Nansen CEO: Six Key Trends Shaping the Future of Crypto
The six major trends include the gradual integration of traditional finance and cryptocurrency, as well as the increasing popularity of physical NFTs.Author: Alex Svanevik
Compiled by: Felix, PANews
On October 6, Alex Svanevik, CEO of crypto analytics firm Nansen, shared his views on the future of crypto on the social media platform X. Svanevik highlighted six narratives that he believes will play a key role in shaping the next cycle of the crypto industry.
Alex Svanevik has over a decade of experience in data, analytics, and the crypto industry. He has been the CEO of Singapore-based Nansen since October 2019. Before 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 also served as the Chief Data Scientist at CoinFi and has been a board member of Wallet Connect since February 2022. His extensive experience gives Alex Svanevik considerable authority in the fields of crypto and data science.
Traditional Finance Meets Cryptocurrency
Svanevik pointed out that traditional fintech platforms are increasingly incorporating cryptocurrencies into their systems. For example, PayPal has launched its own stablecoin; the UK digital bank Revolut has introduced staking services, including ETH, ADA, DOT, and more. Additionally, emerging crypto startups like BasedApp have already developed user experiences similar to traditional fintech products. Svanevik predicts that, in the long run, crypto technology will become the underlying infrastructure for fintech services.
Gambling Disrupted by DeFi
According to Svanevik, the time is ripe for the gambling and betting industry to be disrupted by DeFi. Platforms have the potential to generate revenue from capital gains rather than earning spreads from bets. Svanevik also emphasized that Layer2 solutions and account abstraction help enhance the user experience of applications, citing examples like LooksRare's Yolo and platforms such as Rollbit and PoolTogether.
RWA and Stablecoins
Svanevik discussed RWAs, particularly the growing importance of Treasury bills (T-bills) in the crypto ecosystem. He believes that tokenized government bonds could significantly impact the supply of stablecoins. Companies like Superstate, Mountain Protocol, and OpenEden are expected to emerge in 2024. Svanevik also speculated that stablecoin providers like Circle and Tether may venture into this area.
Web3 Gaming
Web3 gaming is another area that Svanevik is optimistic about. He mentioned that several games have been in development for over two years and are expected to launch in the next six months. While he anticipates that many games will not succeed, some may become very popular. Additionally, Svanevik expressed support for projects like SIPHER Odyssey, MixMob, and Axie Infinity.
SocialFi
When discussing SocialFi, Svanevik noted that data shows 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 SocialFi to undergo multiple iterations and forks, but the development cycle will be relatively long.
Physical NFTs Gaining Traction
Finally, 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.
