Crypto bear market, what should we be concerned about?
Original Title: "What to Watch in Cryptocurrencies in 2022"
Original Source: Mario Gabriele
Original Compilation: Block unicorn
If you only have a few minutes to spare, investors, operators, and founders should learn about the most exciting crypto trends of the year.
Sovereign Data Could Change the Internet. Projects like Ceramic allow users to carry their data over the internet. Two contributors highlight this open-source protocol, describing how it's changing the way we build and interact with on-chain applications.
Music NFT is heading for a breakthrough. This could be the year of the ear, and if 2021 sees a surge in profile picture NFTs, 2022 could boost music NFTs. Musicians, fans, and vertical NFT marketplaces like Catalog can all win big.
DAO can be used to solve difficult problems. DAOs could do more than simply bid on the US Constitution; they could be how the next life-saving drug is developed. VitaDAO, dedicated to studying longevity, may prove to be the harbinger of the budding " DeSci " movement.
The infrastructure phase is accelerating. Existing infrastructure has been struggling to keep up with the increasing adoption of cryptocurrencies. A better track is needed to unlock the next stage of growth. In this regard, Pocket Network may prove indispensable. The multi-chain protocol facilitates decentralized cloud computing around the world.
Wallets go beyond transactions. Existing crypto wallets such as MetaMask have been built to process and track transactions. Increasingly, however, wallets are the place to track digital goods and experiences—becoming an extension of identity, which could benefit newcomers like Genesis.
DeSci Explains: Enabling Decentralization or the Entire Process of Scientific Innovation from Publishing to Funding Both are more open, visible and frictionless.
I believe it was February 2021 when I first heard the word "Solana", Whatever the context might be - a conversation or a skimmed article - I can't quite remember. If I go further, I might learn what Solana is, why it's interesting, and actually, how much a token costs. I might have figured out that it's a new layer 1 protocol for speed at scale, backed by some of the smartest builders and investors, and it's around $6.50.
The next time I hear Solana is at While walking around San Francisco in late May, Acquired's David Rosenthal shared what he learned from it and why it's so compelling. That's enough to pique my interest, but sadly not enough to buy anything. At the time, Solana was trading at about $27.
In August, I published a post about cryptocurrency The trilogy of the exchange FTX. As part of this, I spoke to some of the early adopters of Solana including Sam Bankman-Fried and Kyle Samani, Solana to $33 $.
Two weeks later my friend Packy McCormick posted for his article on the protocol. I finally bought my first Solana token for $70 and made a recurring purchase.
The reason I share this anecdote is not to show that I am an idiot. (Although, in this case, I probably am.) More importantly, it serves to illustrate how many times we can discuss a topic before it actually sticks. Even if it's from someone you admire and respect, it can take a long time to break through the noise.
Today’s article tries to shorten that process for all of us, Instead of waiting for the most exciting crypto projects and trends of the year to happen, I asked some of the most thoughtful people I know to share what they are paying attention to. Additionally, I've asked them to explain what makes them energized about their choices to help us go beyond pure approval.
This is not investment advice though - if you want to prove it The volatility of the industry, you only need to look back at the pullbacks of the past few days - at the end of today's article, I hope you can understand what is worth paying attention to this year.
(Note: Actually, this is not investment advice , some contributors may have invested in the projects they identified; some may not.)
Multicoin Matt Shapiro, Partner at Capital
Using cryptocurrency to incentivize building infrastructure
Cryptocurrency Start touching the real world in interesting ways. The technological underpinnings of cryptocurrencies are advanced enough that entrepreneurs outside of cryptocurrencies with deep domain knowledge and expertise realize it can be leveraged to disrupt existing businesses or revolutionize or break the rules of traditional industries. The best example so far is Helium, which disrupts wireless networks by using cryptoeconomic incentives to facilitate the construction of real-world infrastructure.
The rendering network is another exciting example , representing the fusion of digital rendering and encryption. 3D objects and realistic graphics in film and video are computationally intensive. With the advent of Metaverse, these virtual environments, along with millions of avatars and NFT accessories, need to be created and rendered to populate the digital space. It would take countless hours of dedicated GPU time to make metaverse possible.
Cryptoeconomic incentives are ideal for Attract potential assets to mass-produce through new markets. Render Network does exactly that, and leverages the global potential of GPUs. Additionally, as Ethereum moves to a proof-of-stake consensus mechanism, we expect an entire market of GPUs to be readily available for rendering images and video.
But the market has two roads. Simply organizing the supply side will not work unless there is demand. Render Network is uniquely positioned due to its relationship with Otoy. The company has been at the forefront of rendering software for over a decade. Today, their flagship software solution, Octane Render, is widely regarded as the best-in-class GPU rendering solution. It is used by major film studios including Disney and tens of thousands of digital artists including Beeple. Otoy provides Render Network with an embedded user base of customers currently doing rendering elsewhere, including Amazon and Nvidia.
RNDR is a forgotten coin of 2017 that is going Major update. The token design is being updated to include staking and governance features. The rendering network is being migrated to Solana for speed and execution, and integrated with Metaplex. Other major rendering software solutions, such as Redshift, have joined the rendering network.
For these reasons, Render Network is positioned as the infrastructure connecting web3 and Metaverse core part.
Structured products
With DeFi I have been paying attention to the development of structured products. DeFi yields fell across the board as new capital entered the space to offset demand from borrowers. But new capital inflows have not slowed. They are increasing as traditional asset managers join in, looking to take advantage of inefficiencies and arbitrage opportunities.
With more and more capital searching for income and derivatives agreements Launch, structured products are in an interesting position. For example, covered call option strategies are well established in traditional finance, but are often too complex for most retail investors to understand and execute quickly. The programmability of encryption removes this complexity, making it simple (one-click) for long-term holders to generate returns on their assets by writing covered call options.
This part of the market is growing rapidly and has gained impressive Impressive appeal. This includes structured product protocols such as Ribbon and StakeDAO on Ethereum, and Katana and Exotic on Solana. Demand for these products also benefits underlying options protocols such as Opyn and Hegic on Ethereum, and Zeta and PsyOptions on Solana. It’s still early days, but this is one area of DeFi to watch.
Variant co-founder Li Jin
DAO's Universal Base Capital
Crypto will be a test bed for ambitious economic and social experiments that can create A Fairer Internet.
In recent decades, incomes in most developed countries have fallen Equality is increasing. The concept of Universal Basic Capital (UBC), or Universal Basic Wealth, addresses structural inequality by giving people ownership of value-added assets. Examples include Alaska's Social Wealth Fund, which pays dividends from the state's oil revenues, and Singapore's Central Provident Fund. UBC has advantages over simply redistributing income: basic capital can serve as a safety net, increase bargaining power, empower the ability to take entrepreneurial risk and focus on long-term goals, and ease financial anxiety.
Economists, executives and political leaders While debating how to implement UBC on a larger scale, DAOs are ready to experiment here. According to DeepDAO statistics, as of December 2021, total assets under management (AUM) of DAO treasury bonds listed on the platform totaled $16 billion, up from $400 million in January. A portion of these treasury funds could be earmarked for the DAO's membership base and invested over time to earn yield. Members can then use these accounts for retirement, education, healthcare or start-up capital. Responses here include samples of DAOs attempting to create a form of basic income or basic capital, including Worldcoin, $UBI, Impact Market, as well as smaller experiments such as FWB's artist-in-residence grants or SuperHi's creative basic income.
Cryptocurrency gives us the tools to build a new economy and society Toolset. With that comes the opportunity to ask how we want these economies to work and what kind of society we can create. I'm excited to see DAOs considering token design and financial strategy not just from a short-term user acquisition or engagement perspective, but as the foundation of a new, fairer world.
Aaron Wright, co-founder of Tribute Labs and LAO
Great mix
In 2021, we see the emergence of web3 thanks to three overlapping core trends: DeFi, NFT and Glimmers of social tokens — all stitched together using the cartilage of a DAO.
In 2022 things will start to change strangeness. These three categories will continue to grow and intermingle. DeFi will enter NFT in terms of lending and staking. NFTs will flirt with the mechanics of DeFi. NFT will be bent into membership cards and social communities, with social tokens as the incentive mechanism within the community.
DAO and DAO Network will continue to thrive , supporting artists, creators and novel financial products. They will enable a growing set of open source tools, IP sets, and a growing number of public products. Tools (especially DAO tools, bridges, zk-tech, messaging, privacy, and storage) will improve and start to mature, unlocking more and more ways for people to cooperate in emerging multiplayer game modes.
Millions if not more more) will join cryptocurrencies through NFTs, opening up new categories of collectors. NFT will no longer be limited to PFPs, game items, virtual worlds, and digital art. They will start cannibalizing other forms of media (with no apparent headwinds), such as fashion and music.
Who knows what will happen to the price but if the web3 ecosystem Capable of attracting more capital, the wealth it generates will increasingly be used to solve harder problems, such as decentralized science and climate change.
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Ceramic
Data is everything. It's a valuable asset in its own right, as evidenced by the rise of companies like Facebook and Google. Both companies have become some of the most profitable businesses in the world thanks to the data they harvest from billions of users.
A macro shift in data ownership and value capture is underway. Web3 brings what I call the "deplatforming of data" -- that is, the decoupling of the application layer and the data layer. These parts are usually fused under the ownership of a single entity. The de-platforming of data will enable user-controlled data storage: a paradigm shift for users and developers.
No one is better than Ceramic for this thorough change. Ceramic, an open-source protocol for decentralized applications, is building the data rails of web3. For developers, it enables them to build applications without the long-needed underlying trusted centralized database server. Ceramic breaks down data silos for end users and lets them transfer data across platforms. By doing so, it puts control of the data in the hands of the user.
Ceramic is rapidly gaining adoption and noteworthy projects have been established on top of the agreement. With an incredible team and a huge problem space blank canvas, Ceramic is one to watch in 2022.
Multi-chain and 2.0
The multi-chain narrative has changed significantly in the last year. Ethereum Virtual Machine (EVM) compatibility and high transaction costs on the Ethereum mainnet make altchains attractive to applications and users. However, most of the activity I've seen has been copy-pasted - forks and imitations of successful Ethereum projects with aggressive liquidity incentives.
In the long run, successful competitor chains will attract new types of applications that The prices of the programs are all beyond Ethereum, and take advantage of the unique architectural advantages of different chains. We’re starting to see examples of games and NFT marketplaces developed locally outside of the Ethereum mainnet, but the space is just getting started.
DeFi Token Economics Revival
Protocol-owned liquidity, vote locks, bonds, curve wars — the DeFi ecosystem has seen rapid innovation in economic design around governance tokens. Best practice sets for these protocols are rapidly evolving. Thanks to these more favorable designs and incentives, new protocols can quickly gain market share. Early DeFi projects are reevaluating and restructuring their core economics in light of recent innovations. Communities are being disrupted and realigned. Over the next year, I think we'll see a clear distinction between protocols that can adapt and integrate these new mechanisms, and those that remain stuck in the old ways.
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Wallets as Identity
Wallets in 2022 will not be crypto wallets. They will be native web3 wallets - built for identity, navigation, personalization and media.
All wallets to date have been built and designed around transactions of. Many wallets have been in use for over three years and were created specifically for buying, trading and holding tokens. Since then, the purpose of the wallet has changed as the ecosystem has continued to expand. As we move into web3—a more social, open, and interoperable internet—we see an increased interest in wallets as storage for NFTs (see Rainbow or Coinbase Wallet) and multimedia experiences (see Glass, Sound, and Altered State Machine ) local demand is increasing). In short, wallets are becoming where people want to spend their time. Existing wallets will not (and, frankly, cannot) adapt to this new behavioral preference.
When we consider this ecosystem-wide When looking at how the shift might occur, we can examine the factors driving user adoption of wallets that previously reached mass. As a case study, MetaMask had 545,000 monthly active users (MAU) in July 2020. This metric skyrocketed to over 10 million by August 2021, driven by a surge in interest in the “DeFi Summer” where yield farming acts as consumers. At the time, it was an obvious choice for consumers to use MetaMask to take advantage of DeFi gains, as MetaMask was more accessible (and widely supported) than its competitors.
We can compare this example with today's web3 ecosystem draw similarities. The supply of NFT projects, new yield farming opportunities, and social web3 platforms are all at an all-time high and growing. Traditional wallets consume new demand initially. But as the variety of applications, use cases, and behaviors expands, users (and developers) will demand more integrated wallets that leverage on-chain sources and transfer your digital identity across applications and chains. For these reasons, I'm excited about wallets like Genesis, Bitski, and Sudo.
My brilliant friend and investment partner Jay Drain said it best: “Right now, crypto wallets look Very much like inventories... In the future they will more clearly represent our digital identities by making them composable on the web." I recommend you check out his full work here.
True Ventures investor John O'Connell
Stader Labs< /h4>
One project I am very excited about is Stader Labs. Stader is building the "Amazon of Staking" - allowing users to easily stake their cryptocurrency and earn passive income through a variety of strategies based on user preferences.
Stader launches on Terra, allowing users to automatically combine their LUNA staking rewards for maximum to maximize returns while distributing their assets to a variety of different validators to encourage further decentralization of the entire Terra blockchain. Stader also launched LunaX, a liquid staking derivative of LUNA that allows users to interact with other DeFi applications in the Terra ecosystem.
Today, Stader manages about 6.1 million LUNAs of different strategies (at the time of writing worth about $490 million at the time). In the future, Stader plans to launch similar products on other blockchains, including Solana and Ethereum. They will also introduce advanced strategies to further enhance the usefulness of their platform to their growing community (disclosure: True Ventures is an investor in Stader).
Change state machine
Other One project I'm excited about is Altered State Machine (ASM), which is building a protocol to add enhanced AI capabilities to NFT items. ASM recently abandoned a project called "Brains". NFTs are unique artificial intelligences that can be trained and used in different ways.
For example, ASM launched the Artificial Intelligence Football Association ( AIFA). Holders can use their brains to participate in AIFA's money-making video games with special "All-Star" characters. As brains are used in games like this one, the skills and abilities they develop make them even more useful in the future. Users can also train them passively using ASM's simulation modeling technology.
In the future, Brains will be able to be used in other DeFi, gaming and crypto environments. Holders will even combine Brains to mint NFTs, allowing newcomers to join the ecosystem (disclosure: True Ventures is an investor in ASM).
Andy Weissman, GP of USV (Fund Manager)
Digital fashion
I am very curious to see what will happen in the ever-evolving world of digital fashion. Digital identities clearly matter – 4.5 billion social media consumers already use digital identities and personas. As Dani Loftus, founder of digital studio Draup, writes:
The personas that form the basis of your identity are not curated from your physical life, but created entirely digitally, giving you opportunities for self-expression.
What new forms of self-expression will emerge? What new tools and platforms will be invented for emerging designers? What new ways to wear, share, sell, distribute? What happens when you mix these concepts with the core principles of web3 - composability, transferability?
I'm looking at some names: Dani Loftus, UNXD, DressX , The Fabricant, Artisans, Charli Cohen, RED DAO, and XXXXTH (note: some of these greats are my friends!).
Jackson Dahl, Paradigm's Entrepreneur-in-Residence
The Rise of Pseudonym
I'm glad that more people are exploring and building pseudonymity tools, especially in the context of web3. While the internet has been dominated by real-name identities for the past decade, I believe we are entering a new phase during which pseudonyms will become common, if not dominant, in many media. It's worth noting that while there are privacy and security reasons for pseudonyms (which are discussed extensively by Balaji Srinivasan), there are other significant implications, including social dynamics, expression of identity, culture, celebrity, etc. Perhaps most importantly, pseudonyms allow identities to become contextual rather than fixed. In this respect, unlike anonymity, pseudonymity is a scope and a wide design space.
In the last year, anonymous influencers in gaming and crypto have seen some Increase, from well-known creators (Dream, Corpse Husband, CodeMiko) to more niche but highly engaged thought leaders with NFT-based identities (Gmoney, Punk 6529, 4156). There are also examples in art and fashion. We'll see more people join this cadre; people will use multiple identities, just as some identities will be made up of multiple people. We've seen massive pseudonymization on platforms like Reddit, Discord, Tumblr, and even parts of Twitter and Instagram.
This trend has no clear connection to web3. But NFT identity, on-chain reputation, decentralization, and composability are critical to its development. As we spend more and more of our lives in digital spaces, I hope that flexible identities will be as important a factor in shaping the desired future as digital currencies and property rights.
1confirmation GP, Richard Chen
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Vertical NFT market
OpenSea is the biggest winner in our portfolio. While it will continue to be a generational company and the dominant NFT secondary market, I believe specific verticals will carve out niches with better UI/UX, search, and discovery. SuperRare is a successful example of high-end 1/1 crypto art, but there will be others in categories like photography (Sloika), metaverse (Metahood), and music (Catalog).
I'm going to put a lot of emphasis on music NFTs, surprisingly Well, music NFTs haven't exploded yet, unlike other categories like art, collectibles, and games, but I think collectors' tastes are changing rapidly. Leading music NFT marketplace Catalog had a breakout month in October, with volume charts reminiscent of what I saw in SuperRare in early 2020 before the crypto art explosion. For music, it's a question of when not if.
The Birth of a New "City"
In 2022, we will rediscover the relationship between our identities, contributions and relationships on the Internet relation. The most interesting assets are those that create an environment that strengthens our understanding of our new self.
There has been a psychological undercurrent at this point for some time Converge on. Both web2 and web3 startups are riding the wave from different directions and with different vehicles. Both argue that the democratizing power of tools enables mass consumers to participate in an economy once controlled by a few institutions or companies.
Reality becomes more diverse and transcendent. It's just that the "everyone is an investor" argument has spawned two startups that bet heavily; Danglun and Syndicate are two manifestations of the same belief. For some newcomers, identity as an "investor" must be achieved through "contribution"—whether it's rising through the ranks of a mirror writing competition and becoming a thought leader, or discovering a tactical niche for intellectual compounding. Those who invest together come together to discuss more investments, cultivate fertile land, and engage in new social interactions around shared ownership of assets.
The "software is eating the world" argument is still in web2 Performed on a medium scale. For most web2 companies, a cohesive, smooth, and delightful user experience abstracts the legal plumbing and regulatory alignment done by SLAs, laborious digitization of data, and harmonization of standards. For web3 companies, these institutions are being created as entirely new entities and rapidly gaining legitimacy. The former will fight for consumer attention, while the latter will fight to build the guardrails of legitimacy and invite a whole new working class to help them get there.
The most exciting trend in 2022 is to witness How this story of many cities unfolded - giving birth to a new class of workers, citizens, leaders and infrastructure. – Find Tina here
Cooper Turley, full-time DAO
Music NFT
Range from Daniel Allan and Haleek Maul Wait for independent artists to Nas and 3LAU. Artists are fully tagging audio files, giving fans a way to collect their favorite songs or recordings. Here are some of the market leaders:
Directory. As the premier 1/1 music NFT marketplace, Catalog is the first major platform to tokenize audio files by building on Zora. It features a variety of established artists, up-and-coming acts and Genesis records. Catalog has sold more than $2 million in recordings to date and has become a cornerstone of the music NFT movement.
Sound. Throwing a listening party has never been more satisfying. Sound lets musicians share new music by releasing a set of numbered NFTs, enabling listeners to support their favorite artists. Early versions are considered more valuable than later versions, incentivizing discovery. So far, Sound has held 29 consecutive audition sessions that were full of seats, all of which ended within the first minute of going online. Sound is one to keep an eye on as the secondary market continues to develop.
Royal. Earlier this week, Royal launched its first product, enabling fans to collect NFTs by directly claiming royalties. By enabling credit card transactions, Royal appears to have attracted many non-crypto natives — 40% of participants joined the decline using this method. For those new to web3, Royal offers a promising solution.
In addition to music NFTs, the field includes a growing number of labels, agencies, and collectives coming together to collect music. Whether you're a fan, degen, or artist, there's something for everyone.
DAO Ecology< p>
Hanel Baveja, USV investor
Reimagining the structures that make drug development obscure and dislocated today may require a completely orthogonal, non-obvious perspective: DeSci.
DeSci enables decentralization or scientific innovation from publication to funding The entire process is more open, visible and frictionless. It broadens the idea of how to be a new scientific IP stakeholder, and aggregates resources — human and capital — in new ways through DAOs and other web3 structures to bring more new IP to the world. Perhaps DeSci's most radical vision is to empower new and larger groups of stakeholders—patients, researchers, and enthusiasts—with positive market effects, resulting in cheaper, better products for all.
There are already several interesting projects in DeSci, including Molecule , VitaDAO and other details. I have more questions than answers about this emerging category, which makes me even more excited about what's to come.
Alexis Ohanian, founder of 776
Bored Apes Yacht Club
As an early ape holder I am biased and I have converted a lot of people from my old co-founder Garry to me Own wife (I bought her as a gift), but I think we'll get more from BAYC in 2022. This resets our expectations of what NFTs x Culture can do.
Maria Shen, Electric Capital Partner
DAO as a new subreddit
The Internet removes geographical boundaries and allows communities Form around any interest, no matter how niche. Crypto (encryption) unlocks the ability for anyone to create coordinated systems at scale.
DAO utilizes both the Internet and encryption to enable tribes of strangers Ability to use resource pools for common purposes. With DAOs, people can now pool resources together and decide what to do with them through a governance process. The rate at which DAOs are created has grown exponentially — what started as a trickle of one or two new DAOs per day has now turned into a torrent. The largest DAOs control coffers worth billions of dollars, issue grants and employ large teams. In contrast, the smallest DAO can be a group of friends pooling their resources to purchase NFTs.
DAO provides jobs, donates to charities, funds initiatives, Contribute to political campaigns and throw great parties. In the future, we may have as many DAOs as subreddits - in addition to forums, these organizations will be able to direct resources toward ideals they care about.
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Ceramic
If you were an academic in the years before the printing press, chances are you were a Voyager - neither reading nor lecturing most of the time, but traveling between libraries to study and copy books. You moved, but the books didn't. Of course, the printing press changed all that: now books could be moved, so you didn't have to, and centuries of revolution followed. But for all the advances in technology, in today's internet, we're mostly preprinters. We cannot transfer the people we follow, the types of media we like, the reputations and audiences we build — our data — as a platform. Like academics, we spend our time moving between platforms; media on those platforms doesn't.
What would happen if our data were transferable? We should see at least four major social consequences:
1. People can track The impact of sharing, using and monetizing creative work across the furthest reaches of the internet.
2. People will share more data with the platform to improve performance and recommendations because It improves their experience across the web.
3. People will be incentivized to contribute to public datasets that Better analytics and social graphs are produced on which the platform can innovate. AI can use this information to automate many of our everyday online tasks.
4. Platforms will race to allow users to move their data and audiences from one place to another to another location.
In other words, data portability represents A huge social shift that shifts power from platforms to users. Or rather, data portability shifts power from platforms to protocols, as users can only manage and transfer their data on common tracks that standardize, validate, and stream such data. Platforms must be built on common data rails to leverage each other's content and audiences. Still, as users move their tokens, NFTs, content, followers, and reputation from one to the other, as Joel Monegro suggested a few years ago, they also lose the moat. At the same time, the moats of data protocols are getting thicker in terms of getting users to port data in the first place.
This behavior is Ceramic in the development data flow area Realized by blockchain, we own our own data. This means we can monetize our data, set up automatic commissions when anyone uses it, and earn rewards from competing to win our platform. For that matter, we can also track and demonstrate the impact of creative work: imagine writing a song and not only getting paid when others play it at events to make money, but also allowing others to recreate it without permission. Remix, the revenue streams back to you while collecting data on its usage, which you can use to find career opportunities while connecting with others with similar tastes. In web3, our ability to manage data will allow us to manage our entire lives online. NFTs are just the front end of how we are viewed as data in the metaverse.
If the 2010s were Distributed Ledger Technology (DLT) If the decade of sovereign finance was enabled, the 2020s will be the decade of sovereign data of all types. We can go back to our ancient scholars, wandering between libraries in a vain pursuit of sharing and translating each other's texts so that the libraries might eventually resemble each other. In the less poetic web3 data stack, Arweave is like a library, hosting books, and protocols like The Graph and Kyve are like librarians helping to index and query the books we need.
But Ceramic is unique not only because it provides the platform Universal Rail, but also because it allowed us to write books in libraries in the first place. Providing tools to own and manage our data gives us the incentive to collect and create new types of data that may even exceed our imagination. That's huge potential. Not only can we own our data online as individuals, but we can reap the rewards of sharing it, collectivizing it, and reorganizing it in new public social structures that we have not yet fully conceived.
Chase Chapman, co-founder of Decentology
Token Weighted Voting
With the DAO becoming one of the de facto structures in web3, with a lot of money and millions of members, the risk of getting things right takes Much higher. All of this makes organizational design failure in a DAO a considerable risk.
Token based governance is a well documented Organizational design fails. Not only can tokens be purchased and used to manipulate votes, but token-based voting systems do not take into account areas of expertise. For example, individuals with marketing expertise should have more power in marketing decisions. This failure leads to a dilution of expert knowledge.
In 2022, I expect to see major experiments in governance, slowly moving from token-based votes shift to other mechanisms for allocating governance power based on merit, background and expertise required for decision-making. As tokens become less important to governance, DAOs will be forced to ask themselves what the intrinsic value of tokens really is, which may be a compelling function to explore new mechanisms that give token value beyond governance powers.
0xStation
If we're playing great online games, the next level of gaming is with " social Points " for " Contribution Points ". I think 0xStation will play a key role in this transition. The project is building the infrastructure to connect talent to the right projects in web3 to help members of the new economy work and play. As these individuals develop and engage, their achievements will be displayed on the blockchain, creating a log of skills and abilities. Over time, I expect on-chain reputation to replace social status on sites like Twitter to better showcase a particular individual's worth and the work they've accomplished, and 0xStation will be a place to watch.
Syndicate
I continue to be bullish on DAOs, it's still early days but it's clear that DAOs will open up new types of organizations that weren't possible before , projects and investments.
A key player in this space is Syndicate. They make creating investment groups very easy. Communities form overnight to invest in NFTs, DeFi projects and even startups. Want to buy 100 crypto squads or run a DeFi investment fund? Interested in angel investing with your friends? Syndicate is probably your best bet.
Setting up a traditional investment fund is expensive and laborious. And it's also legally complicated. Syndicate enables projects, friends, and a trustless community to coordinate funds for investment almost instantly. We'll continue to see new ways of aligning labor and capital in 2022, and I'm excited to see what happens next.
Fiona O' Donnell-McCarthy, Investor, True Ventures
JellyFi
It is my pleasure to introduce two The first project with an incredible female co-founder is JellyFi, which provides an easy source of liquidity for other DeFi projects. They offer undercollateralized loans compared to the typical overcollateralized loans we see in DeFi today.
Their clients are audited institutional borrowers (DAOs, dApps, and DeFi protocols) who use liquidity like a revolving line of credit. This structure allows lenders to earn higher returns than over-collateralized DeFi lending platforms.
This excites me because it provides an easier, more valid credit form. This will become increasingly important as high-potential DeFi projects experience growing pains or need to weather temporary setbacks.
JellyFi was founded by four ConsenSys alumni including Charlotte Eli, who worked on decentralized (Disclosure: True Ventures is an investor in JellyFi).
Dematerialized
While cryptocurrencies are currently dominated by men, many female-led projects are capturing our attention and imagination. Dematerialized, the Net-a-Porter of the Metaverse, is one of them. They curate and launch digital and 'physical' fashion in collaboration with existing fashion brands and web3 artists. I bought my first phygital costume (boots with 3D NFT) from The Dematerialized in 2021. Boots are definitely cooler than me.
Aside from the otherworldly merchandise, there are two key things I like about this project: it Its mission is to tackle waste in the fashion industry by shifting consumption to digital platforms, and its commitment to attracting and guiding new users to cryptocurrencies through a familiar user experience.
DAO focuses on gender diversity
Boys Club focuses on supporting women and non-binary people on their journey from crypto-curiosity to full-on regress Anywhere, they are transitioning from a club to a DAO. I've been impressed by their ability to attract people into the field and encourage senior web2 talent to consider a career in web3, and I highly recommend you join their Discord or follow them on social media (Instagram and TikTok).
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