Market Analysis

Providing practical experience through the task platform and collaborations with Web3 projects, allowing members to apply and enhance their skills in real-world scenarios.

Industry Landscape: The Web3 domain is withnessing an exhilarating surge, exhibitinga vibrant and promising trajectory. Several pivotal indicators underscore the robust vitality of this burgeoning realm:
1. Sustained Developer Activity Growth: The developer community's engagement with Web3 technologies continues to escalate, as evidenced by the historic highs reached in Ethereum SDK and wallet SDK installations. Notably, Ethereum SDK installations surged by 31% year-over-year, while wallet SDK installations skyrocketed by a staggering 126%. Remarkably, in Q2 2023, the weekly download count for Web3 wallet SDKs reached an astonishing 11 million, nearly tripling the figures from the previous year. This trend reflects the heightened interest and participation of developers in the Web3 space.
2. Exploration and Implementation of Novel Use Cases: Innovative projects have demonstrated the vast real-world application potential of Web3 technologies by pioneering cutting-edge, Web3-driven use cases. Polygon and Base have seamlessly integrated technology and practice by driving novel Web3 applications. The Pudgy Penguins collaboration with retail giant Walmart and zkSync has yielded a fusion of virtual and physical realms through their toy and collectible series. WiPro has deployed a new Polygon PoS-powered supply chain platform incubated by Shell, while Franklin Templeton introduced the first U.S. registered mutual fund to leverage a public blockchain for transaction processing and share ownership recordkeeping.
3. Asset Tokenization and Mainstream Adoption: The tokenization of assets has continued to gain traction in 2023, offering the potential for digital representation and trading of virtually all real-world assets. This trend holds the promise of fundamentally transforming financial markets and numerous traditional industries. Concurrently, as Web3 technologies mature, an increasing number of concrete application cases are emerging, capturing not only the attention of early adopters but also prompting traditional enterprises to integrate Web3 into their business operations, exemplified by Starbucks' introduction of its NFT-based loyalty program, Starbucks Odyssey.
4. Focal Points: Security, Account Abstraction, and ZK-Rollups: In the realm of security, smart contract security remains a paramount concern for developers, given the risks associated with vulnerabilities in the DeFi space. Additionally, account abstraction and ZK-Rollups (a Layer 2 scaling solution) have garnered significant developer interest, as these technologies aim to simplify user experiences and enhance the scalability of the Ethereum network.
5. Web3 Adoption from Web2 Incumbents: Prominent brands have set their sights on leveraging Web3 technologies to create unique user experiences. Nike's launch of the Our Force 1 NFT experience and Google Play's decision to allow developers to integrate blockchain-based experiences, including the use of NFTs and tokenized assets, into their apps and games exemplify successful instances of major brands embracing Web3 technologies.
Growth Prospects: The Web3 realm holds immense potential, brimming with myriad growth opportunities: Decentralized Finance (DeFi) and Blockchain Applications DeFi has catalyzed a paradigm shift from traditional banking, empowering users to manage funds through non-custodial wallets and smart contracts. This model fosters transparency, mitigates credit risk through overcollateralization, and ensures liquidity. Notably, even amidst market volatility, Web3 lending platforms have exhibited remarkable resilience, disbursing over $200 billion in loans with minimal bad debt. Investment Landscape The investment market within Web3 is fiercely competitive, witnessing an influx of capital. The ecosystem's development is fueled by a symbiotic blend of financial motives and value-driven principles, urging founders to prioritize community building and effective communication. While some investors harbor skepticism, Web3's role as the foundational layer of the metaverse underscores its significance and expansive potential. Innovation and Infrastructure Development Web3's architecture encompasses crucial services such as digital asset storage, crypto payment solutions, and wallets. However, areas for enhancement exist, including the development of automated payment systems and solutions for identity transfer and NFT trading between wallets. The forthcoming integration with Central Bank Digital Currencies (CBDCs) will necessitate innovative solutions. The Convergence of Artificial Intelligence and Web3 The fusion of artificial intelligence and Web3 is ushering in a fascinating evolution of the digital landscape, promising a more decentralized, intelligent, and user-empowered internet future. These technologies are shaping multiple domains: In the security realm, AI holds the potential to predict and mitigate fraudulent activities, bolstering the overall security of blockchain networks. Within the DeFi sphere, AI can optimize lending protocols in real-time, enhancing the adaptive intelligence of decentralized applications (dApps). Furthermore, AI is poised to revolutionize dApps by introducing functionalities such as personalized NFTs, amplifying user interaction and engagement within the Web3 space. The Rise of Decentralized Autonomous Organizations (DAOs) Decentralized Autonomous Organizations (DAOs) are emerging as a significant force within the Web3 ecosystem, revolutionizing how communities collaborate and make decisions. They offer a structured, democratic approach to governance across various projects and initiatives. For instance, venture capital firm Bessemer Venture Partners launched a "community-as-a-scout" program and a curated talent collective through its DAO, fostering collaboration, idea exchange, and democratizing access to venture capital, underscoring the growing importance and versatility of DAOs in supporting the Web3 ecosystem. The Impact of Bitcoin Spot ETF Approval The U.S. Securities and Exchange Commission's (SEC) approval of spot Bitcoin ETFs marks a pivotal milestone for the crypto industry and is anticipated to have far-reaching implications for Web3's growth and the broader crypto ecosystem. This approval is expected to bridge traditional finance (TradFi) with the emerging crypto markets, potentially unlocking substantial capital inflows into Bitcoin and, by extension, the wider crypto and Web3 spaces. Analysts and industry insiders predict that the approval could pave the way for increased institutional and retail investment in Bitcoin, driving up its price and potentially leading to a trajectory akin to that observed with gold after its ETF approval. Bitcoin spot ETFs are regarded as the "holy grail" of crypto adoption, offering a more direct and potentially safer investment avenue into Bitcoin compared to futures ETFs, which do not hold the underlying asset. The potential influx of capital into Bitcoin ETFs is substantial, with predictions suggesting that up to $100 billion could flow into these ETFs in the U.S. alone this year. Such significant capital inflow is expected to have a ripple effect across the broader crypto market, including altcoins and Web3 projects. Moreover, the approval of Bitcoin ETFs is also seen as a positive development for the non-fungible token (NFT) market. Industry professionals argue that the ETF approvals could boost the NFT ecosystem, which has experienced a downturn. The increased acceptance and understanding of Bitcoin as a result of the ETFs could spill over into the NFT space, driving investor curiosity and appetite for NFTs as viable investments alongside Bitcoin. This could lead to a broader embrace of NFTs and potentially revive interest in Ethereum-based NFT projects, such as Bored Ape Yacht Club and CryptoPunks.
Target Audience: Saving DAO's target audience encompasses a broad spectrum, including:
1. Individuals with a keen interest in Web3, blockchain, and digital transformation, seeking to learn, network, and participate in this emerging digital economy.
2. Web2 Enterprises aspiring to transition into the Web3 space, in pursuit of professional guidance, partnership opportunities, and the potential benefits of blockchain technology for their operations.
3. Investors and Enthusiasts eager to support and be part of innovative projects within the Web3 domain, including those attracted by the potential returns from DeFi projects and NFTs.
4. Developers and Visionaries driven to contribute to the growth of the Web3 ecosystem, explore collaboration opportunities, and uncover cutting-edge technological advancements.

PreviousVision NextProject Description

Last updated 1 year ago

Market Analysis

Providing practical experience through the task platform and collaborations with Web3 projects, allowing members to apply and enhance their skills in real-world scenarios.

Industry Landscape: The Web3 domain is withnessing an exhilarating surge, exhibitinga vibrant and promising trajectory. Several pivotal indicators underscore the robust vitality of this burgeoning realm:
1. Sustained Developer Activity Growth: The developer community's engagement with Web3 technologies continues to escalate, as evidenced by the historic highs reached in Ethereum SDK and wallet SDK installations. Notably, Ethereum SDK installations surged by 31% year-over-year, while wallet SDK installations skyrocketed by a staggering 126%. Remarkably, in Q2 2023, the weekly download count for Web3 wallet SDKs reached an astonishing 11 million, nearly tripling the figures from the previous year. This trend reflects the heightened interest and participation of developers in the Web3 space.
2. Exploration and Implementation of Novel Use Cases: Innovative projects have demonstrated the vast real-world application potential of Web3 technologies by pioneering cutting-edge, Web3-driven use cases. Polygon and Base have seamlessly integrated technology and practice by driving novel Web3 applications. The Pudgy Penguins collaboration with retail giant Walmart and zkSync has yielded a fusion of virtual and physical realms through their toy and collectible series. WiPro has deployed a new Polygon PoS-powered supply chain platform incubated by Shell, while Franklin Templeton introduced the first U.S. registered mutual fund to leverage a public blockchain for transaction processing and share ownership recordkeeping.
3. Asset Tokenization and Mainstream Adoption: The tokenization of assets has continued to gain traction in 2023, offering the potential for digital representation and trading of virtually all real-world assets. This trend holds the promise of fundamentally transforming financial markets and numerous traditional industries. Concurrently, as Web3 technologies mature, an increasing number of concrete application cases are emerging, capturing not only the attention of early adopters but also prompting traditional enterprises to integrate Web3 into their business operations, exemplified by Starbucks' introduction of its NFT-based loyalty program, Starbucks Odyssey.
4. Focal Points: Security, Account Abstraction, and ZK-Rollups: In the realm of security, smart contract security remains a paramount concern for developers, given the risks associated with vulnerabilities in the DeFi space. Additionally, account abstraction and ZK-Rollups (a Layer 2 scaling solution) have garnered significant developer interest, as these technologies aim to simplify user experiences and enhance the scalability of the Ethereum network.
5. Web3 Adoption from Web2 Incumbents: Prominent brands have set their sights on leveraging Web3 technologies to create unique user experiences. Nike's launch of the Our Force 1 NFT experience and Google Play's decision to allow developers to integrate blockchain-based experiences, including the use of NFTs and tokenized assets, into their apps and games exemplify successful instances of major brands embracing Web3 technologies.
Growth Prospects: The Web3 realm holds immense potential, brimming with myriad growth opportunities: Decentralized Finance (DeFi) and Blockchain Applications DeFi has catalyzed a paradigm shift from traditional banking, empowering users to manage funds through non-custodial wallets and smart contracts. This model fosters transparency, mitigates credit risk through overcollateralization, and ensures liquidity. Notably, even amidst market volatility, Web3 lending platforms have exhibited remarkable resilience, disbursing over $200 billion in loans with minimal bad debt. Investment Landscape The investment market within Web3 is fiercely competitive, witnessing an influx of capital. The ecosystem's development is fueled by a symbiotic blend of financial motives and value-driven principles, urging founders to prioritize community building and effective communication. While some investors harbor skepticism, Web3's role as the foundational layer of the metaverse underscores its significance and expansive potential. Innovation and Infrastructure Development Web3's architecture encompasses crucial services such as digital asset storage, crypto payment solutions, and wallets. However, areas for enhancement exist, including the development of automated payment systems and solutions for identity transfer and NFT trading between wallets. The forthcoming integration with Central Bank Digital Currencies (CBDCs) will necessitate innovative solutions. The Convergence of Artificial Intelligence and Web3 The fusion of artificial intelligence and Web3 is ushering in a fascinating evolution of the digital landscape, promising a more decentralized, intelligent, and user-empowered internet future. These technologies are shaping multiple domains: In the security realm, AI holds the potential to predict and mitigate fraudulent activities, bolstering the overall security of blockchain networks. Within the DeFi sphere, AI can optimize lending protocols in real-time, enhancing the adaptive intelligence of decentralized applications (dApps). Furthermore, AI is poised to revolutionize dApps by introducing functionalities such as personalized NFTs, amplifying user interaction and engagement within the Web3 space. The Rise of Decentralized Autonomous Organizations (DAOs) Decentralized Autonomous Organizations (DAOs) are emerging as a significant force within the Web3 ecosystem, revolutionizing how communities collaborate and make decisions. They offer a structured, democratic approach to governance across various projects and initiatives. For instance, venture capital firm Bessemer Venture Partners launched a "community-as-a-scout" program and a curated talent collective through its DAO, fostering collaboration, idea exchange, and democratizing access to venture capital, underscoring the growing importance and versatility of DAOs in supporting the Web3 ecosystem. The Impact of Bitcoin Spot ETF Approval The U.S. Securities and Exchange Commission's (SEC) approval of spot Bitcoin ETFs marks a pivotal milestone for the crypto industry and is anticipated to have far-reaching implications for Web3's growth and the broader crypto ecosystem. This approval is expected to bridge traditional finance (TradFi) with the emerging crypto markets, potentially unlocking substantial capital inflows into Bitcoin and, by extension, the wider crypto and Web3 spaces. Analysts and industry insiders predict that the approval could pave the way for increased institutional and retail investment in Bitcoin, driving up its price and potentially leading to a trajectory akin to that observed with gold after its ETF approval. Bitcoin spot ETFs are regarded as the "holy grail" of crypto adoption, offering a more direct and potentially safer investment avenue into Bitcoin compared to futures ETFs, which do not hold the underlying asset. The potential influx of capital into Bitcoin ETFs is substantial, with predictions suggesting that up to $100 billion could flow into these ETFs in the U.S. alone this year. Such significant capital inflow is expected to have a ripple effect across the broader crypto market, including altcoins and Web3 projects. Moreover, the approval of Bitcoin ETFs is also seen as a positive development for the non-fungible token (NFT) market. Industry professionals argue that the ETF approvals could boost the NFT ecosystem, which has experienced a downturn. The increased acceptance and understanding of Bitcoin as a result of the ETFs could spill over into the NFT space, driving investor curiosity and appetite for NFTs as viable investments alongside Bitcoin. This could lead to a broader embrace of NFTs and potentially revive interest in Ethereum-based NFT projects, such as Bored Ape Yacht Club and CryptoPunks.
Target Audience: Saving DAO's target audience encompasses a broad spectrum, including:
1. Individuals with a keen interest in Web3, blockchain, and digital transformation, seeking to learn, network, and participate in this emerging digital economy.
2. Web2 Enterprises aspiring to transition into the Web3 space, in pursuit of professional guidance, partnership opportunities, and the potential benefits of blockchain technology for their operations.
3. Investors and Enthusiasts eager to support and be part of innovative projects within the Web3 domain, including those attracted by the potential returns from DeFi projects and NFTs.
4. Developers and Visionaries driven to contribute to the growth of the Web3 ecosystem, explore collaboration opportunities, and uncover cutting-edge technological advancements.

PreviousVision NextProject Description

Last updated 1 year ago