Web3 projects have become very popular. What they raise millions of dollars for in times of crisis, opinion of our Crypto-Upvotes experts
Startups related to metaworlds and WEB3 continue to attract huge funds for their development. What awaits cryptocommunity with arrival of new technologies, and what latest developments of this industry are focused on
Last few weeks bring news about new venture capital funds in cryptocurrency sector. NFT platform Immutable launched a $500 million venture fund, Multicoin Capital is investing $430 million in crypto startups, and Binance has raised more than $500 million to launch its venture fund. While some analysts talk about the onset of crypto winter, WEB3 projects are gaining popularity.
A lot of new projects will use new tokens within their ecosystems. The easiest and most budget-friendly way to provide new tokens with liquidity. This is to create liquidity pools on DeFi platforms paired with existing assets.
This will lead to an increase in DeFi sector funds currently being used in smart contracts on a particular platform or across the market as a whole (total value locked; TVL). The imminent potential increase in TVL due to the arrival of traditional financial products in DeFi has been discussed by many sector analysts in their reviews.
Initial liquidity for new pairs will be provided by funds from developers’ funds. Then, the rest of the users who want the tokens of the new projects will join the liquidity supply. Participation in the new pools will in many cases involve swaps (temporary exchanges) of users’ existing tokens on the platforms in order to obtain tokens of the desired pair. Thus, the emergence of even one new popular pair will inevitably lead to the popularization of other platform pairs as well.
Possible arrival of Killer App
Increased funds for developing new solutions for this sector will lead to an influx of new specialists. Ideas of which may turn out to be breakthrough ones. Despite almost a decade of history. All cryptoprojects have not yet been able to create Killer App, coveted and expected by many. It is an app that would demonstrate the undeniable convenience of new technological solutions for the entire population of world. Which would lead to an acceleration of blockchain expansion.
New venture capitalists rate the emergence of such an app as the most likely to happen in the area of gaming projects. A large number of P2E and x-2-earn developments are among them. X-2-earn involves replacing “X” in a phrase with any other action in order to obtain rewards. For example, such an action can even be useful to the planet collecting and recycling garbage.
Everyone has been waiting for Killer App since BTC appeared in 2014. A combination of many conditions is necessary for the emergence of Killer App. Thus, the number of attempts to develop different apps is important for the sector. To increase probability of combining all conditions to achieve desired effect.
From histories of companies that develop computer games. We know that despite technical similarities of many products. Only a few of these games became really popular. Their success was due to a combination of many factors necessary for popularity as well as good marketing.
New earning opportunities and popularity of WEB3 projects
The attraction of users to new projects will, to some extent, take place through Giveaways and Airdrop. In this way, users will be able to earn a small amount of money without investing their own money.
Tracking promising projects at an early stage. It helps to notice in time a message about token allocation or NFT. You can get a valuable digital asset for the simplest actions. It is using bridge between networks, swapping on DEX or providing liquidity in a new pair.
The increase in the number of projects under development will also affect the labor market. New projects will be in demand from designers, UI and UX specialists. As well as copywriters, SMM-managers, analysts and developers who will be interested in further development in blockchain technology.