Alex Svanevik, CEO of on-chain data platform Nansen, recently shared his thoughts on the future development of the encryption industry on X (the predecessor of Twitter), pointing out 6 areas that may play an important role in the next market cycle.
(This article is the translation and key compilation of Lian News. If you have any questions, please refer to the original text.)
Been asked about crypto going forward.
Below are 6 themes I think will play a role in the next cycle.
— Alex Svanevik (@ASvanevik) October 6, 2023
Nansen CEO: Areas that will play an important role in the next market cycle
1. Fintech front-end + encryption back-end
Alex means to combine Fintech platforms with encryption systems, just like PayPal launched the stable currency PYUSD, and digital bank Revolut launched a staking service.
In addition, Alex believes that Web3 startup BasedApp is already similar to Fintech products, and in the long term, encryption systems will replace the backend of the existing Fintech industry.
2. Gambling and Betting
Alex believes that with the DeFi ecosystem as the backend of the gaming industry, platform development will be more reasonable. The platform no longer earns interest differentials through bets, but profits through capital gains.
As L2 and account abstraction technologies continue to evolve, more users will be able to use these platforms.
Alex proposed three cases, namely LooksRare’s YOLO, Rollbit and PoolTogether.
3. RWA (Real World Assets), especially Treasury Bills
Alex believes that RWA protocols Superstate, Mountain Protocol and OpenEden will emerge next year, and tokenized treasury bills will have a large impact on the supply of stablecoins.
In response to this phenomenon, Alex speculates that Circle and Tether may get involved in this field.
4. Web3 games
Although the topic of Web3 games has been mentioned many times in the crypto industry, Alex believes that the next 6 months will see the launch of games that have been in development for more than 2 years.
Most of these games will fail, but a few will be huge successes.
Alex recommends games: shooting game SIPHER Odyssey, racing game MixMob and the well-known Axie Infinity.
5. SocialFi
Alex believes that friend.tech does have real use cases from on-chain data. Similarly, the gradual maturity of L2 and account abstraction technology will also bring more users into contact with this field.
However, Alex feels that the SocialFi platform still needs to go through several iterations and bifurcations before it has a chance to mature.
6. NFT combined with entities
Alex brought up Pudgy Penguins, which attracted community attention when it was put on Walmart shelves a while ago, and believed that it is a model of physical NFT.
Alex believes that companies like IYK that combine NFT with physical objects will bring more such experiences to more projects.
(Related reading: Pudgy Penguins continues to expand its toy business! It is available in 2,000 Walmart stores in the United States, and the price exceeds 5ETH)
This article Nansen CEO’s point of view｜Which crypto areas are worth paying attention to in the next market cycle? First appeared in Chain News ABMedia.