Three predictions for 2023
This week’s featured collection: LongZai
Some collections show off the potential of NFTs and that is why we were delighted to discover LongZai. What makes their collection different is that it contains NFTs that prove they have completed web3 programing courses. For example, LongZai has a certificate for a course on “Advanced Solidity Syntax.” Very cool and we expect this will be more common in the future. Check it out at lazy.com/longzai
It's been a wild ride for NFT and crypto enthusiasts in 2022. From the continued mainstreaming of NFTs—who could have predicted Trump would launch an NFT collection!?—to the collapse of FTX, it's been a year of innovation and setbacks. As 2022 comes to a close, it's a great time to look ahead to what the future might hold.
Here are three predictions we’re thinking about:
1. “NFTs stand on the cusp of the greatest adoption curve in history.” — RedPhone.eth
The crypto storyteller RedPhone.eth has released their annual “69 Theses” — a fascinating philosophical analysis of where crypto is headed in the year ahead. One of their strong claims is that NFTs are about to see massive adoption by the largest Web2 players. They write:
“Facebook, Instagram and Reddit have entered the chat. Now, NFTs stand on the cusp of the greatest adoption curve in history. All the Web2 participants will likely enter in 2023 (Amazon, Google, Apple, etc.) and NFTs will go parabolic... perhaps not in price but in minting and trading and exposure to new crypto participants.”
Read the full 69 Theses.
2. “For a long time, I have been bullish on blockchain identity but bearish on blockchain identity platforms.” — Vitalik Buterin
Earlier this month, Vitalik Buterin, the founder of Ethereum, released a detailed blog post entitled “What in the Ethereum application ecosystem excites me.” It is well worth reading for an insight into what the ultimate Ethereum insider sees as the most promising directions for crypto in 2023. Most interestingly, although Vitalik never uses the term “NFT,” he does devote significant attention to POAPs, or proof of attendance protocol, a technology that is built using NFTs. He writes:
“For a long time, I have been bullish on blockchain identity but bearish on blockchain identity platforms. […]An Ethereum-based Twitter alternative (eg. Farcaster) could use POAPs and other proofs of on-chain activity to create a "verification" feature that does not require conventional KYC, allowing anons to participate. Such platforms could create rooms that are gated to members of a particular community - or hybrid approaches where only community members can speak but anyone can listen. The equivalent of Twitter polls could be limited to particular communities.Equally importantly, there are much more pedestrian applications that are relevant to simply helping people make a living: verification through attestations can make it easier for people to prove that they are trustworthy to get rent, employment or loans.”
Read Vitalik’s full blog.
3. “There's the signal and the noise. In crypto, 99% of it was noise. But there's real value and signal there. […] Now crypto will get its act together.” — Mark Cuban
One of the most vocal proponents of crypto’s technological potential has been Mark Cuban, the founder of Lazy.com. In a recent interview on Jon Stewart’s podcast, Mark explained that crypto’s future is bright and the collapse of FTX, 3AC and Luna could be the catalyst for crypto to get its act together.
Listen to the full interview on The Problem with Jon Stewart.
What are your predictions for NFTs in 2023? Send us your thoughts and we might feature them in a future newsletter.
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