During the last days of the year, many will be writing down their goals and their guesses? One might wonder, is it true? Well, yes, that’s right. In the crypto world, the end of the year means it’s time for next year’s predictions. At Coinbase, Chief Product Officer, Surojit Chatterjee, put down 10 predictions for Web3 and the crypto economy in 2022.
Meanwhile, Arcane Research has also issued its predictions for diverse crypto assets. Now, it’s time to see whether the guesses match up.
Yes, you read that “write”
While Chatterjee was optimistic about Ethereum’s ability to scale, he guessed that rival L1 chains would also see “substantial growth.” He said,
“As more L1 networks gain traction and L2s become bigger, our industry will desperately seek improvements in speed and usability of cross-L1 and L1-L2 bridges. We’re likely to see interesting developments in usability of bridges in the coming year.”
Meanwhile, Arcane Research expressed a similar sentiment, albeit one not so optimistic about Ethereum. It noted that Solana, Avalanche, Terra Luna, Fantom, and Harmony were stealing Ethereum’s thunder. What’s more, the report predicted,
“Adoption of other layer-1s than Ethereum will continue to surge, and they will continue to outperform ETH.”
Arcane Research also declared Binance Coin to be the “winner of 2021,” thanks to its 1344% gain, putting it ahead of even Ethereum and Bitcoin in that aspect.
Will DeFi defy?
Taking a look at DeFi, Chatterjee guessed that the coming year would bring in more mainstream participation. This, in turn, could possibly lead to more KYC requirements and products such as DeFi insurance. Regarding NFTs, the exec predicted that creator tokens, fan tokens, and NFT identities would rise in popularity. He added,
“User created metaverses will be the future of social networks and will start threatening the advertising driven centralized versions of social networks of today.”
Meanwhile, Arcane Research seemed to agree with Chatterjee’s guess that more brands would enter the Metaverse. Thus, predicting,
“Traditional gaming companies will continue to explore ways to implement NFTs to the games.”
Finally, Chatterjee seemed hopeful that Web2 companies would try to take part in the Web3 phenomenon and metaverse – even if they failed to decentralize.
The exec further suggested that DAOs could play a more prominent role in the employment market, and pique the interest of regulators.
Time for pain…or paints?
It’s important to note that possibly millions of users across the crypto sector are waiting for the launch of the CoinbaseNFT marketplace in 2022. Well, how this will change the DeFi landscape is an event that traders and creators are eager to witness.
