Nansen CEO: Six key trends shaping the future of crypto

*Author: *Alex Svanevik

Compiled by: Felix, PANews

On October 6, Alex Svanevik, CEO of crypto analytics company Nansen, shared his views on the future of crypto on 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 the data, analytics, and crypto industries. He has been CEO of Singaporean company Nansen since October 2019. Prior to joining Nansen, Svanevik was the founder and data scientist of D5 (The Data Science DAO), a decentralized organization designed to accelerate data science initiatives. Alex Svanevik also served as chief data scientist at CoinFi and has been a member of the Wallet Connect board of directors since February 2022. Rich experience gives Alex Svanevik a considerable say in the field of encryption and data science.

Traditional finance meets cryptocurrency

Svanevik noted that traditional fintech platforms are increasingly incorporating cryptocurrencies into their systems. For example, PayPal has launched its own stable currency; British digital bank Revolut has launched staking services, including ETH, ADA, DOT, etc. Additionally, emerging crypto startups such as BasedApp already resemble traditional fintech products in terms of user experience. Svanevik predicts that in the long term, crypto will become the underlying infrastructure for fintech services.

Gaming is being disrupted by DeFi

According to Svanevik, the gambling and gambling industry is ripe for disruption by DeFi. Instead of earning spreads from bets, the platform has the potential to generate revenue from capital gains. Svanevi also emphasized that Layer 2 solutions and account abstraction help improve the user experience of using the application. And take LooksRare’s Yolo and platforms like Rollbit and PoolTogether as examples.

RWA and Stablecoins

Svanevik discussed the growing importance of RWA, and specifically Treasury bills (T-bills), in the crypto ecosystem. He believes that tokenized treasuries could have a significant impact on the supply of stablecoins. Companies such as Superstate, Mountain Protocol, and OpenEden are expected to emerge in 2024. Svanevik also speculated that stablecoin providers such as Circle and Tether may get involved in this area.

Web3 Games

Web3 games are another area Svanevik is optimistic about. He mentioned that several games have been in development for more than two years and are expected to be released in the next six months. While he doesn't expect many games to be successful, a few could be extremely popular. In addition, Svanevik expressed support for projects such as SIPHER Odyssey, MixMob and Axie Infinity.

SocialFi

Speaking of SocialFi, Svanevik said data already shows that platforms like friend.tech are gaining market attention. He believes Layer 2 solutions and account abstraction will make these platforms more accessible to users. Svanevik expects SocialFi to go through multiple iterations and forks, but the development cycle will be relatively long.

Physical NFT is gradually becoming more popular

Svanevik concluded by talking 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 space.