Research Summary
The report discusses nine major predictions for the 2024 crypto market by venture capital firm a16z. It highlights various projects that align with these trends, including decentralization, user experience (UX) reset, modular tech stack, AI and blockchain integration, play-and-earn gaming, AI game-making, formal verification, NFTs as brand assets, and the mainstreaming of SNARKs.
Key Takeaways
Decentralization and DAOs
- PartyDAO: This project allows users to create on-chain groups on the Ethereum network for crowdfunding, voting, and executing transactions. It operates as a decentralized autonomous organization (DAO) and has facilitated over 10,000 ETH in transaction volume.
- Fingerprints DAO: This platform focuses on digital art and operates as a DAO. Members gain economic exposure to the collection and can participate in governance through proposals and voting.
UX Reset and Modular Tech Stack
- Dynamic Labs: This multi-chain authentication and authorization platform offers features like embedded wallets and Crypto-Native logins. It completed a $13.5 million financing round led by a16z.
- Stackr Labs: This project offers a modular rollup SDK that introduces micro-rollups, allowing the development of various functions in dApps as independent state machines.
AI and Blockchain Integration
- Gensyn: This machine learning computation protocol aims to unite the world’s computing resources into a global supercluster, accessible to anyone at any time.
- Fetch.ai: This project provides infrastructure for building intelligent, funded services. It offers a smart wallet serving as a machine learning platform and an AI agent-based trading tool.
Play-and-Earn Gaming and AI Game-Making
- EthXY: This one-click poker MMORPG game based on Telegram operates on-chain on the Base network, allowing players to earn loot through various incentive structures.
- Pahdo Labs: This game studio is developing the anime-style action role-playing game Halcyon Zero and launching a UGC platform. It allows players to create unique anime-style mods and worlds using generative AI tools.
NFTs as Brand Assets and SNARKs Mainstreaming
- Sound.xyz: This music NFT platform aims to fix the music streaming economy, allowing artists to profit from their music while maintaining full control and retaining 100% of the publishing rights.
- zkSync: This L2 protocol based on the ZK rollup architecture allows validators to package transactions in a single block and submit a cryptographic commitment to a smart contract on the Ethereum mainnet.
Actionable Insights
- Decentralization Opportunities: The rise of DAOs like PartyDAO and Fingerprints DAO indicates a growing trend towards decentralization in the crypto space. Stakeholders should explore the potential of DAOs and their role in facilitating decentralized governance.
- UX Innovation: Projects like Dynamic Labs are reshaping the UX of crypto applications. Developers and businesses should consider how these innovations can enhance user engagement and streamline operations.
- AI and Blockchain Synergy: The integration of AI and blockchain in projects like Gensyn and Fetch.ai presents opportunities for innovation. Stakeholders should explore how these technologies can be leveraged to create novel solutions.
- Gaming and Blockchain: The emergence of play-and-earn games like EthXY and AI game-making platforms like Pahdo Labs highlights the potential of blockchain in the gaming industry. Stakeholders should consider how these trends can be capitalized on to create engaging and profitable gaming experiences.
- NFTs and SNARKs: The growing use of NFTs as brand assets and the mainstreaming of SNARKs, as seen in projects like Sound.xyz and zkSync, suggest new avenues for exploration in the crypto space. Stakeholders should research these trends and their potential impact on the market.
