🧘‍♂️ALERT: Big Cryptos 2022

Market Meditations | January 3, 2022

3 Hot Themes

Dear Meditators

Happy New Year. If your resolution was to level up your crypto game, you’re in the right place.

Today’s Meditations:

  • Eminem’s Newest Pet – BAYC

  • Big Cryptos For 2022

  • The DAO Movement

  • Crypto Calendar of the Week

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? Eminem’s Newest Pet – BAYC

While there are many popular NFTs, the Apes (BAYC and MAYC) are leading the way. Recently famous music artist, Eminem, purchased a Bored Ape for $462K! Eminem acquired Ape 9055 (BAYC) and added it to his collection

But why would someone spend so much money?

  • Status. Celebrities, artists, athletes, and influencers alike know that NFTs are hot, and owning one could boost coverage for yourself. 

  • While some do it for the clout, others view it as an investment

  • Some do it for the artistic component. Though it may turn out to be a worthwhile investment, they bought it because they appreciated the piece. 

Because of the three bullets above, it is important to stay up-to-date with all endorsements of different NFT projects as this often raises the floor price

We should remember that while NFTs are currently pumping, it will not always be this way. We must be diligent about our research and know the team behind the project!

Our Market Meditations are longer format educational segments. Each letter features a Market Meditation which will deep dive and analyse a relevant crypto event, theme or tool. 

? Big Cryptos For 2022

It’s the question on everyone’s mind. Which cryptos look set to explode in 2022? Certainly DeFi assets seem to be making a comeback at the moment.

How best can we inform our opinion?

Fortunately, history doesn’t repeat itself but it does tend to rhyme.

Thereby a good way to position ourselves for 2022 is to look back to 2021. If we consider the Top 10 performers, we can draw popular themes in 2021 which may continue to shine in 2022. 

Source: Messari

This table shows the Top 10 crypto performers of 2021. From this, we identify 3 hot themes that may continue to flourish in 2022: 

  1. Metaverse. SAND, AXS and MANA are all metaversal cryptos. Institutions continue to flood towards Web 3.0, NFT Gaming and Virtual Reality,

  2. Alternative Layer 1s. LUNA, FTM, SOL and AVAX are all alternative layer 1s. The majority of these big winners rival Ethereum. They will likely continue to optimize fees, transaction costs and processing times.

  3. Memecoins. Like it or not, SHIB and DOGE have made impressive gains this year. These assets have powerful communities behind them and rather than wither away, their support seems to continue to multiply. 

Study these lessons from 2021 and use them to help identify big cryptos of 2022.

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✊DAOn With the Man

The development of web3 has been an increasingly topical issue as the popularity of NFTs, the metaverse, and working toward world digitization continues to gain momentum.

  • One of the pillars of web3’s decentralization is the DAO (decentralized autonomous organization). These entities replace middlemen and provide transparency and scale for the projects and platforms they govern while automating transactions

  • The advantages of DAOs reside in their ability to reduce the power intermediaries hold over the execution and overall functionality of a project. 

  • DAOs are particularly well-suited to governing web3 applications because they intuitively support a creator economy. Creators will be able to sell or rent their work directly to any user without the need for a centralized intermediary 

  • The counterargument for this grassroots, straight-to-market approach for the future of the internet takes the stance of consumer protection. With only the users left to essentially manage themselves, the opportunities for scams and exploitations increase.

Content ownership is a pivotal issue web3 solves. With creators currently being forced to submit or sell their work to centralized entities, they have limited control and recourse when it comes to vending their work. 

A decentralized approach to web3 may be just what the internet needs to fully realize its role as a content-driven safe haven for creators. DAOs fit the job description to a T when it comes to governing such an ambitious venture. 

To explore DAOs, you can check out their dedicated category on Coinmarketcap.

On Mondays, our ‘Scan The Week’ section is designed to show our community what events and headlines we will be keeping an eye on.

Monday, 3 January

Wednesday,  5 January

  • ? ALEX AMA on Upcoming Mainnet Launch

    ALEX is the first full defi platform on Bitcoin via Stacks. The upcoming AMA will function as a question and answer session regarding the upcoming launch. 

Friday,  7 January

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??‍♂️✍️ Stories in this newsletter were written by Kyle F., Misael Calleja, Nick T., Max P., Kimia K., Ellen B. and Koroush AK. Graphics were produced by Gerasimos P.

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