Crypto Market in 2021: Consensus Expansion, Crypto Out of the Circle
The encryption market in 2021 is a prosperous scene. The social consensus on blockchain technology continues to expand, encryption technology has begun to go out of the circle, and people begin to believe that the future development of the Internet will be inseparable from encryption technology. In the industry, the prices of Bitcoin, Ethereum and other cryptocurrencies have all risen sharply. Bitcoin rose from $29,327 at the beginning of the year to nearly $50,000, and Ethereum even more than tripled.
More and more institutions are starting to provide research and services for cryptocurrencies:
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#a16z
#Digital Currency Group
#Pantera Capital
#Coinbase Venture
Under the advocacy of opinion leaders, a group of Meme coins rose astonishingly. Dogecoin once rose by more than 11,000% during the year.
At the same time, NFT, Defi, and GameFi have become popular words and appear on the keyword list in the technology field.
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The influence of the concept of Metaverse going out of the circle on the Internet
The emergence of concepts related to encryption technology such as Metaverse and Web3 has shown people the irreplaceable position of encryption technology in the future development of the Internet.
Metaverse builds an imaginative and beautiful landscape for the future Internet: users can change countless identities in virtual scenes and experience experiences that cannot be enjoyed in reality.
Capital has also sensed the opportunity. Internet giants represented by Facebook have deployed the universe one after another. After all, where the user's attention is, the money is there.
And Web3 seems to be more grounded. Although its concept is also inconclusive, its technical characteristics make it more clear than the Metaverse: it is the utopia of Internet idealism, and the current web2 is reconstructed with encryption technology, so that users can Fully autonomous control of their identity and data will eventually overturn the monopoly of technology giants such as Google, Amazon, and Facebook on the Internet.
The popularity of Web3 in the technology field has also attracted a lot of criticism. Musk made sharp comments on Web3 on Twitter this year: "I'm not saying that Web3 is real, it's just that it now looks more like a market buzzword than reality.", "Has anyone seen Web3? I can not find."
But those who follow the encryption market know that Web3 applications have already begun to emerge in large numbers. Although no one knows what kind of changes Web3 will eventually bring, many people believe that a new era of the Internet has begun to come, referring to the huge changes brought about by Web2.
Looking back at 2021, we can find that the encryption market this year has been very different from the past:
People's consensus on encryption technology has begun to go out of the circle
Meme Brings Followers of Opinion Leaders to Crypto Market
NFT brings trends and art lovers
GameFi brings in general gamers
Metaverse and the concept of Web3 have brought a group of builders in the traditional Internet field
But compared to the metaverse floating in the sky, we should pay more attention to the application scenarios and practical value that Web3 has brought.
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Looking to 2022: Web3 Drives Encryption Market Growth Brings New Internet Paradigm
We believe that the concept of Web3 is more suitable as an indicator to measure the development of the encryption industry.
On the one hand, compared with the metaverse, the concept of Web3 is clearer and more pragmatic (many successful Web3 applications have appeared), and at the same time, it is more closely related to encryption technology, which can include decentralized finance, chain games, The application of many encryption technologies such as NFT and decentralized social networking.
On the other hand, the concept of Web3 took over the metaverse heat at the end of 21 and became the new favorite in the encryption market.
The skyrocketing rise of the Web3 concept currency led by ENS has aroused a wave of FOMO sentiment in the encryption market, and has also increased the expectations of ordinary users for the development of Web3.
Some analysts pointed out that the price increase of the Web3 concept token is directly related to the increase in demand at all levels and the expansion of services, and the continued growth of the Web3.0 ecosystem will support the demand for the encryption market in the future.
When people were still fantasizing about the Metaverse, the prototype of Web3 had already appeared.
Web3 refers to the Internet structure built on decentralized technology, which has the characteristics of decentralized structure, anonymity, and data ownership by users.on the Internet architecture
, Projects such as Andrena and Handshake have emerged, allowing users to bypass the previous centralized Internet service providers and provide peer-to-peer broadband services and domain name services.on data storage and distribution
, groups like Ocean Protocol, Streamr, and Numerai are building protocols for open data marketplaces, where anyone can share or monetize their data. And decentralized data storage and web hosting services like Sia and Filecoin are enabling the creation of new decentralized applications.while the application level
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From Web2 to Web3
From Web2 to Web3It is also at this point that
From web2 to web3 is not only an iteration of the Internet, but also a paradigm shift in the way of value creation.
Some applications in Web2 have shown a tendency to return value to users, such as some content creation platforms such as Douyin and Zhihu. They hope to empower individuals, encourage them to create content, create personal IP, and customize push content according to user preferences.But the limitation of Web2 is that there is always an information gap between centralized Internet companies and users.
In Web3, due to the token economy protected by encryption technology, all these are possible. The following are some cases.
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Project casesTake Gitcoin as an example
Gitcoin
. Gitcoin is a decentralized network of developers, creators, and protocols that protect the rights of every participant through cryptography.
It allows ordinary people to fund open source projects and obtain project tokens
Allow software developers to find projects that require their skills based on their specialties
Allow projects to quickly obtain financing from platform usersGitcoin has provided tens of millions of dollars in donations to thousands of Web3 projects
, including well-known projects such as Uniswap, have received funding from Gitcoin users during the startup process.
By directly programming the rights and obligations of each participant into the smart contract of the blockchain, Gitcoin allows participants all over the world to directly participate in the first round of financing of the Web3 project, and even join the development team of the project. corresponding returns.
This has stimulated the enthusiasm of countless individuals to participate in the construction of the platform, which is unimaginable in Web2.
ConstitutionDAO, which has exploded this year, has demonstrated the paradigm shift that Web3 will bring.Under the guidance of the same vision, through the confirmation of rights,
Although ConstitutionDAO failed to take the first printed version of the U.S. Constitution in the end, it showed the world the prospects that Web3 can bring: everyone’s contribution can be recorded openly and transparently through non-tamperable on-chain contracts After that, people can quickly establish a relationship of trust, and work together to complete some consensus-based things.
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The future of Web3: GameFi traffic brings Web3 to break the circle
The current problems encountered in the development of Web3:
The main problem facing Web3 at present is the small user base, which is limited to users in the encryption market.
Opponents of Web3 often say that Web2 has established a complete user economy. Compared with current Web2 applications, Web3 developers cannot achieve user identification and on-chain communication, which means that developers do not know who their users are. , there is no way to communicate directly with them.
More importantly, the application of Web3 is limited to users with encrypted addresses. This makes Web3 doomed not to have a large-scale Internet economy.But in fact, Web3 is solving these problems,
The most critical of which is the new Web3 track represented by GameFi, which is building a bridge for ordinary people to enter Web3 and building a Web3 user economy.
01. Problems of user identification and communication on the chain
In Web2, developers build user profiles by understanding user identity information, and grow by sending respective notifications to users and providing corresponding services. Therefore, services such as user data tracking, data reselling, and advertisement matching are very popular in the Web2 ecosystem. .And in Web3,There have also been attempts to provide targeted services through more precise user identification
. For example, Maple and Violet try to solve the compliance problem of encrypted identities, and match the encrypted identities on the chain with the real identities off the chain through KYC and other means.Galaxy and ARCx are building an identity system on the chain
, construct identity cards with different characteristics for anonymous identities through the activity information on the user chain.At the same time, there is also a way for Web3 applications to start building on-chain communication
, EPNS (Ethereum Push Notification Service) is building a service that can push information based on user online behavior, which is regarded as the prototype of the advertising business in the Web3 era. Companies such as CyberConnect are trying to build a centralized social graph infrastructure, and users can socialize anonymously in the world on the chain.
02. And more importantly - the issue of user growth
In Web2, user growth has a complete set of logic and methodology, and new customers can be continuously attracted through various fission activities. People who are not optimistic about Web3 believe that Web3 cannot achieve fission and accumulation of users. After all, it is only a matter in the encryption field, and it cannot break away from the encryption world and enter reality.But actually,。
The popularity of the GameFi market this year has made many people realize that games will become an important channel for Web3 to truly enter reality
Blockchain games have the following advantages in guiding users into Web3.According to the report, the current output value of the game industry has exceeded 300 billion US dollars, surpassing the sum of the film and music industries. In reality, a large number of players have regarded games as part of their lives. Compared with ordinary games, the assets in GameFi can be completely owned by players and converted into real income. Just imagine, ordinary games have attracted countless players willing to invest in them, so if there is a game that allows players to fully control their own data assets, and even make a living from it, how many possibilities will it bring?
Secondly,Secondly,GameFi lowers the knowledge and technical barriers for ordinary people to enter the Web3 and encryption market
. It is difficult for ordinary people to be interested in learning the operation of traditional Dapps in Web3. Many terms in the encryption market, such as farming, LP, APY, collateralization, liquidation price, have blocked the entry of many ordinary users. And GameFi allows players to enter Web3 just for the fun of playing games., can guide and educate ordinary players to go deep into Web3. The form of GameFi games enables it to accommodate a variety of applications including NFT, Defi, and DAO. At present, the use of NFT as game characters in GameFi has become the norm. Many chain game unions have begun to organize players in the form of DAO. Projects such as Defi Kingdom that present the concept of Defi in the form of gamification have also achieved success. Through such GameFi, ordinary players continue to understand the technical characteristics of Web3 in the exploration of the game, and chain games are acting as a guide for Web3.
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The Future of Web3
And more importantly, GameFi's gameplay is still evolving. In the previous article, we mentioned that the more important thing about chain games is the attribute of "chain", and the focus is on establishing a highly sticky player relationship.
In the future, the GameFi game mechanism can not only be integrated into NFT and Defi, which have already formed encrypted applications, but also players can play games in smart contracts and compete for computing power. Every innovation in this is to guide a deeper understanding and understanding Web3.In fact, if we think about it from another angle,The core element in Web3 and encryption market - token economy
, itself is like an incentive mechanism in the game, GameFi is more like bringing Web3 back to its essence.
And the decentralized network allows every Dapp to directly face all encrypted users. Every encrypted user is not only a user of Dapp, but also a builder of Web3 ecology.
Looking to the future,Looking to the future,, through the decentralized network, players can continuously screen out more matching communities in the game, build a network of trust relationships, and share the benefits brought about by the growth of Web3 value.
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LAPLAP: The Awakening of Web3 Players Brings New Opportunities
Web3 player
GameFi guides players to continuously enter Web3, and the decentralized world of Web3 will definitely make players realize that they are no longer labeled users who can only passively accept products in Web2, but Web3 digital asset investors who have the right to choose. This is We believe there will be a "Web3 Player Awakening".
This trend is manifested in the development of GameFi. We believe that more and more game guilds will organize players in the DAO mode, giving players greater management rights, allowing them to choose excellent games by themselves, and carry out in-game asset management. Coordination and cooperation, including using subDAO assets to purchase assets, NFT leasing, etc.
Gamefi project industry chain
On the other hand, players will also hope to deeply participate in the entire industry chain of excellent GameFi projects from development to release to upgrade and iteration. After all, in Web3, each project token holder enjoys With the benefit of the project, it should also have the right to speak in the development of the project.And in this process,How to maximize the interaction between players and encourage players to gain greater benefits through cooperation
, is a problem that is still being explored in the industry.Although the current guild operation mode of in-game asset lending has been proven to attract ordinary players to enter the chain game, and help players obtain considerable income. But in such a model,
There is only an asset lease relationship between players, and the value brought by deep social relationships has not been discovered.
This is why Laplap integrated SocialFi into the GameFi community concept.SocialFi is a new way to monetize social interactions
, allowing users to obtain tokens by establishing connections, conducting social activities, and cooperating to achieve goals.
In Laplap, in addition to the traditional Play2Earn, users can also participate in the game promotion process on the platform and get rewards according to their promotion contributions in different games.In addition to the role of the player, we hope to lead users to participate in more critical links such as game release, game mechanism design, and game iteration.
Really let players have a say in the GameFi industry.
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