Anyone who has ever traded forex knows that 95% of traders fail, the same is true in the Crypto market. In order to provide readers with up-to-date information on the world’s developments in the cryptocurrency market and ecosystem, I would like to take a look at 5 hot tech-business models today.
I. Defi (decentralized financial transactions)
First of all, what is the concept of Defi – decentralized finance? Defi is a form of blockchain-based finance that does not depend on central financial intermediaries such as brokers, exchanges or banks to provide traditional financial instruments, but instead uses uses smart contracts on the blockchain, the most common being Ethereum. The DeFi platform allows anyone to lend or borrow from others, speculate on price movements on a wide range of assets using derivatives, trade cryptocurrencies, hedge against risk, and earn interest in savings-like accounts. DeFi uses a layered architecture and highly composable building blocks. Some DeFi apps offer high interest but high risk. As of October 2020, more than $11 billion (cryptocurrency conversion value) has been deposited into various decentralized finance protocols, representing over 10x growth throughout 2020. As of 2020. By January 2021, about $20.5 billion was invested in DeFi.
What are the popular Defi names? Here are the top Defi tokens by market cap:
– Uniswap: $8.7 billion
– Chainlink: $6.1 billion
– Wrapped Bitcoin: $5.8 billion
– Dai: $5.5 billion
See more at: https://coinmarketcap.com/en/view/defi/
II. NFT Marketplace
Many people still think that NFT is a picture or a video, but it is actually a token. NFT, which stands for Non-Fungible Token, is a unit of data stored on a digital ledger, known as a blockchain, that certifies digital assets as unique and therefore non-exchangeable. for each other. NFTs can be used to represent items such as photos, videos, audio, and other types of digital files. However, access to any copy of the original file is not restricted to NFT buyers. While copies of these digital items are available to anyone to obtain, NFTs are tracked across blockchains to provide owners with proof of ownership separate from copyright.
The NFT market value triples in 2020, reaching over $250 million. In the first quarter of 2021, NFT sales exceeded $2 billion. Big names about NFT Market can be mentioned: OpenSea, Rarible, SuperRare, Foundation, AtomicMarket, …
The most valuable NFT works traded:
- Everyday – The First 5000 Days: sold for $69 million
- CryptoPunk #3100: an extremely simple picture but priced at 7.6 million
- CryptoPunk #7804: a similar picture to the 2nd one costs $7.6 million
NFT is an extremely lucrative market today, but with high returns and high risks, investors should consider.
III. Yield Farming
Yield Farming is the term for those who generate as much return as possible from their invested assets by providing liquidity to DeFi protocols. Yield Farming allows anyone to earn passive income using a decentralized ecosystem of “currencies” built on different networks. Therefore, Yield Farming may change the concept of HODL for investors in the future. Why leave your assets idle when you can put them to work?
What are the top names?
– Uniswap: Annual interest rate – APR from 20-50%/year
– Aave: APR ~0.01% -15%/year
– Pancakeswap: 8-250%/year
– Curve Finance: APR ~2.5% to 25%/year
– Yearn Finance: APY ~0.3% to 35%/year
Recently, the appearance of EIFI with a huge number of customers.
IV. Finance Gamification (Gamification of financial services)
The term Gamification was first mentioned in 2008 by Blogger Brett Terill on his personal blog when writing about an online video game called Cameron. Brett uses the term Gamification to define “the actions of people who use game mechanics and apply them to other web properties to increase player engagement.”
Until now, Gamification and its great benefits have received more and more attention. If playing video games is considered a trivial and sometimes harmful entertainment activity, Gamification opens up a whole new capacity to enhance the effectiveness of education – an environment in which Gamification is seen as a new technology, involving the use of technical infrastructure, often including engaging online applications computer learning.
Today, Gamification is an ecosystem of DEXs, especially with the introduction of NFT games that help players both have fun and earn money. This is definitely a trend in this day and age.
V. NFD – Non Fungible Defi
Is a great combination of Non Fungible Defi protocol and High Yield Farming. It provides passive income for NFT investors. In essence it is also a type of Yield Farming but specializes in NFT.
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