A question I have been thinking about repeatedly recently: What will be the engine of the next bull market?
Here are my thoughts:
Possible narrative/section
L1/L2/L3
Lsd / Rwa
Meme
Gamefi / NFT / On-chain game
Ordinals / Brc20
Defi 1.0 / Perp
Gamblefi / Tele / Dis bot
The most likely leader
L2
On-chain game
Ordinals / Brc20
reason
Looking back at the bull market, ICO in 2017 and defi summer in 2020 have three things in common:
Old technology, new gameplay
New narrative, new hope
Generate new assets in batches and list them on exchanges in batches
What is "old technology, new gameplay"?
From the birth of eth to the ICO craze, and the construction of defi from 2017 to the uni moment of 20 years, they first completed the accumulation of solid basic technology, and then the explosion of applications and gameplay.
What is “New Narrative, New Hope”?
This narrative must be completely new and unprecedented; the gameplay must also be completely new, giving the leeks a brand new fantasy. Otherwise, it is difficult to create a long enough slope for people of all levels to get on board one after another, and for the snowball to roll big enough to form potential energy.
What is “new assets, batch listing”?
The fomo trend can only be formed if it is coordinated with the benefit effect at the national level and a group of assets are used to enrich a group of people.
A new round of bull market, several guesses:
The batch-produced L2 replaces the position of the previous round of L1 solunavax, becoming the sector with the largest volume, fastest growth and greatest potential besides Btc/Eth; On-chain game (non-gamefi) combines with the Ponzi core to produce a new round of stable calculation and axie; Ordinals/Brc20/Btc L2, due to its unique btc ecological characteristics, has a batch of new assets and the wealth-creating effect of the above.
Some friends said that the current market value of L2 is too high. In fact, except for the leading $arb $op, L2 is already being mass-produced:
Base, opBNB, Paradigm-invested NFT project ZORA, Loot ecosystem project Adventure Gold DAO, Gitcoin-supported public goods service project Public Goods Network (PGN), head options project Lyra, well-known on-chain data dashboard Debank, etc.