Author: Alex Svanevik
Translation: Felix, LianGuaiNews
On October 6th, Alex Svanevik, the CEO of Nansen, a cryptocurrency analytics company, shared his views on the future of crypto on the social media platform X. Svanevik emphasized six narratives that he believes will play a key role in shaping the next cycle of the crypto industry.
Alex Svanevik has over ten years of experience in the data, analytics, and crypto industries. He has been the CEO of Nansen, a Singapore-based company, since October 2019. Prior to joining Nansen, Svanevik was the founder and data scientist of D5 (The Data Science DAO), a decentralized organization aimed at accelerating data science initiatives. Alex Svanevik has also served as the Chief Data Scientist of CoinFi and has been a board member of Wallet Connect since February 2022. His extensive experience gives him significant influence in the crypto and data science fields.
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Integration of Traditional Finance and Cryptocurrency
Svanevik pointed out that traditional fintech platforms are increasingly incorporating cryptocurrencies into their systems. For example, LianGuaiLianGuail has launched its own stablecoin, and the UK digital bank Revolut has introduced staking services for cryptocurrencies like ETH, ADA, and DOT. In addition, emerging crypto startups (such as BasedApp) have already achieved user experiences similar to traditional fintech products. Svanevik predicts that in the long run, crypto technology will become the underlying infrastructure for fintech services.
Related reading: Web3 Payments Research Report: How Giants are Reshaping the Crypto Market?
Disruption of Gambling by DeFi
According to Svanevik, the timing is ripe for DeFi to disrupt the gambling industry. Platforms have the potential to generate potential income from capital gains rather than earning spreads from bets. Svanevik also emphasized that Layer2 solutions and account abstractions contribute to improving the user experience of using applications, using platforms like LooksRare’s Yolo, Rollbit, and PoolTogether as examples.
Related reading: Insights from the Gambling Industry: From GGR to NGR, the Attraction Rules of Crypto Games?
RWA and Stablecoins
Svanevik discussed the growing importance of Real World Assets (RWA), particularly Treasury bills, in the crypto ecosystem. He believes that tokenized government bonds could have a significant impact on the supply of stablecoins. Companies such as Superstate, Mountain Protocol, and OpenEden are expected to emerge in 2024. Svanevik also speculates that stablecoin providers like Circle and Tether may enter this space.
Related reading: Why have government bonds become the only landing point for mid-term RWA?
Web3 Games
Web3 games are another area that Svanevik is optimistic about. He mentioned that several games have been in development for over two years and are expected to be released in the next six months. While he expects many games to not succeed, there are some games that may become very popular. Additionally, Svanevik expressed support for projects like SIPHER Odyssey, MixMob, and Axie Infinity.
Related Readings: Dialogue with Former President of Polygon Labs: Games will be the Key Factor to Drive the Mainstream Adoption of Cryptocurrency
SocialFi
When it comes to SocialFi, Svanevik said that data has shown platforms like friend.tech are gaining market attention. He believes that Layer2 solutions and account abstraction will make these platforms more accessible to users. Svanevik expects that SocialFi will go through multiple iterations and forks, but the development cycle will be relatively long.
Related Readings: Why hasn’t Friend Tech gained as much popularity as other SocialFi platforms, and what are the hidden risks?
Physical NFTs are gradually becoming popular
Lastly, Svanevik talked about the potential of physical NFTs. He mentioned that innovators like Luca Netz have paved the way for mainstream adoption, while companies like IYK are helping others experiment in this field.
Related Readings: NFTs quietly integrate into the mainstream: “Fat Penguins” enter Walmart, Microsoft Xbox may integrate crypto wallets
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