Annual Report 2021丨What to expect from the blockchain world in 2022?
2021 was an exciting year for the blockchain. The total market cap of blockchain projects surpassed $2 trillion, and Bitcoins price touched a record high of $67,674.
Meanwhile, Ethereum skyrocketed 5x in price after the London upgrade, while blockchain investment also flourished, with cumulative funding for the year topping $30 billion.
We witnessed the explosion of DeFi 1.0, followed by the booming multi-chain ecosystem and the rapid expansion of the stablecoin market.
2021s Biggest Trends
1. DeFi 2.0
The TVL of DeFi 2.0 projects soared from zero to $30 billion in 2021 within eight months.
Composable DeFi Legos have become some of the key features of blockchain applications—referring to components that can be combined and integrated across different platforms and apps.
DeFi 1.0 created liquidity, LP tokens, and decentralized stablecoins as the first generation of DeFi Legos. 2021 saw the rise of DeFi 2.0, which turned liquidity into a new Lego portfolio for DeFi.
Footprint Analytics – TVL of DeFi 2.0 Projects soared from 0 to 30 Billion in 2021
The TVL of ETH cross-bridge projects surpassed $25 billion in 2021.
The booming multi-chain ecosystem has made the flow of assets across different chains an immediate need.
Cross-chain bridge protocols are bridges to link assets across chains, allowing assets to interoperate and transfer across chains efficiently.
Footprint Analytics – TVL of ETH Cross-bridge Projects Surpassed 25 Billion in 2021
(Decentralized Autonomous Organizations) went from cryptocurrency jargon to an actual functioning part of the blockchain industry in 2021, with Uniswap DAO being the most influential.
ConstitutionDAO promoted the concept of DAO to the masses, while other projects brought DAOs to financial, musical, and cultural spheres.
Footprint Analytics – Uniswap DAO Has Become a Highly Influential DAO.
NFT projects monthly trading volume peaked at $5.5 billion in August and reached $21.5 billion in total by the end of the year.
NFTs mark ownership of digital assets in a decentralized way and have been instrumental in getting more people interested in blockchain technology.
From art collectibles to music and other areas like the metaverse, NFTs will change the way we experience the web, buy and sell art, consume branded products, and even create and experience music.
Footprint Analytics – NFT Projects Trading Volume Peaked at 5,586 Million in August
Embodying a new genre of play-to-earn games, the GameFi sector combines gaming, finance, and NFTs.
Axie Infinitys highest single-day revenue in July even surpassed the highest single-day revenue of the highest-grossing game in the world, Glory of Kings. Facebook changed its name to Meta, further driving the metaverse boom.
Footprint Analytics – GameFi Projects Trading Volume Increased More Than 28X in 20212021 Trends That Are Expected to Continue in 2022
More projects in 2022 will offer universal infrastructures for blockchain interoperability
Metaverse, Web 3.0（blockchain network infrastructure), NFTs, and GameFi
Web 3.0 infrastructure protocols are emerging and thriving—e.g. computation, storage, bandwidth and indexing.
NFTs with more utility, gaining access to super-exclusive communities
Brands and larger companies stepping up their experimentation with NFTs.
The biggest gaming companies moving into GameFi
Lending platforms starting to accept metaverse land as collateral for loans
NFT + DAO，GameFi + DAO
Social tokens, self-sovereign identity, and decentralized identity being established in the metaverse
New Trends Expected in 2022
The development and roll-out of more Layer 2 solutions will make Ethereum cheaper and faster.
Financial industry breakthroughs
More new applications incorporated with DeFi
Smart contract socialization
Transformation of tangible assets into digital assets, written agreements into on-chain contracts
Increasing adoption from institutions and companies
The use of crypto for payments is expected to gain further momentum in 2022
YouTube’s CEO Says the Company Will Explore NFT Features for Video Creators
YouTube is exploring adding non-fungible token features for its video creators, Chief Executive Officer Susan Wojcicki wrote to the site’s broadcasters on Tuesday.
Kanye West Says NFTs Reflect Why Celebrities Should Be Paid More For Media Coverage
Entertainers can benefit from the earning model propagated by the Non-Fungible Token (NFT) industry according to Kanye West, who now goes by Ye.
Economic Crisis In Turkey Brings Nation Closer To Crypto
Forex, Gold, and cryptos make the list of readily available choices, but cryptos seem to have pulled ahead in the recent past.
No Developed Nation Bans Cryptocurrencies, Telegram Founder Pavel Durov Warns Russia
Pavel Durov, founder of the messaging app Telegram, has criticized Bank of Russia’s proposal to impose a blanket ban on a range of crypto-related activities.
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