5 Sectors To Watch During Crypto Winter (Part 2)
The community is tired of the gloomy market. However, this is also an opportunity for you to discover more about the 5 sectors of the blockchain ecosystem during the crypto winter. For more information about 2 sectors Layer-1 and Layer-2 protocols in the previous section.
Sector 3: Gaming
The gaming sector of the cryptocurrency ecosystem has proven to be one of the more resilient in terms of keeping users engaged during the current crypto winter.
The emergence of play-to-earn games like Axie Infinity (AXS) helped shine a spotlight on the possibilities of blockchain-based gaming during the bull cycle of 2021 and has led to an offshoot of numerous “-to-earn” type protocols such as move-to-earn and learn-to-earn.
Data from DappRadar shows that some of the top games in terms of active users include Alien Worlds, Splinterlands and Farmers World, all of which operate on the WAX network while Axie Infinity is the top game in terms of the value of assets held in its smart contract.
There are also a host of other games that are still in development but nevertheless attracting a lot of attention, including Illuvium and Aavegotchi, as well as tokens that represent gaming ecosystems such as Enjin Coin (ENJ), Gala (GALA) and Ultra (UOS).
Sector 4: Social platforms
One sector of the cryptocurrency landscape that has yet to really get established in a notable way but represents a good opportunity to help increase adoption is social engagement platforms similar to Twitter, Facebook or Reddit.
Previous front runners in the social media landscape include Steem and its community-driven offshoot Hive, but neither protocol has really achieved widespread adoption to date.
While no other protocols currently in operation have managed to crack the code that attracts a lot of users who stay engaged long-term, events in the wider world including the ongoing drama around Elon Musk’s purchase of Twitter show that social media remains in need of an openly accessible community-focused platform.
Sector 5: Metaverse and NFT launchpads
A final sector worth keeping an eye on due to its widespread appeal with mainstream society including efforts that are already underway to integrate it into daily life is the Metaverse.
To help simplify matters, the Metaverse is a virtual reality representation of all the data and interactions that occur on the internet, built on top of blockchain technology.
While the concept of the Metaverse is still in its infancy, it’s a popular topic of conversation around the crypto sphere and is already attracting large investments from some of the most well-known and recognizable brands in the world.
In addition to the Metaverse, platforms that specialize in the creation and launch of nonfungible tokens (NFTs) are also worth paying attention to as the NFT sector has been shown to be popular with the general public.
Some of the most developed and adopted Metaverse and NFT platforms currently in operation include The Sandbox (SAND), which recently partnered with Playboy to launch a MetaMansion social game on the platform, as well as Decentraland (MANA) and ApeCoin (APE).
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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5 Sectors To Watch During Crypto Winter (Part 2)
The community is tired of the gloomy market. However, this is also an opportunity for you to discover more about the 5 sectors of the blockchain ecosystem during the crypto winter. For more information about 2 sectors Layer-1 and Layer-2 protocols in the previous section.
Sector 3: Gaming
The gaming sector of the cryptocurrency ecosystem has proven to be one of the more resilient in terms of keeping users engaged during the current crypto winter.
The emergence of play-to-earn games like Axie Infinity (AXS) helped shine a spotlight on the possibilities of blockchain-based gaming during the bull cycle of 2021 and has led to an offshoot of numerous “-to-earn” type protocols such as move-to-earn and learn-to-earn.
Data from DappRadar shows that some of the top games in terms of active users include Alien Worlds, Splinterlands and Farmers World, all of which operate on the WAX network while Axie Infinity is the top game in terms of the value of assets held in its smart contract.
There are also a host of other games that are still in development but nevertheless attracting a lot of attention, including Illuvium and Aavegotchi, as well as tokens that represent gaming ecosystems such as Enjin Coin (ENJ), Gala (GALA) and Ultra (UOS).
Sector 4: Social platforms
One sector of the cryptocurrency landscape that has yet to really get established in a notable way but represents a good opportunity to help increase adoption is social engagement platforms similar to Twitter, Facebook or Reddit.
Previous front runners in the social media landscape include Steem and its community-driven offshoot Hive, but neither protocol has really achieved widespread adoption to date.
While no other protocols currently in operation have managed to crack the code that attracts a lot of users who stay engaged long-term, events in the wider world including the ongoing drama around Elon Musk’s purchase of Twitter show that social media remains in need of an openly accessible community-focused platform.
Sector 5: Metaverse and NFT launchpads
A final sector worth keeping an eye on due to its widespread appeal with mainstream society including efforts that are already underway to integrate it into daily life is the Metaverse.
To help simplify matters, the Metaverse is a virtual reality representation of all the data and interactions that occur on the internet, built on top of blockchain technology.
While the concept of the Metaverse is still in its infancy, it’s a popular topic of conversation around the crypto sphere and is already attracting large investments from some of the most well-known and recognizable brands in the world.
In addition to the Metaverse, platforms that specialize in the creation and launch of nonfungible tokens (NFTs) are also worth paying attention to as the NFT sector has been shown to be popular with the general public.
Some of the most developed and adopted Metaverse and NFT platforms currently in operation include The Sandbox (SAND), which recently partnered with Playboy to launch a MetaMansion social game on the platform, as well as Decentraland (MANA) and ApeCoin (APE).
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
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