Cryptovo recently hosted a star-studded roundtable with Hans Koning, co-founder of DigiByte, O.J. Jordan, host of Crypto Corner, Sergei Simanovskiy of Citizen Cosmos, Alexandra Demidova, creative director of media at Bit, and Zel Alexandra Demidova, CEO of Zelwyn Ecosystems Nikolai Shkilev, Executive Director of Holochain Mary Camacho, and CBDO Paul Moukhine of BDC Consulting.
The roundtable discussed a variety of blockchain-related technologies, including GameFi, Metaverse, and Web 3.0. The conversation centered around predictions, and while the experts did not always share the same views, there were several insightful points of agreement in their conversations.
Meta-universe: 2022 is just the beginning?
Jordan noted that virtual reality will eventually get the boost it needs to thrive, given the interactive nature of the metaverse combined with blockchain technology.
With this in mind, the market value of the metaverse could rise tenfold from the current $70 billion to $800 billion within two years.
Mary Camacho disagrees, noting that the metaverse still needs time. There are many other technologies in the metaverse besides blockchain. Given these complexities, it would be unwise to assume that the industry will achieve rapid growth.
In 2022, new individuals, institutions and brands will continue to gain value in the industry, but only in a progressive direction.
Hans Koning concluded the metaverse discussion by saying that most people prefer to own virtual assets rather than participate in an active metaverse. For him, projects like OpenSea and Decentry have a lot of potential, in addition to Metabrands.
GameFi: Should we expect players to be decentralized?
The game space is closely connected to the metaverse. According to Alexandra Demidova, there is no clear distinction between the two, although Crypto game projects will increase in 2021.
The market already has some good performers, and realistically, there is no indication that we will see a new game of Axie Infinity-like scale in 2022.
Mary Camacho believes that GameFi’s players will be divided into two distinct groups in the future. One is the gamers, who see their actions as an opportunity to make money. The second is the gamer who has a great performance in the game, but is influenced by the financial aspects of the game.
The evolution of Web 3.0 from edge theory to mainstream technology will pave the way for our large decentralized games and set the stage for the separation of these two groups.
Paul Moukhine joined the discussion on this topic, arguing that large game development studios are failing to see GameFi as a game changer. If you look at the industry from this perspective, you are missing an opportunity, and the studios that enter the field will reap huge benefits.
Music NFT: The Next Big Thing?
As the panel of experts continued to express their views on these issues, Sergei Simanovsky pointed out an unexpected boom in the adoption of blocks: NFT.
It’s not something the experts could have predicted.
Digital artist Beeple has created a historic success in his work. His work as NFT sold for $69 million.
Jordan predicted that the next NFT frontier would be music. The appeal of direct ownership and receiving royalties solves the revenue control problem that artists have been struggling with for decades.
While NFT has had a transformative impact on the adoption of blockchain technology, the consensus among most experts is that based on the historical experience of ICOs in 2017-2018, when the speculative bubble burst, the hype died down and many suffered losses when they sold off.
Web 3.0 and the Revolution
It is widely believed that we will see the disappearance of the centralized Internet as a new, privacy-based, decentralized network takes root sometime soon, and Mary Camacho highlights a key issue: ease of use.
For now, those interested in the decentralized Web, known as “Web 3.0,” are those who know how to take advantage of it and profit from it. Its development will require a user experience that is as seamless and easy to understand as the current centralized Web.
In 2022, the desire to control one’s identity online will be a critical issue. Nevertheless, people’s desire to feel comfortable with the familiar will hinder the transition to Web 3.0.
Experts predict that nothing radical will happen in 2022 in terms of blockchain management. Ambiguity on the blockchain will continue on issues such as the definition of utility passwords.
The U.S. is bound to miss out on opportunities because of the indecision of regulators, Hans Kning said. Countries with secrecy and those that leave the market for self-regulation will overtake the U.S.
The excessive volatility associated with Crypto makes it an enemy of regulators, which could lead to stricter restrictions. more than 80 countries are implementing central bank digital currencies. After the CBDC launch, the next step is a restriction or complete ban on Crypto.
At the end of the roundtable discussion, experts presented their predictions for 2022 BTC.
Jordan expects to peak at $120,000 this year, while Nikolai Shkilev expects to reach $100,000. Hans Koning noted that speculators exist at both ends of the price fluctuation range between $20,000 and $1 million, but where the actual value will be, we don’t know.
Ultimately, as we watch, many interesting trends are evolving that are much more interesting than the price volatility of BTC.