Three projects worth watching: Fuse / Celestia / Foam
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Three projects worth watching: Fuse / Celestia / Foam
The younger a project is, the lower its market capitalization, and the greater its potential for future growth and development.
Navigating Web3 tides with focused insightsAuthor: Tom Wilson
Translation: TechFlow Intern
It's an undeniable fact that cryptocurrency investors love hunting for new projects. The younger a project is, the lower its market cap tends to be, and thus the greater its potential for growth and expansion. A project with a $20 million market cap has far more room to grow than one valued at $2 billion—simply because a small $20 million project requires significantly less liquidity injection than a $2 billion one. However, investing in smaller projects inevitably comes with substantial drawdown risks.
Firstly, volatility can swing extremely high—but also sharply downward. This makes it a much more speculative and volatile investment. Secondly, over time, the crypto market continues maturing. If we compare the cryptocurrency landscape of 2017 to today’s environment in 2022, the difference is stark. As our understanding deepens, our ability to identify promising small-cap projects improves. We conduct thorough research across numerous low-market-cap projects, selecting only those with real-world utility on both blockchain and practical levels. Meanwhile, tokens lacking utility or long-term potential will gradually be phased out by the market.
In this article, I’ve selected three compelling projects each with market caps under $100 million. In my view, these stand out as some of the most promising crypto projects today—projects likely to play significant roles in the future of Web3, blockchain, and the broader cryptocurrency ecosystem.
I want to emphasize that none of the projects mentioned here have compensated me. This is purely my personal opinion and should not be taken as financial or investment advice.
Fuse Network
The first gem is Fuse Network. I discovered this project several months ago and have grown increasingly interested. I believe it’s currently undervalued, with considerable upside potential and strong long-term prospects.
What is Fuse Network?
Fuse Network is a protocol designed to bridge everyday finance with the blockchain industry. The network aims to reduce barriers for entrepreneurs managing and operating digital businesses, enabling them to easily reach customers. It allows users to build their DApps and decentralized applications directly on the Fuse blockchain, digitizing their financial transaction workflows. Entrepreneurs using Fuse Network gain access to a suite of tools—they can create tokens, ecosystems, communities, and more—all natively on the Fuse blockchain.
Fuse aims to connect everyday payments to blockchain while leveraging DeFi processes. Its ultimate goal is to make cryptocurrencies and DeFi accessible to individuals and businesses outside the current crypto sphere. Currently, this remains complex due to interoperability challenges between blockchains. Fuse Network functions as what we call a sidechain of Ethereum, streamlining transaction processes at the protocol level and enhancing security. As such, many blockchains are now developing payment systems similar to Fuse Network.
So why choose Fuse Network over others?
Because Fuse offers very low gas fees—around $0.01—and easy wallet integration. Being a decentralized system, it supports various exchanges and provides convenient access to DeFi services. Thanks to its user-friendly wallet and network design, Fuse is particularly appealing to non-crypto natives. At around $0.80 per token, Fuse currently holds a market cap of approximately $40 million.
Celestia
The second project is Celestia.
This project is still in its early stages and hasn’t launched its token yet.
What is Celestia?
Celestia is a project that has been in development since 2016, aiming to revolutionize blockchain architecture. If you look closely, every major public blockchain—be it Ethereum, Cardano, Solana, or Avalanche—is responsible for handling all core tasks within the blockchain: block creation, consensus validation, data storage, and smart contract execution.
Imagine if a car manufacturer had to produce everything from scratch—the chassis, engine, body, paint, and design. They’d handle every single component internally. But historically, one of the biggest revolutions in automotive manufacturing came in the 1900s with the assembly line pioneered by companies like Ford, Citroën, and Peugeot. Each station focused on a specific task—one for engines, another for bodies, a separate team for design. Today, all automakers use this modular approach because specialization leads to higher efficiency and expertise.
Could a similar revolution happen in blockchain? If so, I believe Celestia will lead the charge. Celestia proposes making blockchains more modular by separating the "consensus layer" from the "execution layer." The consensus layer ensures transactions are ordered correctly, while the execution layer verifies whether transactions are valid.
Celestia builds a minimalist blockchain that only orders and publishes transactions without executing them. By modularizing blockchain technology, Celestia will provide on-demand consensus layers to any user, allowing anyone to launch their own blockchain without worrying about underlying security infrastructure.
You might ask: What’s the point? Why not just use the Cosmos network?
Because launching your own chain on Cosmos isn’t simple—especially for smaller developers. You must go through a complex and costly process: building a “decentralized, secure system,” finding a reliable validator network composed of skilled participants genuinely interested in your project. Often, developers lack the technical skills, professional networks, budget, or time needed to recruit validators and establish incentive structures to keep them engaged.
Validators don’t participate for free—they expect rewards. So you need to convince them. That means designing a solid token economy, selling tokens, running marketing campaigns, and more. But with Celestia providing the foundational framework, developers can focus solely on their core needs: programming and building their blockchain. This is incredibly powerful—it could democratize blockchain development and spark a new wave of innovation.
Celestia’s CEO is Mustafa Al-Bassam. He founded CHAINSPACE, a cryptography-focused company acquired by Facebook in 2019. He co-authored a paper on fraud proofs and data availability with Ethereum founder Vitalik Buterin. He was also a co-founder of the hacker group LulzSec, which was convicted for cyberattacks against Nintendo, Sony, and the CIA. Other team members are equally impressive—Nick White, co-founder of Harmony, left his position after reading the Celestia whitepaper, convinced that its solution represents the future of blockchain.
Foam
What is Foam?
Foam is an open, Ethereum-based Proof-of-Location protocol. Their mission is to build a world map based on consensus and blockchain—one fully aligned with tomorrow’s internet, known as Web3—where mapping becomes transparent, decentralized, and tamper-proof.
It’s essentially a blockchain-based GPS. You’re familiar with Proof-of-Work and Proof-of-Stake; now we have Proof-of-Location via Foam. Individuals who wish to operate the network can dedicate their computers as GPS beacons and earn Foam tokens in return.
These participants act as validators. While validators typically verify financial transactions, here they validate location data—a form of information exchange. Using an algorithm, the system triangulates signals from multiple beacons to precisely determine the location of a target object. The token currently has a low market cap of $20 million, which makes sense since the map needs to be built before widespread adoption. Once complete, however, Foam tokens will become essential across many applications, as companies and individuals will need to stake Foam to access location services.
Foam’s partnerships are highly influential, including Tendermint—the co-creator of Cosmos SDK—NewLab, a direct competitor to Silicon Valley incubators, and Verizon, which collaborates with Foam to develop decentralized, open-source applications on blockchain. Thus, Foam currently occupies an under-the-radar position, but holds immense potential to become a cornerstone Web3 project in the future internet.
We might wonder: What practical uses does a blockchain-based GPS have? For instance, Boeing recently announced it’s actively exploring blockchain-based GPS databases as backups in case traditional GPS fails during flights. Foam could also enhance e-commerce through package tracking, real-time train positioning, and more. With minimal research, dozens of industrial applications for the Foam network become apparent.
Developers have been working on this since 2018. Building a global mapping system takes time, so this is a project deeply rooted in Web3 development. The team understands they don’t need aggressive marketing—if they deliver a robust, functional product, they’ll solve real problems, and many companies will be eager to adopt and pay for Foam’s services.
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