'It feels like we are in the final convulsions of a nascent ecosystem, expelling bad actors and bad practices in a dramatic but ultimately maturing process,' says AndrewDARMACAP. The future of ethereum and more. For crypto2023 presented by bitstamp
fall below $2,000, which hasn’t happened since before COVID-19. Both of these signals indicate an economy in need of jump-starting, which will convince the Fed to ease off the interest rate hikes. This will engender a risk-on environment, incentivizing capital flows into more innovative industries like crypto. By this time, I also predict sufficient regulatory progress will be made in the crypto industry, meaning that the risk-on environment will be accompanied by clearer policies.
If the U.S. rushes through poorly designed legislation under the guise of consumer protection, we will lose Web3 to the rest of the world – unlike how the U.S. won the Web2 revolution. A regulatory ontology should be defined to help everyone in the space determine whether a specific token should be classified as a commodity, security, or other type of asset.
This rapid evolution in the true utility of NFTs will force the crypto community to look back critically on the projects of 2021 and 2022. If they haven’t failed already, the vast majority of remaining NFT projects that haven’t evolved utility will join the NFT graveyard. What we’ll find remaining will be the blue chip NFTs that have been acknowledged but largely ignored in the last year – the CryptoPunks of the world.
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