I am betting my money on these 2 projects
The most optimistic projects for this year.
Let me be honest! I made some serious mistakes last year. And I think to make things better, and I have contemplated enough on what made me prone to those mistakes. Those mistakes were to focus on lots of projects and over diversify the portfolio. The other day, I talked to one of my old college buddies, and he dropped me a text after disconnecting the call.
He said
“Now that I am off the hook from one responsibility, I want to focus on creating wealth. Can you tell me where and how much I can invest in Crypto such as Dogecoin, Shiba Inu, Ethereum”?
Honestly, I responded to him by saying,
“Everything else is fine, But do you know only about these coins or are these your favorites?
It made me wonder to write this article. I asked myself that now that market has corrected significantly, I could invest in a few projects this year to make a healthy return.
And so, with this, I started doing some research. I found out a few projects I am already aware of. But this time, I made sure that I went through their Whitepaper(If you are curious about how to read a whitepaper, I have it here) more thoroughly and extracted the development since they have launched the projects.
However, this time I will be focused on a few projects and a concise selection of those projects and their potential.
Curious to see what could be the most potential projects of this year?
The first one that came to my mind and I already have invested in is Near Protocol.
Yes, you heard it right!.
If you read my two-part article Part-1 & Part-II, you will find it surprising how I invested in Solana back in 2020 and not in Near protocol and how it was the right decision in hindsight.
If you are curious to know what made me choose Solana over Near protocol, I suggest you go through the above link.
BUT, with time, a lot has changed, and we constantly need to keep emotions and past biases outside of rationale decisions, so I researched Near protocol more thoroughly.
Web3 has been the hottest topic of this year since the start, and it should be. Web3 has shown people how they can own part of the internet. With Web3 on the rise, DeFi has been growing exponentially. Many enterprises, businesses, and start-ups are attracted to the popular DeFi platforms to access its usability and global digital market. Most DeFi applications are built on the Ethereum network.
As I already discussed in one of my earlier articles, Ethereum has been disturbingly expensive and congested because of the increased use cases of DeFi, NFTs. Owing to such limitations as unaffordable cost, low transaction speed, and unfriendly user interfaces, this is where Near exploits its potential with its scaling solutions through sharding features, simple user interface, and the meager cost of a transaction.
With a simple Nightshade rollout, NEAR can create multiple shards to scale the blockchain without congesting the network and compromising security. Near protocol has done progressively well since 2021, and it is worth mentioning.
Near has partnered with a couple of big names in the industry. Many are flocking in to integrate with Near owing to their potential and high-performance development.
- NEAR has partnered with Terra for UST integration, an algorithmic stable coin with interesting minting mechanisms.
- Near and Graph(Indexing protocol ) partnered for indexing and querying data across blockchains. It will enable developers to query data across different blockchains without much hassle.
- Near partnered with CV labs to open up and explore the possibilities of Web3
- Near partnered with Panther to deploy the privacy tech in the blockchain.
- Dragonfly capital, one of the big names in VC, announced a partnership with Near as an advisory Board.
Here are some of the links to the announcements:
https://near.org/blog/dragonfly-capital/
https://finance.yahoo.com/news/near-token-jumps-over-20-132954076.html
https://near.org/blog/near-and-the-graph-partnership/
https://www.binance.com/en/news/top/6889762
Not only these but there were also several announcements of funding and grants for ecosystem development. While these were very optimistic developments, actions such as the completion of Rainbow bridge and Aurora integration were some of the most promising announcements.
Rainbow bridge will enable participants to transfer ERC tokens to and from between Ethereum and Near. Aurora integration will enable layer-2 scaling solutions of Ethereum deployment on Near protocol, and thus assets on Ethereum can be accessed through the same. It is one of the most promising developments of the last year.
There are many other developments, which are not cited here but are very promising. These developments and partnerships are the confidence and trust on Near protocol’s team and their potential. The likely price appreciation of Near in this year is very high unless some black swan event crashes everything down.
The second and last on the list goes to Yield Guild Games, a Metaverse project, which is one of the hottest topics.
With the rise of DAO and social games that predates back to the pre-1980s, Metaverse has seen an exploding growth in its market cap. According to Coinmarket cap, the market cap of Metaverse is sitting at around 30 Billion as of today. This figure is tiny compared to the overall demand of the gaming industry. With that, this industry has just been growing and is yet to see significant growth in the coming years. And thus, the project YGG is a potential project for this year.
YGG is a DAO that powers the world of Play-to-Earn games by making it more globally accessible. It seeks to reduce the barrier of entry of market participants entering play to earn games. This intent is very significant as it can contribute to the less developed or developing economies where unemployment is a big issue.
YGG seeks to reduce the barrier by providing liquidity and acquiring NFTs for participants. It is an indication of why these guilds cultures can work and explode in coming years.
YGG has seen explosive growth in its social media interaction since its inception, which indicates people’s narratives.
Lately, YGG has partnered with several significant entities in the industry. Such developments can be a massive boost in the future as many famous and promising games have partnered with YGG.
Games such as Redfox, Theta-arena, Cyball, Vulcan forged, Aavaegotchi has already partnered among the other players. Similarly, Kollect has partnered with YGG to scale and access the market in a giant way for its SEA economy.
New investors such as a16z, Sequoia India, have partnered with YGG. These VCs are among the biggest firms in the industry.
Here are some of the links to these announcements:
https://readmedium.com/ygg-raises-4-6m-from-a16z-to-accelerate-play-to-earn-gaming-7f5cbccce657
https://blog.cyball.com/cyball-x-yield-guild-games-strategic-partnership-announcement-127a82fec581
https://readmedium.com/announcing-new-strategic-partnership-with-ygg-sea-8287e96e8918
Final thoughts:
So, looking at above, we saw how these developments are optimistic for Near and YGG, and we can expect a good return in the coming years from these projects. Keep in mind the market situation may change, but I intend to hold these at least for a longer term of 2 years.
Disclaimer: None of the content, in part or whole, articulated here is any financial advice. This article is about a part of my investment philosophy and a medium to generate awareness in the financial journey. Please consult your financial advisor before making any financial decision.
Apologies for the above disclaimer!
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