Blockchain information analytics platform Nansen’s CEO Alex Svanevik simply outlined six themes that he thinks will play a task within the subsequent “cycle” within the crypto market through a Tweet thread.
Many analysts speak about macro themes equivalent to potential easing of rates of interest from the Fed and different main central banks, extra certainty relating to crypto laws, and elevated institutional adoption as spot crypto ETFs achieve approval as main drivers of the subsequent bull run.
However the themes Svanevik outlined had been extra nuanced and crypto sector-specific. Look at them one after the other.
Fintech Adoption Crypto as A Backend
Svanevik famous that main fintech corporations are more and more transferring in direction of utilizing blockchain as their primary backend.
PayPal has already launched a stablecoin and Revolut is already letting its customers stake ETH, he famous.
Fintech corporations are interested in blockchains due to their potential to supply full transparency, enhanced safety, censorship resistance, quick and low cost transactions that provide zero cross border frictions.
“Lengthy-term, crypto replaces the backends for fintech,” Svanevik famous.
Playing And Betting Shifting to Blockchain
Gambling and betting “simply makes much more sense with a DeFi backend,” Svanevik famous, explaining that “as an alternative of home taking a variety”, protocols can “dwell off the yields on capital”.
Crypto casinos have been an enormous success in 2023, with the likes of Rollbit seeing explosive consumer progress.
In the meantime, a brand new Telegram-based crypto On line casino known as TG.Casino is presently having fun with a extremely profitable presale, having final raised over $725,000 to energy its new platform.
Web3 can remedy a variety of issues which have plagued the normal playing business by offering better transparency, safety and providing an avenue to gamble with out having to surrender custody of your funds.
Actual World Property (RWAs)
Svanevik predicts that real-world property will more and more transfer on-chain, significantly US authorities bonds or “t-bills”.
Given they’re yield-bearing, Svanevik hypothesized that on-chain t-bills will ultimately eat up a considerable portion of the stablecoin provide.
He famous he “can be shocked if @circle (and) @Tether_to don’t transfer right here”.
The overall market cap of all USDT and USDC presently in issuance was final round $110 billion.
Web3 Gaming
Svanevik admitted that he has been touting the potential of web3 gaming for a while, however famous that, “within the subsequent 6 months, we’ll see video games launch after 2+ years of constructing”.
He famous he’s backing Sipher Odyssey, MixMob and Axie Infinity.
SocialFi
Given the latest progress of protocols equivalent to buddy.tech, Svanevik famous he expects SocialFi to be a significant pillar of future crypto progress.
Recent reports recommend that the event staff behind buddy.tech has amassed practically $20 million in income since its launch in August.
At its present tempo, the platform is projected to generate an annualized income of $180 million.
“It’ll take a number of iterations (and forks), however I feel this (SocialFi) is right here to remain”, he famous.
Bodily NFTs
Svanevik hailed Pudgy Penguins’ Luca Netz as “exhibiting us the trail to Walmart” for NFTs.
Pudgy Toys are now available across 2,000 Walmarts in the USA.
As per Walmart, “every toy has an official, scannable, redeemable code that unlocks digital penguin customization utilizing totally different trait bins”.
“That means, you may get hold of uncommon and epic traits and have a one-of-a-kind perpetually Pudgy Penguin registered to your title on the blockchain”.