The internet has changed our lives and has brought us close together in ways we have never imagined. When the web was created, we didn’t know how big it would get or how big it was.
But we were curious to know how far this whole internet thing can come along. See where the internet thing has come. Today, we cannot think of a life without the internet.
That addictive curiosity is a characteristic that drives us today as well.
We don’t know where the Crypto economy will go or just how vast this economy is. But, this addictive curiosity is what pushes us forward to explore unexplored lands. The Crypto Economy and web3 will just be as revolutionary as the internet was in our generation.
While the Crypto economy has just started, there has been a lot of talk about its future potential. However, despite the presence of strong opinions and different views, one thing is certain – the Crypto economy and web3 will play an influential role in structuring the digital future.
If you are interested to know how the Crypto economy and web3 will evolve, get the latest information about them on Bitiq.
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Popular Prediction For Web3 And Crypto Economy
2021 proved to be a breakout year for Crypto. This was the year when Bitcoin saw almost 70% YoY. The decentralized finance market is hitting $150B, and NFTs are emerging as a new category to invest in.
2021 was the perfect year for the Cryptocurrency market. Experts believe that 2022 will only improve. Here are a few predictions related to the Crypto economy and web3 that you need to know.
1. Ethereum Scalability Will Improve
Ethereum is a big player in the Crypto Economy. It has already started its journey towards Ethereum 2.0. Experts believe that this will continue in 2022 and beyond.
With the increasing number of users on Crypto and web3 platform, it is certain that challenges will increase for the Ethereum network. However, we are optimistic about the scalability and many L2 rollups.
2. DeFi Goes Mainstream
Decentralized finance is one of the results of Blockchain technology. While DeFi was there in the market, its importance was not clear. However, the pandemic has certainly shown the need for DeFi. Seeing how effectively the Crypto Economy performed in the crisis, experts believe that DeFi will go mainstream.
Currently, DeFi is dominated by retail investors because of its risky aspect. However, seeing how institutions take a deep interest in decentralized finance, the industry will get access to much-needed insurance.
3. Institution Will Play A Major Role In Defi Participation
Institutions are increasingly interested in decentralized finance. For instance, institutions are interested in higher than average interest-based returns. Then there is a cost reduction in providing the services.
All in all, DeFi opens up interesting opportunities for institutional investors. The only thing which is stopping them is the legal regulation. If the government can make the regulation fluid, you investors are flocking DeFi.
4. Brands Will Actively Start Participating In Metaverse
Many companies have started realizing that NFTs are a great way to market their brand and establish brand loyalty among the customers. Popular brands like Coca-Cola, Campbell’s, and Charmin already released NFT collectibles in 2021.
NFT has become a digital currency with actual value. Seeing how brands use NFTs, we can say that NFTs and Metaverse will become the new Instagram for brands.
5. Web2 Companies Will Try Shifting To Web3
Web2 companies have understood the importance of decentralized finance and the Crypto economy. This is why they all have started shifting from web2 companies to web3 companies.
For example, Facebook has already transformed itself into a web3 company by completely rebranding itself as Meta. We are likely to see other big names doing the same in 2022.
As you can see, a lot will happen in the coming years. We just can’t wait to see as everything just plays out.
With the pace at which the Crypto Economy is growing, we think it is now time for the technology industry to start strategizing about how they will get involved in This massive economy.
We believe that web3 and the crypto economy hold staggering potential that enables trustless and borderless collaboration.
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