2023 is the year crypto will have to grow up and clean up its act. Here are four predictions from Tal Elyashiv regarding the future of NFTs, the metaverse, CBDCs and institutional investments.
Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.If 2021 was the “Year of the Cryptocurrency,” then 2022 was the year it collapsed. Millions were made and lost by crypto investors while crypto companies were built and folded.
We’re already seeing Darwinism sweep through the market, with only the well-managed, well-intentioned companies surviving. While there will be more shoes to drop as we head into 2023, this process is needed and very healthy for the future growth of the digital assets ecosystem. The reshaping and rebuilding of the industry’s reputation and the way it does business will continue to be driven by institutional investors requiring more controls, risk management, transparency and reality checks.
But while the U.S. squabbles and debates, countries around the world are making progress and 2023 should see many of these regulatory regimes take shape. The recent narrative about the metaverse’s demise are premature, the same way the exuberance about its immediate relevance and market adoption a year ago was. No one should be looking at Meta and the overall building of the metaverse infrastructure as a 2023 or 2024 project. The truth is, the metaverse is inevitable, but it will take years to fully come to fruition. With that said, 2023 will mark the beginning of how we perceive “metaverse experiences.