Predictions for 2022: What’s in store for the rest of the year? a lot, according to William QuigleyOn Cryptocurrency Fund Manager magneticand . co-founder of tether, Most traded cryptocurrency in the world. And, that. is co-founder of waxA purpose-built blockchain for video game virtual objects.
Here are some of his predictions, including an idea of how long it will take for crypto to recover.
Valuations in many private crypto companies are likely to be exaggerated and have to earn their way into those valuations. Large-scale VC funding also weighs on these companies because that capital must be paid out before any common shareholders can receive proceeds from the sale. Many first-time entrepreneurs do not understand this dynamic.
The two biggest potential setbacks for the crypto industry are stablecoin laws and the classification of cryptos as securities. It will probably be implemented in the US by 2024.
Predictions for 2022: NFT
Despite the slowdown in NFT sales volume, NFTs are still popular and not going away.
Predictions for 2022: The Metaverse
Predictions about the size and future impact of the metaverse have little credibility because the term itself is undefined. There is no standard definition. It has become an amorphous marketing term. If by metaverse people mean a permissionless and open blockchain-based environment, it will not come from established Web2 companies. It will come from new entrants. That means it will take a long time to develop.
The market size of the Metaverse will eventually grow larger, but it will take at least a decade. A huge investment is needed to get there. Also, there won’t be a metaverse, as the name itself should make it clear. There will be thousands of metaverses, most of which will not be interoperable.
creep big tech
Apple and Google are at odds with the fundamentals of the blockchain-based environment. None of them will incorporate the sought-after benefits of the Metaverse blockchain that make the Metaverse concept a desirable option for the current Internet ecosystem.
Predictions for 2022: DeFi
Decentralized finance has performed quite well during the crypto recession. DeFi is merged with centralized blockchain businesses such as Celsius, Luna and BlockFi, which performed poorly when hit by the turmoil in the crypto market.
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