🔥 Decentralized storage: The market is maturing, and the growth of decentralized protocols will require more and more decentralized cloud storage. The emergence of new AI applications requiring increasing storage capacity, coupled with the growth of decentralized platforms, is creating an explosive cocktail for decentralized storage. A large enterprise adopting one of these cloud solutions could be a catalyst for mass adoption. Storj, Filecoin, or ImpossibleCloud already offer solutions cheaper than centralized cloud platforms such as AWS, Microsoft Azure, or GoogleCloud.
🔥 Real World Assets (RWA): DeFi is often criticized for its disconnect with the real world, and this criticism is justified despite the innovations we see in the industry. In 2022, the narrative of “real yield” was launched, primarily from trading activities, and 2023 could be the year of “real yield from RWA”. Reference protocols like MakerDAO have already entered the race with loans allocated to traditional banks like Société Générale. Centrifuge, which is already an RWA facilitator for MakerDAO’s $DAI stablecoin, is looking to back AAVE’s new $GHO stablecoin.
🥶 Insurances: Decentralized insurance is still an under-explored space within web3 despite its obvious usefulness. Decentralized Finance is once again the most advanced, with players such as Nexus Mutual, which offers on-chain coverage against protocol hacks, exploits, asset depegging, or validator slashing. Some traditional insurance players, such as Lemonade or Wakam have launched small-scale pilot projects. The nature of digital ownership allows for free control of assets but also entails significant risks that hinder mass adoption (loss of access to one’s wallet, hacks, etc.). Decentralized insurance solutions are essential to reach the remaining 99% of the population.
🥵 Web3 Gaming: “Web3” games were highly talked about in late 2021, especially with the emergence of Play2Earn (P2E) games like Axie Infinity or Step’n. A wave of P2E projects emerged with a very questionable value proposition, often relying on inflationary token rewards. As long as player experience is not front and center in the design of web3 games, the token or NFT element will look like a pointless innovation. The breakthrough may come from established gaming actors who want to embrace web3, such as Voodoo which is preparing to launch its token.