Our wishlist for 2024
Our wishlist for 2024
We recently chatted about what we were excited about for 2024, and its insights are worth sharing. The conversation went in several directions.
Matt discussed Web3’s potential to disrupt industries, saying, “Web3 tech is beginning to reach the point where we have the building blocks for many different types of applications. Although many are still only at a proof-of-concept phase, the groundwork has been laid for the inevitable explosion of innovation for consumer and commercial applications.” This mirrors the sentiment in CYBAVO’s article, where Ethereum’s smart contract deployments increased by 300%, indicating a surge in developer activity despite dropping NFT and DeFi trading volumes.
Ian’s comment was that it’s got a lot of potential, but the investment is still small, and very little of it is consumer-held. IndustryWired echoes this potential in blockchain’s role in real estate tokenization, emphasizing fractional ownership and increased liquidity IndustryWired.
Nicolas expressed his excitement about the adoption of SSI protocols like Polygon ID, emphasizing, “It is this portability that is a fundamental characteristic of the Metaverse.” Polygon’s blog post delves into how Polygon ID can enable a self-sovereign identity layer for the web Polygon’s blog post.
Ethan highlighted the potential in “the decentralization of media, data storage, and artificial intelligence.” CoinDesk’s article on decentralized social media corroborates this, spotlighting platforms like Bluesky and Lens that are reshaping the media landscape.
Emma’s view on account abstraction, “I believe that account abstraction and chain abstraction will be big in 2024,” aligns with the advancements in Ethereum’s layer-2 scaling solutions.
Jack’s thoughts on interoperability and multi-chain strategies for enterprise companies are substantiated by the increasing integration of blockchain technologies into mainstream platforms. “ It seems like today, companies are testing the waters with one specific chain. But as crypto and web3 become more mainstream, these companies will want to not only expand their presence to new networks but also will want to utilize different chains for different use cases, and they will need an easy way to do this without creating siloed systems.”
Ian is excited to see web3 get past its moment of self-reflection and start creating innovative products that drive adoption from all kinds of gamers, not just opportunistic Gamefi farmers or blockchain enthusiasts. This year was one of introspection for the Web3 gaming market: the third quarter of 2023 saw $600 million investment in web3 gaming projects, contributing to a year-to-date total of $2.3 billion — only 30% of last year’s. However, over the recent few weeks, there has been a lot of optimism for the next year.
Our chat revealed a rich tapestry of ideas and expectations for Web3 in 2024. From evolving NFT utility to real estate tokenization, decentralized identity, media, and gaming — our diverse interests mirror the multifaceted nature of Web3. As we enter 2024, the excitement is palpable, and we are eager to be part of this transformative journey in the blockchain space.
