The previous bull run was triggered by the ICO boom in 2017 - people investing in ERC-20 tokens and therefore creating a massive demand for buying cryptocurrencies.
The current bear market has gotten people to predict, what could fuel the next bull run for cryptocurrencies?
We can make a compelling case that it could be digital collectibles, built with ERC-721 token standard.
Recent data is supporting that the demand for collectibles is on the rise:
We might even think of the previous ICO boom & bust as validation for collectibles. In essence, an ICO token was mostly just that - a poorly designed, falsely promoted, and unusable collectible.
Considering this, I can see a well designed, limited collectible which you can use and speculate upon, attracting a lot of popularity in 2020-2022.
You might think that digital collectibles are a niche, and people are not interested in speculating with it. However, how many people believed in 2016 that every kid with a dog would be interested in investing in “distributed computing tokens”? Probably not much.
Probably the most famous token sale here is Gods Unchained, a blockchain-based game that just recently outsold all of its cards for 33,333 ETH, worth over 6 million dollars at that time, as ERC-721 tokens.
Just as I’m writing this blog post, I received an email of how the founder of Max of Make Fortnite Skins launched his site that empowers users to make their own characters for the video game Fortnite. Less than a day after launching it, it had 150,000 visits on the page.
If making investing in collectibles easy and rewarding, it should attract a ton of speculators to the table. I’m keeping my eyes on it.
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