As we approach the end of a troubled 2022, experts have increased their share of which cryptocurrencies will gain attention in 2023. Today, together with you, we will examine the crypto money technologies that are expected to mark the year 2023.
Steven Goulden, a senior research analyst at cryptocurrency trading company Cumberland, drew attention to 4 issues that will make the market stand out in 2023, despite 2022 full of bankruptcies and price crashes.
Will NFTs Become Popular Again?
In the report titled Review of the Year, published by the Cumberland platform on 24 December, Goulden touched upon important issues. The shared report included important details such as NFTs becoming a method to tokenize a brand’s intellectual property, web3 technology and games becoming more popular, Bitcoin and Ethereum being used as a nation’s asset or widely.
Arguing that NFTs have been largely limited to the art sector until now, the analyst believes that NFTs and intellectual property of brands will come together as the next step. Goulden pointed out that many companies are already making significant progress using NFTs to monetize intellectual property and increase customer engagement. Examples of this include Starbucks collaborating with the Polygon network to create NFTs for their customers, and Nike launching Swhoosh, which allows users to design customized sneaker NFTs.
Web3 Comes With Benefits
Goulden also said that it has been extremely difficult to break Web2 monopolies until now, but that the adoption of web3 platforms, which will benefit in the real world, will start to gain momentum in 2023. Among the platforms that the analyst said will be beneficial in the real world, there are platforms such as the Internet of Things protocol Helium, the global mapping project Hivemapper, and the ride-sharing application Teleport. However, the analyst draws attention to the fact that there are three billion players in the world, 200 million of which are serious, and this represents a market of 200-300 billion dollars in total. The analyst added that due to the long time it takes to build a blockbuster game, there won’t be a Web3 game to become a star until 2023 or 2024.
BTC and ETH Could Be a Reserve Asset
According to the latest report, Goulden suggested that close attention should be paid to the potential role of BTC and ETH as a reserve asset, especially for export-focused countries. The analyst said many high-exporting countries may choose to stockpile their reserves with alternative assets such as cryptocurrencies rather than US treasury bills to push their currencies against the US dollar.
Sharks Accumulate ADA
And finally, according to another report, Cardano sharks are steadily accumulating ADA. Sharks have taken bearish purchases to a new level since the FTX crisis in early November, according to data shared by Santiment. Addresses holding between 10,000 and 100,000 ADA have added $83 million worth of coins since Nov.