By Alex Svanevik

Compiled by: Felix, PANews

On October 6, Alex Svanevik, CEO of crypto analytics firm Nansen, shared his views on the future of crypto on the social media platform X. Svanevik highlighted six narratives that he believes will play a key role in shaping the next cycle of the crypto industry.

Alex Svanevik has more than ten years of experience in the data, analytics, and crypto industries. He has been the CEO of Nansen, a Singapore-based company, since October 2019. Prior to joining Nansen, Svanevik was the founder and data scientist of D5 (The Data Science DAO), a decentralized organization designed to accelerate data science initiatives. Alex Svanevik has also served as Chief Data Scientist at CoinFi and has been a member of the Wallet Connect board of directors since February 2022. His rich experience gives Alex Svanevik considerable voice in the fields of crypto and data science.

Combining traditional finance with cryptocurrency

Svanevik pointed out that traditional fintech platforms are increasingly incorporating cryptocurrencies into their systems. For example, PayPal launched its own stablecoin; British digital bank Revolut launched staking services, including ETH, ADA, DOT, etc. In addition, emerging crypto startups (such as BasedApp) are already similar to traditional fintech products in terms of user experience. Svanevik predicts that in the long run, crypto technology will become the underlying infrastructure for fintech services.

Gambling is being disrupted by DeFi

According to Svanevik, the gambling and betting industry is ripe for disruption by DeFi. Instead of earning spreads from bets, platforms have the potential to generate revenue from capital gains. Svanevik also highlighted how Layer2 solutions and account abstraction can help improve the user experience of using applications. He cited LooksRare's Yolo as well as platforms such as Rollbit and PoolTogether as examples.

RWA and Stablecoins

Svanevik discussed the growing importance of RWAs, especially Treasury bills (T-bills), in the crypto ecosystem. He believes that tokenized treasuries could have a significant impact on the supply of stablecoins. Companies such as Superstate, Mountain Protocol, and OpenEden are expected to emerge in 2024. Svanevik also speculated that stablecoin providers such as Circle and Tether may enter this field.

Web3 Games

Web3 games are another area that Svanevik is optimistic about. He mentioned that several games have been in development for more than two years and are expected to be released in the next six months. Although he does not expect many games to be successful, some games may be very popular. In addition, Svanevik expressed support for projects such as SIPHER Odyssey, MixMob, and Axie Infinity.

SocialFi

Speaking of SocialFi, Svanevik said data has shown that platforms like friend.tech are gaining market attention. He believes that Layer2 solutions and account abstraction will make these platforms more accessible to users. Svanevik expects SocialFi to go through multiple iterations and forks, but the development cycle will be longer.

Physical NFTs are becoming more popular

Svanevik concluded by talking about the potential of physical NFTs. He mentioned that innovators like Luca Netz have paved the way for mainstream adoption, while companies like IYK are helping others experiment in this space.