Metaverse on the eve of the explosion and NFT hampered by liquidity

Hong KongAnd the June 22 2022 /PRNewswire/ – Huobi Tech Capital, the strategic investment, merger and acquisition division of Huobi Technology Holdings Limited (“Huobi Tech”, stock symbol: 1611.HK) has released a research report titled “The Current Situation and Future of the Crypto Asset Market” (“Report”) in June 2022. Along with the new development of the blockchain industry since 2021, the report divides the crypto asset industry into five major infrastructures and 18 sectors aimed at the world of Web 3.0. The report analyzes the current status of DeFi, NFT, GameFi, DAO and other key sectors, and provides forecasts for development trends.

According to the report, with the widespread promotion of the decentralized storage technology represented by the IPFS protocol and 5G network, the interconnectedness of everything and the augmented and mixed reality-based metaverse industry is on the eve of the explosion. The metaverse will be closely linked to the crypto industry, with the blockchain-based NFT, GameFi and DAO sectors being an indispensable part of the metaverse. Currently, the metaverse is still in its infancy stage, and its infrastructure and technology still need to be developed.

As for NFT, the report believes that the future development of NFT is primarily hampered by declining liquidity, although there have been attempts to improve liquidity in the market. It has been proven that NFT is a niche market that will influence its development in the future. At the same time, since NFT does not have spot prices, the lack of flexibility and convenience in its pricing mechanism is also a hindrance to its future growth.

As for GameFi, the report notes that its popularity has declined, and it appears that it has reached a stabilizing stage in its development. In addition, since GameFi is an important component of the metaverse, its future development will likely depend on the development and integration of metaverse technologies, and by that time, GameFi may enter its own unique era.

The report predicts that in 2022, Web3.0 is definitely an indicator for the cryptocurrency market. Be it infrastructural or DAO infrastructure, both are the basic and essential infrastructures for building the Web3.0 world. Hence from the state of its development, the global trend of cryptocurrencies can be predicted very well.

Huobi Tech Capital is the strategic investment, merger and acquisition division set up by Huobi Tech in April 2022. It is committed to seizing opportunities in the Web3.0, DeFi, metaverse, and other related sectors.

Huobi Tech Capital focuses on early-stage projects that follow industry trends and strategic acquisitions that help boost the company’s blockchain ecosystem business. Recently, it was successfully deployed to GameFi and completed a project investment in the Family Office digital asset service platform.

Huobi Tech is listed on the Main Board of the Hong Kong Stock Exchange Limited in November 2016. Huobi Tech has been actively developing the blockchain ecosystem and virtual asset ecosystem, and is committed to becoming the leading one-stop compliant digital asset service platform. Huobi Tech currently offers data center services, cloud-based services, SaaS, virtual asset management, custody, trust, lending, OTC brokerage, and trading platform services.

Link to the full report here: https://www.huobitech.com/upload/20220622/5b7fffb0a8138d77b17655b656fd2c2d.pdf

Source Huobi Tech

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