Predictions for 2022

The chief product officer at Coinbase shared predictions about DeFi, metaverse, zero-knowledge proof technology, ETH scalability, and NFTs in 2022. 

For NFTs, he stated that “they would become the next evolution for users, digital identity and passport to metaverse”.

Investment in NFTs will continue to increase and with metaverse, a new Instagram for brands will be created. Also, Web2 companies will try to get into Web3 and metaverse. 

For DeFi, the executive predicted that regulations will be embraced by DeFi protocols and a separate KYC user pool will be created.   

The executive further predicted that in 2022, “DeFi insurance will get started”. This will protect users at the time of hacks, as insurance protocols will assure that users’ funds are protected against breaches. 

For ETH scalability, the executive said that “it will improve, but newer L1 chains will witness substantial growth”.   

Disclaimer: The article is just to provide information and shouldn’t be considered as any financial advice. It is advisable to conduct thorough research before investing in any cryptocurrency.

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