IoT is already a thing. Mostly it is just a marketing term for what has been going on for a while.
Experts estimate that the IoT will consist of about 30 billion objects by 2020.
The big change for me came with the release of the ESP8266, a micro controller with a full TCP/IP stack that only cost a few dollars.
I won't have a lot of interest in IOTA for IoT until it can be implemented on a ESP8266.
I may try IOTA on a Raspberry Pi in a Donkey Kong cabinet. I tried to mod it so it could take bitcoin a few years ago, but at the time transaction fee for $0.25 was 100%, so it was almost $0.50 to play a game, and confirmation time was also an issue. Confirmation need to happen in a few seconds for the vending machine type use case.
Looks like IOTA lost over $800,000,000 in market cap since June 13.
Current IOTA market cap is $925,000,000.
IOTA market cap was 1,774,740,000 on June 13, the first entry I find here.
The valuation seems crazy high. I guess that is because all tokens have been mined already, so you multiply tokens(2,779,530,283) times price($0.33) to get the valuation($925,141,639). Seems like it will continue to go down.