7973e8183bc6723b86adfe84d5af0ce4","name":"cryptd.in","image":{"@type":"ImageObject","inLanguage":"sv-SE","@id":"https:\/\/cryptd.in\/wp-content\/litespeed\/avatar\/0b38230b9c4987de71d8ea131b2d0c60.jpg?ver=1780422885","url":"https:\/\/cryptd.in\/wp-content\/litespeed\/avatar\/0b38230b9c4987de71d8ea131b2d0c60.jpg?ver=1780422885","contentUrl":"https:\/\/cryptd.in\/wp-content\/litespeed\/avatar\/0b38230b9c4987de71d8ea131b2d0c60.jpg?ver=1780422885","caption":"cryptd.in"},"sameAs":["http:\/\/cryptd.in"],"url":"https:\/\/cryptd.in\/sv\/author\/cryptd-in\/"}]}},"_links":{"self":[{"href":"https:\/\/cryptd.in\/sv\/wp-json\/wp\/v2\/posts\/45951","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptd.in\/sv\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptd.in\/sv\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptd.in\/sv\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptd.in\/sv\/wp-json\/wp\/v2\/comments?post=45951"}],"version-history":[{"count":0,"href":"https:\/\/cryptd.in\/sv\/wp-json\/wp\/v2\/posts\/45951\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptd.in\/sv\/wp-json\/wp\/v2\/media\/45953"}],"wp:attachment":[{"href":"https:\/\/cryptd.in\/sv\/wp-json\/wp\/v2\/media?parent=45951"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptd.in\/sv\/wp-json\/wp\/v2\/categories?post=45951"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptd.in\/sv\/wp-json\/wp\/v2\/tags?post=45951"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}