Top trends to push web3 adoption in 2023
The Web3 movement is pushing the boundaries of blockchain adoption into mainstream usage. Web2 services have laid out several best practices. These are now being embraced by Web3 technologies to make them more accessible and secure.
Web3 adoption stands on the pillars of simplicity, security, and applicability. With these three components in place, Web3 can move out of its “Crypto” corner and into the public domain. Web2 concepts and Web3 execution is the way to go for mass adoption.
In 2022, the crypto hype cycle ended. Now businesses are more focused on the “utility” of a Web3 project. Following the top 7 trends in 2023 will resurrect crypto and take it to its full potential.
Mainstreaming crypto-fiat gateway
Thanks to the rising popularity of blockchain and its use cases, crypto payment gateways are expected to be in higher demand than ever. Businesses that want to accept crypto over fiat money can do so easily with the help of these crypto gateways, making crypto adoption much simpler.
One such platform is NeoFi. The upcoming crypto exchange is designed with Web3 standards, and its high-end security system ensures safe transactions without fail. Moreover, this crypto gateway also comes with an integrated crypto exchange that converts crypto into fiat currencies, covering all bases for merchants who wish to adopt crypto payments. On top of that, NeoFi only charges a transaction fee of 1.9%, making it a great choice for those looking to go crypto.
NeoFi believes that providing retail investors easier access to the crypto world can revolutionize the industry. Thus, giving these investors a fair chance of making great gains just as any experienced investor could.
This solution is intended to make investing in cryptocurrency far simpler and more accessible for those unfamiliar or comfortable with the traditional ways of trading or the amount of time needed to keep up with the ever-changing markets. With this aim, NeoFi’s curated crypto investment baskets come in handy as a verified and researched bundle of crypto that is expected to provide returns while managing risks. Something like mutual funds of stock markets.
For more, join NeoFi’s Telegram channel.
Traditional companies adopting Web3
In the past couple of years, many Web2 companies providing crypto payment options and incorporated blockchain elements like NFTs into their services. Blockchain is here to stay as more people become familiar with its transformative potential.
Experts identify that an increased focus on designing user-friendly interfaces is essential for blockchain technology to gain even wider adoption.
Gaming will drive mass crypto adoption
We expect to see a wave of high-quality games emerging in the market over the next few years that will bring mass adoption. This will likely come from Asia first, and then eventually North America. Experts anticipate growth in the industry, potentially reaching hundreds of millions of gamers by 2023 or 2024.
Fusion of crypto and AI
Artificial Intelligence (AI) has become increasingly popular and adopted in various industries, from healthcare to finance. Dall-E and ChatGPT are just a few AI examples showing that AI can provide helpful applications in many fields. Experts now see AI becoming a part of cryptocurrency projects in 2023. AI could detect fraud, discover market trends within cryptocurrencies, and comb through a huge amount of data quickly and easily. Simply put, AI is expected to offer more effective and secure Web3 solutions.
More L2 protocols
Layer 2 (L2) solutions, for example, state channels, plasma chains, and rollups, enable off-chain transactions that are eventually resolved on-chain, resulting in quicker and cheaper transaction processing. By utilizing L2 technologies, Web3 apps can support sophisticated interactions and smart contract execution without sacrificing decentralization and security. This increases the accessibility and usability of web3 apps for a broader audience, hence driving their adoption.
NFT Corporate Adoption Likely to Rise
Forrester – the corporate growth consulting firm, emphasizes NFT’s importance in the new digital universe. NFTs seem to be the way of the future for top brands, and 2023 is sure to be full of NFT adoption as big names like Nike, Gucci, Samsung, and Nickelodeon jump on board. Starbucks has already taken advantage of NFTs with their loyalty program, proving that NFTs can bring substantial rewards – both measurable and worth boasting about.
CBDC adoption is rapidly becoming a global trend, and a study by Atlantic Council suggests that more than 20 countries will make significant progress in pilot testing CBDCs in the year 2023. From Australia and Thailand to Brazil, India, South Korea, Russia and more, many countries are planning to start or continue CBDC pilot testing next year. Moreover, this trend is not exclusive to emerging markets – the ECB will also likely enter the CBDC game in the upcoming year. With 114 nations exploring CBDCs which account for 95% of the world GDP, it’s clear that CBDC solutions will become an integral part of our Web3 reality in 2023 and beyond.
With new technologies and trends on the horizon, 2023 is a big year for Web3 adoption. So whether you’re an investor, developer, or enthusiast, get ready for an exciting ride because it looks like crypto is here to slay, er stay!