Community builder & business strategist with a passion for empowering people through blockchain technology
Community builder & business strategist with a passion for empowering people through blockchain technology
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(INCOMPLETE) The following notes were translated into a deck for the Zilliqa Ecosystem - Figured I’d publish instead of disregard.
Influence & Opportunities
The global NFT market volume is expected to grow from $3 billion in 2022 to $13.6 billion by 2027 at a Compound Annual Growth Rate (CAGR) of 35.0% from 2022 to 2027. North America is expected to be the largest regional investor in terms of market size during this period while emerging Asia-Pacific is highlighted as best for investment according to the Messari 2022 Market Report. Trends driven by celebrity influence, supply chain management, retail, fashion, media and entertainment, revolutionary gaming experiences, and demand for digital artwork, will drive the competitive landscape. The most glaring market opportunity lies in the materialization of the metaverse and wide spread marketplace adoption.
Restraints & Challenges
Regulatory bodies, government agencies, and other organizations have been slow to define industry standards creating an absence of compliance surrounding blockchain technology. Lack of legal representation and absence of compliance pose security threats to users and hinder global adoption. Platforms coming together to define industry standards and consensus is becoming increasingly necessary to invite crypto novice users. Other risks and challenges include high and hidden fees, copyright protections, and security.
ESports & Gaming
Gaming is now bigger than music and movies combined. However, gamers have yet to define and implement the mechanisms to generate revenue and unlock the full economic value of their time and investments. An ecosystem that can fully support these incentives will retain the attention of the associated audience and become the beneficiary of the analytics, transactions, and unprecedented growth impelled by 250 million + world wide gamers. This holistic environment relies on four main factors to drive adoption:
Devs and partnerships + in game economy + permissionless asset ownership + time
Devs and partnerships
Faster, more affordable, and limitless transactions are fundamental to building a viable developer focused marketplace and metaverse. Primarily, Zilliqa was able to scale linearly by using sharding architecture, setting a new standard for L1s. With the introduction of Scilla, a proprietary smart contract language developed specifically for Zilliqa smart contracts, deploying d’apps on Zilliqa is fairly simple and approachable. The ZRC-7 metadata standard broadens the scope of properties necessary to represent file formats beyond just definable images and empowers devs and creators to leverage the industry’s best blockchain solutions. By providing developers with the autonomy to build simple to complex d’apps within the Zilliqa ecosystem, the network is leveraged to drive transactions and absorbs the audience utilizing the blockchain.
Likewise, strategic partnerships provide a similar retention with mutually complementary audiences. Incentivizing d’App development within an ecosystem stimulates transaction frequency and user loyalty. Usage encourages habit and familiarity, persuading further on-chain usage and chain native building.
DappRadar:
NFT Market Volume in 2021 = $25 billion
NFT Market Volum in 2020 = $95 million
(INCOMPLETE) The following notes were translated into a deck for the Zilliqa Ecosystem - Figured I’d publish instead of disregard.
Influence & Opportunities
The global NFT market volume is expected to grow from $3 billion in 2022 to $13.6 billion by 2027 at a Compound Annual Growth Rate (CAGR) of 35.0% from 2022 to 2027. North America is expected to be the largest regional investor in terms of market size during this period while emerging Asia-Pacific is highlighted as best for investment according to the Messari 2022 Market Report. Trends driven by celebrity influence, supply chain management, retail, fashion, media and entertainment, revolutionary gaming experiences, and demand for digital artwork, will drive the competitive landscape. The most glaring market opportunity lies in the materialization of the metaverse and wide spread marketplace adoption.
Restraints & Challenges
Regulatory bodies, government agencies, and other organizations have been slow to define industry standards creating an absence of compliance surrounding blockchain technology. Lack of legal representation and absence of compliance pose security threats to users and hinder global adoption. Platforms coming together to define industry standards and consensus is becoming increasingly necessary to invite crypto novice users. Other risks and challenges include high and hidden fees, copyright protections, and security.
ESports & Gaming
Gaming is now bigger than music and movies combined. However, gamers have yet to define and implement the mechanisms to generate revenue and unlock the full economic value of their time and investments. An ecosystem that can fully support these incentives will retain the attention of the associated audience and become the beneficiary of the analytics, transactions, and unprecedented growth impelled by 250 million + world wide gamers. This holistic environment relies on four main factors to drive adoption:
Devs and partnerships + in game economy + permissionless asset ownership + time
Devs and partnerships
Faster, more affordable, and limitless transactions are fundamental to building a viable developer focused marketplace and metaverse. Primarily, Zilliqa was able to scale linearly by using sharding architecture, setting a new standard for L1s. With the introduction of Scilla, a proprietary smart contract language developed specifically for Zilliqa smart contracts, deploying d’apps on Zilliqa is fairly simple and approachable. The ZRC-7 metadata standard broadens the scope of properties necessary to represent file formats beyond just definable images and empowers devs and creators to leverage the industry’s best blockchain solutions. By providing developers with the autonomy to build simple to complex d’apps within the Zilliqa ecosystem, the network is leveraged to drive transactions and absorbs the audience utilizing the blockchain.
Likewise, strategic partnerships provide a similar retention with mutually complementary audiences. Incentivizing d’App development within an ecosystem stimulates transaction frequency and user loyalty. Usage encourages habit and familiarity, persuading further on-chain usage and chain native building.
DappRadar:
NFT Market Volume in 2021 = $25 billion
NFT Market Volum in 2020 = $95 million
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