From the subversive transformation from the bull market to the bear market, the Web3 narrative has always been an important topic of concern for industry enthusiasts. Along the way, the competition among new public chains, the debate over L2, the rise of NFT, the paradigm shift of VC...many technical hotspots have competed to become the disruptors in the market boom, leading the next new trend of Web3 development.
In 2023, Web3 will continue to drive the development of blockchain technology. With the advent of a new round of market enthusiasm, what new narratives are worth our attention and expectations? The TinTinWeekly column invited Cobb, the Chinese head of Topia, Tongjun, the founding partner of Xsight Venture, Sunny Wenjie, the co-founder of Nswap, and Jisige, the head of CoinW social media, to explore the market hot spots in the Web3 narrative in 2023 and predict the future development direction of encryption.
Wonderful Views
Market conditions for popular Web3 narratives such as infrastructure, DeFi, and NFT
How ordinary users can participate in Web3 narrative investing and trading
The relationship between the Web3 narrative boom and the cyclical fluctuations of the digital asset market
Infrastructure, DeFi, and NFT may become a new starting point for Web3 narrative
In the last bull market cycle, DeFi became a new starting point for the Web3 narrative. Then, public chains such as BNB, Polygon, and Solana achieved great success and continuously created various wealth-making myths in the market. Behind each wave of encryption, there is the birth of a new narrative, and the existing narrative will also gather a strong consensus mechanism in the market. "For the market facing Web3, the first is infrastructure, which has greater narrative space and imagination; the other is application facilities. Hot spots like GameFi and SocialFi will definitely rise again, which is also an important direction that many Hong Kong investors are still paying attention to," Cobb predicted when talking about the new round of Web3 narrative craze.
In addition, NFT has also become a hot topic in the current market. Sunny Wenjie believes that the development potential of NFT is still rapid, but surpassing BAYC is an important goal, so as to attract more new users and investors, continue to contribute to the NFT landscape, and help it stand out in the Web3 narrative craze. To better build the NFT industry ecosystem, we can also use the AIGC + NFT narrative model to build a community culture. When it develops to a certain scale, it will become the key to the next round of bull market.
So how can we better leverage the appeal of NFT and get more users to pay for it? Perhaps one answer is to closely integrate with users’ daily consumption scenarios. “For example, we can expand the consumer group by combining with trendy brands that young people like, and give branded collectibles that symbolize status to make NFT more realistic. Such large-scale landing applications can allow NFT to lead a new round of market trends,” Jisige summarized.
Method + Caution + Patience = The Path to Deep Participation in Web3
It is not enough to understand the Web3 narrative of the market boom. In-depth participation requires methods and paths for efficient investment. Therefore, allowing more ordinary people to participate in investment transactions of Web3 narratives has become the focus of on-chain application development. First, we must grasp the information gap (time gap) and follow smart people to use e-commerce analysis tools to grasp the investment trend; second, we must be good at using social media, such as following potential projects on Twitter, to collect, classify and filter information on the market; finally, actively participate in some gameplay of market exchanges to grasp the cutting-edge dynamics and meet more like-minded partners.
Entering the Web3 industry is not something that can be achieved overnight. In addition to the above-mentioned "three-step" method, Sunny Wenjie, Jisige, and Zhaozhao all mentioned that users must learn to be cautious and patient, accumulate capital to have more investment opportunities, wait in a bear market, and dare to attack in a bull market, and constantly explore the market to grasp the new direction of development. There are also common skills such as "buy new instead of old" and "cyclical macro market judgment" that are worth accumulating in users' spare time.
Only with risk awareness can we better cope with market fluctuations
As waves of market enthusiasm rise, investors often pay attention to the relationship between Web3 narrative and fluctuations in the digital asset market. This is not only related to the direction of the Web3 industry track, but also to the intention of users to get involved. At present, the liquidity of the Web3 market is lacking, which will to a certain extent restrain the transaction speed and replacement of the digital asset market. The current digital asset market still has some uncertainties, which is inseparable from the fact that Web3 is still in a bear market. All Web3 users must be aware of risks, especially the instability of the Web3 narrative may cause the frequency of cyclical fluctuations in some digital asset markets to increase. Therefore, it is necessary to always remind yourself not to add positions to the maximum. Zhaozhao made such suggestions to the audience who want to participate in Web3 investment.
The future of Web3 is still full of challenges. We should proactively accumulate strategies and think about technology optimization so as not to lose our way in the market.
