Top Trends in Crypto World in 2021: NFT, DeFi, GameFi and Cross-Chain
In 2020 DeFi has become a popular buzzword among the crypto hip, 2021 proved to be the breakthrough year for “Play-to-Earn” gaming and NFTs.
As 2021 comes to its ending, the right moment has come to look at the hottest trends of the Crypto World with us.
OKC is an EVM full-compatible public chain backed by OKX to land large-scale digital assets and dApps, which are officially fully opened to developers to freely develop contracts on July 28th, 2021. In five months more than 130 projects have launched on OKC network.
Let’s take a look at the red-hot segments of the cryptocurrency sphere!
Top Crypto Trends for 2021: NFTs
NFTs(Non-Fungible Tokens) represent the class of cryptocurrency tokens with unique characteristics verified by blockchain cryptographic power.
As such, the tokens of major blockchains are ‘fungible’: ETH or BTC coins are interchangeable. NFTs work differently: NFTs are permanent, read-only records of ownership of an asset recorded on a blockchain and not mutually interchangeable. These include, but are not limited to gaming, the metaverse, mortgages, art and music. As the segment is on fire, the prices for NFTs are rocketing.
NFTs are the perfect fit for game players because they can not only own assets, but also earn tokens, and trade them in NFT markets.
OKC NFT marketplace: OKEx NFT
Top Crypto Trends for 2021: GameFi
GameFi is a portmanteau of “Game” and “Finance”. It’s are blockchain-based games that incentivize users to join them by financial motivations. ‘Play-to-Earn’ is the second name for this type of protocols.
As such, GameFi protocols give their users the opportunity to earn money through their gaming skills. Unlike traditional online games, the transactions and characters of GameFi protocols are stored on blockchains like OKC, Ethereum, BSC, Tron, Polygon, and so on.
The majority of decentralized gaming protocols are built on the intersection between DeFi and NFT segments.
Games to play: Celestial, IslandSwap, CryptoBlades, BladeWarrior, Samurai, etc.
Top Crypto Trends for 2021: DeFi
DeFi (Decentralized finance) is an emerging financial technology based on secure distributed ledgers similar to those used by cryptocurrencies. The system removes the control banks and institutions have on money, financial products, and financial services.
DeFi should be referred to as a sort of decentralized software applications suitable for basic financial operations: lending/borrowing, stablecoins minting, ‘yield farming’, and so on.
Dapps on OKC: CherrySwap, Jswap, O3 Swap, DODO, SushiSwap, etc.
Top Crypto Trends for 2021: Cross-Chain
In 2021, the market badly needs systems that would allow different blockchains to interact seamlessly.
While typically such problems are addressed with two-way bridges, there is a class of protocols specially designed for cross-network integration. It is key to allow people to move easily from one blockchain to another.
Cross-Chain protocols on OKC: Multichain, Chainge, etc.
DeFi is still where much of the money is, but gaming is catching up. There’s much more opportunity in the gaming space than in DeFi space.
As you know COVID has increased our reliance on digital spaces, meaning our virtual assets and identities will become increasingly valuable to us. The ground is fertile for further development and adoption of Play-to-earn and the metaverse in general, thanks to the rise of NFTs as a way to record digital assets.
Do you think 2022 should be another game-changing year?