// Trends
Web3 Tokens to Watch in 2023
// Trends
The cryptocurrency market is swiftly developing. Expectedly, by 2023 Web3 assets will show the most remarkable growth. Currently, metaverse tokens are in demand, while Web3 altcoins support the virtual world economy with their systems and decentralization. There are several cryptocurrencies you must know of now and in 2023.
In 2021, the crypto market capitalization was 3 trillion dollars, yet now it is just 1 trillion. Considering some financial factors, it is high time investing some funds. The prime task is to select the coins that would become beneficial investments.
At present, Web 3.0 is just a collection of applications on the blockchain that are compatible with metaverse ideas. For instance, Decentraland allows managing the virtual world by owning and trading digital property. The users need Land to start. It proves the ownership rights. Mana cryptocurrency makes buying Land and other products easier in the virtual world. Users can trade Land tokens on the market and trade items within the metaverse.
Web 3.0 Internet is the main metaverse component. Furthermore, it has fewer limitations than Web 2.0, where interaction requires allowance.
Since the pandemic in 2021, the technology sector, especially digital assets, has been experiencing significant changes. 2022 will offer loads of investment opportunities, trends in the cryptocurrency world, and blockchain technologies updates that will be the ground for Web 3.0.
Mukesh Ambani is an Indian businessman and blockchain believer who thinks the technology will revolute the financial and economic sectors. To his mind, it is high time for justified costs regardless of the location and economic class. It will only be possible with Web 3.0. Expectedly, only the developers and users will own the new network. They will use Web3 tokens to manage the network.
This project is rated 22nd in the cryptocurrency market with 3.3 billion dollars in capitalization. 47% of the token offering is already trading on the market.
Chainlink is a decentralized oracles network that provides data flow for smart contracts employing different blockchains. In other words, the project is designed to support blockchains. The primary purpose is to make smart contracts even more potent by using dynamic outputs. Oracles are objects that link actual world data with decentralized systems.
The Grayscale fund owns Link tokens in its portfolio. The current token price is promising, and the possible future price can be $73-114 per token in the short term, while long-term investors can expect $525 and more.
This project is rated 38th on the global coin market. It is a coin and a blockchain with a 1.6 billion market capitalization.
Filecoin is a decentralized network that functions on a P2P system designed for storing data. To put it another way, users buy, sell, rent digital space, and even get FIL coins as a reward. This project is definitely worth attention since it has shown some satisfying dynamics in the past and is now actively developing.
According to the graph, it is hard to predict the possible cost in the future, yet the highest value was $200 per coin. Now the price is below 7 dollars.
This token is 74th, according to CoinMarketCap. The capitalization is about 587 million dollars. All tokens possible are now in circulation; therefore, there will be no new assets. The supply and demand law says the price will grow significantly if the project develops.
The project employs Ethereum blockchain with a PoS algorithm. Basic Attention Token is a marketing project. Anyone can advertise their product by visiting the developers' website and making a deal.
Many funds and companies own these excellent tokens. Basic Attention Token appeared in 2017 and is still developing.
Technically, $0.3 and $0.23 are fair prices for buying some BAT from a technical point of view. Shortly, the cost can get to $2.2 and $3.
It is an open-source code project. Kusama is a scalable blockchain network functioning on a Substrate framework. The project allows the platform for art and rapid innovation implementation in life. The central concept of the network is to disrupt the status quo and put power back in the hands of users. Gavin Wood created Kusama; he also developed Polkadot and participated in Ethereum.
KSM is the network token. It allows defining the validators, verifying the network, and voting on referendums. According to WalletInvestor, the price can reach $4000-5000 per coin by 2026. Currently, KSM value is about 50 to 70 dollars.
It is a new solution for decentralized data storing that allows storing information with no time limitations, namely forever. According to the developers, the project is a single colossal memory disk that never loses or forgets data. Arweave allows storing and memorizing any information, applications, or history for any period. Furthermore, the users can’t edit the information after it is saved.
Arweave developers call their network Permaweb — a new-age network. Any user can contribute to the network and get AR cryptocurrency as a reward. The only requirement is storing their data in the network. Moreover, the web offers lending space on hard drives or creating software for the network to gain income.
Arweave fixes the following issues:
The market capitalization is $385 million, and a token costs 10 to 12 dollars.
HNT is one of the up-and-coming cryptocurrency projects. Helium Network is often called a people’s network. The project consists of distributed wireless access points with a vast range. Proof of Coverage is a consensus mechanism with an HNT cryptocurrency reward. Helium Network can be called one of the largest IoT networks, with more than 300 thousand access points.
There are several handy options for the investors to get the cryptocurrency:
The cryptocurrency costs 8 to 12 dollars, while the market cap is about 1.2 billion. The max coin offering is 223 million HNT, and 54% of coins are in circulation.
This project is a streaming video platform that rewards users for bandwidth and computing hardware. One of the founders of the YouTube platform, Steve Chen, believes that Theta could disrupt the online video sphere. The process would be very similar to what YouTube itself did in 2005. Theta solves the problem of delivering content to certain parts of the world by cutting costs. The developers believe providing the highest quality streaming video for any user is necessary.
The Tfuel project token does the wage. Payment occurs if the user shares their computing resources and bandwidth. There is also a classic asset called Theta, and it is needed to manage the platform itself.
Another platform plus is open source, allowing developers to add innovations. PoS and BFT are responsible for security.
The project provides the tools you need to create Web3 applications. It is an asset worth paying attention to in the next 1-2 years. Ocean Protocol decentralizes data exchange and access, which gives full publicity and transparency during the acquisition or implementation of data. The ecosystem is constantly evolving, growing, and improving.
The creators have made an excellent approach to token distribution, which helps stimulate long-term stability and growth in the asset's values.
Currently, the asset is trading at a price point of $0.2 to $0.3. The maximum supply of tokens is 1.410 billion, with 613 million coins circulating.
The Kadena platform is designed to enable financial systems in a global market. The challenge is to leverage innovative efficiency, PoS security, and smart contracts. Compared to other platforms, which consume a lot of energy when network demand grows, Kadena does not change performance using the same amount of resources. This is due to braided chains; 480,000 transactions can be processed per second. As new chains are added, the protocol has more processing power.
The project's token is KDA and is needed to process transactions on the blockchain. The total issuance is 1 billion coins, which are planned to be mined for 120 years. The asset's price is in the $1.5-2 dollar range with a capitalization of 304 million.
It is another decentralized platform that uses open-source code. Smart contracts manage access control, and multi-signs help to share ownership. RAD cryptocurrency is available to users, which allows them not only to sponsor the project and participate in its management.
The coin's value is about $2, and the market capitalization is only 57 million. The project is undervalued and vital to Web 3.0 and its development.
Chromia was launched in 2019. It is a relational blockchain that enables developers to create and implement projects on blockchain many times faster than with classic smart contracts. The SDK helps new creators deploy dApp applications seamlessly and intuitively. For example, cryptocurrency games My Neighbor Alice and Mines of Dalarnia were created with the support of the Chromia platform. Both games are valued at $130 million.
Chromia is a new idea, and the project ecosystem is still developing. On Web3's list of top tokens for 2023, the CHR coin is undervalued by investors who invest in Metaverse platforms. It's time to keep an eye on the asset as more and more apps and games are created.
WAX blockchain was launched at the end of 2017. It is currently one of the best for the GameFi sector and Metaverse cryptocurrencies. WAX stands for "Worldwide Asset eXchange™" and is best suited for metaverse and compliant projects, providing low gas fees and high transaction throughput and functions on DPoS. Transactions are paid with CPUs, RAM, and NET.
WAX is very similar to Chromia, user-friendly, and a must-know for 2022-2023. Many popular games and other projects are on the platform, indicating the potential of the WAXP token in the long run.
This is one of the best innovative projects that has managed to bring competing Web3 cryptocurrency solutions together. It is excellent if there are a lot of Web 3.0 solutions that can solve real problems. But if the market is fragmented, the entire 3rd gen ecosystem could slow down. In that case, Cosmos will come to the rescue, solving blockchain interoperability problems.
For example, Bitcoin and Ethereum are independent projects, two different blockchains that cannot exchange data. Cosmos solves this problem; thus, any cryptocurrency can communicate with any blockchain network. Atom is Cosmos' token that is a must-have in the portfolio. It ranks 30th on CoinMarketCap, and trades in the $8-$6 range; at its peak, it was as high as $44 per coin. The optimal set of positions for long-term holding is $5-7 per asset.
Mana is the Decentraland metaverse cryptocurrency. Investing in this kind of Web3 token is one of the best solutions for those who want to invest in the birth of virtual worlds. Decentraland is an opportunity to bridge the gap between the real and digital worlds with virtual reality. With the project token, there is an opportunity to buy land, rent it, build buildings, and much more.
After acquiring virtual land, users can build any property (shopping mall, apartment, house, or casino). It is these buildings bring a lot of profit, and they can be converted into real money. It should be noted that many real estate-related projects that have been created in Decentraland since the launch of the ecosystem have been sold for millions of dollars.
Mana cryptocurrency is considered one of the best Web 3.0 blockchains in terms of performance. At launch in 2017, the asset's value was almost 3 cents. In 5 years, the price reached $5.9. Currently, the price is 80 cents.
GRT is the best Web 3 cryptocurrency for blockchain indexing, and the data overload segment of the Web 3.0 ecosystem needs to improve, which is where The Graph helps. Blockchain protocols greatly facilitate the number of transactions, which can cause problems with the efficiency of a particular network. For example, the more projects come out based on Ethereum, the higher the transaction fees.
Graph tackles this concern by indexing the blockchain. Irrelevant information begins to be stored outside the main chain, which boosts the network, increasing efficiency.
The GRT token is something that can be purchased for profit. It is worth noting that any blockchain network that uses the tool must pay fees in GRT cryptocurrency, which can positively affect the asset's market price. Now the value of 1 coin is around $0.12, with a growth potential of at least $2.3, and in the future, up to $15. The asset is undervalued yet will show all its possibilities; the project is actively developing, and the developers are constantly busy improving and innovating.
To make a good decision, you will need to conduct your analysis and study the project in more detail. This will give more confidence in buying a particular asset. Several investment merits will show up in becoming familiar with the best Web3 assets.
The main advantage of investing in Web3 tokens is the ability to access decentralization automatically. This is the basic idea that humanity first saw in the markets in the form of Bitcoin. In basic terms, decentralization helps eliminate third parties during transactions, making the process much easier.
For example, today's Internet is directly dependent on a provider or service provider that stands in the way between the user and the sites. This causes some difficulties because a centralized system has complete control over access to the Internet. If Web 3.0 gives people decentralization, sites' information will begin to be stored on numerous servers in different parts of the world, eliminating the ban or restriction of access to them.
By introducing the new generation of the Internet, the authorities will not be able to impose their restrictions, so citizens of any country can go to any web resource. For a long time in the PRC, Google, YouTube, and Facebook and all their products have been banned. From this, about 1.5 billion people do not get access to content without a VPN. There are similar problems in other countries, especially regarding news from their international sources.
The concept of Web 3.0 is a decentralized system for which no permissions are needed, which guarantees complete freedom for users, and the network itself will no longer be censored.
An equally important benefit of buying Web3 coins is that future cryptocurrencies have excellent growth potential. There is a chance that a properly formed investment portfolio will show growth as the Web 3.0 ecosystem evolves. In other words, change in terms of money can last for years with thousands of percent returns.
For example, the Mana asset of the Decentraland project showed 23,000 percent growth after launching in 2017. In other words, by investing $100 in cryptocurrency five years ago, you could profit 230 times more, which is not the limit. It should be noted that the Web 3.0 sphere is over-saturated, so no one can guarantee that it will be easy and fast to make money on investments in cryptocurrency.
Considering the possible risks of investing, investing in cryptocurrency is also about reducing likely losses through diversification. In simple terms, capital should be divided into several parts, buying different assets. Some of them can leave the market forever, some will show a slight price increase, but some will develop rapidly, giving investors a significant profit. It is this profit that will outweigh the possible losses of other cryptocurrencies.
For example, Ethereum is the preferred Web 3.0 blockchain. Many new projects are creating their platform on top of the network. Considering Solana, it is faster, cheaper, and much more efficient in scalability than Ethereum. Cardano and Neo are similar examples. It is prudent to diversify your funds by acquiring the assets of various Web 3.0 blockchains at once.
This rule also applies to meta-villages because they do not end with just Decentraland. This is not the only platform with virtual real estate. Popular ones include Sandbox, Axie Infinity, and others with a similar idea.
The next positive thing about investing in Web3 cryptocurrencies is that it is a young industry only at the beginning of its development. This makes it possible to invest in projects at the beginning of the ecosystem's emergence and, therefore, at the "lowest" and most profitable price per token. For example, one should look at the shares of large companies in their nascent phase. Microsoft (Web 1.0) and Apple (Web 2.0) are great examples.
Web3 crypto market growth is inevitable, and the network focuses on being helpful, decentralized, and open. There are more and more users; thus, the support can boost the Web 3.0 tokens' value growth. Anyway, please, bear in mind that investing in cryptocurrency is risky. Before investing funds, it is essential to analyze, invest, and set the risk and money management.
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