What's the next narrative for cryptocurrency?
TechFlow Selected TechFlow Selected
What's the next narrative for cryptocurrency?
Seven areas of particular interest to capital.
Navigating Web3 tides with focused insightsWritten by: Blockworks
Translated by: TechFlow intern
Here are seven areas receiving particular attention from capital:
L2
Cross-chain bridges
Storage
DAOs and social tokens
GameFi
Derivatives
Lending
L2
Ethereum L2 solutions such as Arbitrum, Optimism, and Starkware have shined over the past year. These three L2s alone now hold more than $5 billion in TVL, a number that is likely to rise. The imminent launch of L2 tokens makes this space particularly worth watching.
Cross-chain bridges
The multi-chain era is coming, and cross-chain bridges and interoperability will be two of the most critical components in a multi-chain Web3 world. No one wants the process of moving funds across chains to be cumbersome—focusing on user experience and seamless integration will be key differentiators.
Storage
Decentralized data storage has yet to see an optimistic narrative among the general public. Projects in this space have been innovating for over five years, and large companies leveraging distributed storage providers will become the catalyst needed. In the future, cloud storage will be a $150 billion market.
DAOs and social tokens
DAOs will purchase and control real-world assets and protocol governance, demonstrating the power of decentralized communities. Social tokens not necessarily used for fund management will also emerge.
GameFi
Some major game studios will adopt digital assets and integrate them into high-revenue games. Beyond value speculation, this sector is most likely to push digital assets into the mainstream.
Derivatives
dYdX, GMX_IO, DDX_Official, Opyn, and Dopex_io are all builders in the decentralized derivatives market. This is a space we must keep a close eye on.
Lending
Collateralized lending will enable DeFi to penetrate the broader lending industry. Mortgages, forex margin, insurance, and credit cards are just a few examples. Developments here will bring the greatest advancements to decentralized finance.
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