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The cryptocurrency industry is extremely rich with projects of all kinds. In fact, it’s an understatement to say that there are too many of them. However, trying out different things and taking different approaches to solve a single issue is necessary to find a method that works best. In the meantime, experimentations lead to new use cases and discoveries of new ways to utilize crypto and blockchain technology.
In other words, not every new project will be a good one, and indeed, many of them will eventually simply fade away. Some are scams that will be eliminated by the regulators, some are weak projects that will fail, and so on. But, there will be some that will succeed. Some hidden gems that will find their way, offer valuable use cases and blow up, maybe in a month, maybe in a year, maybe in 5 years. These are the projects that long-term investors are looking for, and so did we, to create the following list.
The first on our list is Elrond, which is a blockchain protocol that seeks to offer extremely fast transactions. Elrond’s idea is to use sharding to bring some of the fastest transactions that the crypto industry has seen, and it describes itself as a “technology ecosystem for the new internet.”
The project aims to include all emerging technologies, such as decentralized finance, fintech, and the IoT, all of which can be combined with one another and the blockchain to bring new, complex solutions that will improve our lives and hopefully, improve the financial world.
Elrond has developed a smart contracts execution platform, which is capable of processing 15,000 TPS, according to the project’s own claims. It also boasts six-second latency, and each transaction is extremely cheap, only costing $0.001. As such, Elrond might be a major contender for the position of the future global currency — a position that Bitcoin was meant to occupy, but could never achieve due to its own slow, limited technology.
To learn more visit our Investing in Elrond guide.
2. Axie Infinity
Next, we have Axie Infinity. Axie is a pretty well-known metaverse project, despite its young age. In fact, it is one of the largest metaverses and the largest metaverse game. It was inspired by popular games such as Tamagotchi and Pokemon, and it works in a similar way. Essentially, users can access its vast world to collect, breed, raise, battle, and trade monsters/creatures known as Axies.
Axis can come in a variety of forms, and with users having over 500 body parts available, they can vary even more, as they gain the ability to create some rather unique creatures. Each part belonging to a different class comes with a different rarity scale, so some will be more expensive than others, and creatures made up of the rarest parts can be sold at a higher price.
This is possible because each Axi comes in the form of an NFT, meaning that users can buy them or sell them on 3rd party markets. Furthermore, they can also breed their monsters to create new ones, which they can also sell in order to make a profit. But, Axies’ main use is for battle, and by winning battles, users can also win the project’s native AXS token, which can be used for buying new monsters and strengthening their team, or simply withdrawn, converted into cash, and spent in the real world. This so-called play-to-earn (P2E) model is one of the biggest features of projects such as Axie Infinity, and since the concept behind the game is as popular as it is, we expect to see this game continue to grow in months and years to come.
To learn more visit our Investing in Axie Infinity guide.
In the third spot, we have Flow. This is a decentralized, developer-friendly blockchain project that was designed in a way that makes it extremely fast. The reason behind this need for speed is the fact that Flow aims to be the project where the next-gen games, dApps, and digital assets will emerge, and it wishes to be able to power them and have them run without encountering technical difficulties along the way.
Flow is also the only layer-one blockchain that was created by a team that managed to deliver excellent products for years, including the likes of Dapper Wallet, NBA Top Shot, and maybe the best example of all, the first-ever crypto game — CryptoKitties.
Flow used the solutions and blockchain products invented so far to learn. It identified their shortcomings, and it noticed all the things that they did right. Now, it wishes to make an improved version of those solutions, where the things that were done right will remain, and the shortcomings would be removed and fixed in its version. It now provides things such as a multi-role architecture, resource-oriented programming, better consumer onboarding, advanced developer ergonomics, and alike. All in all, it aims to be the chain of the future, and we believe that this makes it worth keeping an eye on.
To learn more visit our Investing in Flow guide.
4. Clover Finance
Moving forward, we have Clover finance as our fourth top pick. Clover is a project that acts as a blockchain operating system. Simply put, it offers an easy-to-use blockchain infrastructure and a framework compatible with Ethereum Virtual Machine (EVM), making it a go-to place for Substrate-based applications.
With interoperability being one of the biggest goals of blockchain technology right now, Clover aims to try and bridge the compatibility gap between different chains, which would increase the level of interoperability and make it a little easier to finally reach the crypto world’s dream, which it Web 3.0.
The thing that makes this particular project unique is the fact that it was designed to offer more than a single service to users. It is an actual blockchain operating system, with its own storage layer, its smart contract layer, eApp layer, and a DeFi protocol layer. In other words, it truly includes everything it needs to achieve its ambition, which is why we believe that this project has a clear vision of what it wants to do and how to do it.
To learn more visit our Investing in Clover Finance guide.
5. Star Atlas
Moving to the fifth spot on our list, we have Star Atlas. This is another blockchain gaming project, and in this case, it is a truly massive multiplayer online game that, just like Axie, takes place in a blockchain-based metaverse. Since the world was built on Unreal Engine 5, it allows the game to offer real-time events and cinema quality.
Star Atlas is a game set in a futuristic Sci-Fi world, in the year 2620. It has three major factions that are competing for resources and control of the land. One is humankind, the other is a consortium of various alien races, and the final one includes sentient androids. The game combines a number of different genres, and it requires players to strategize, develop tactical plans on how to interact with other players, as well as with other factions.
Meanwhile, the main goal is to travel around the stars and planets, explore and find new resources, and beat others to them. Along the way, players can also mine said resources and derive revenue streams from doing it, which also adds a role-playing element to the game. The game is complex and interesting, which is what attracted a lot of players already, with even more likely to come once the adoption picks up and more people learn of what Star Atlas has to offer.
To learn more visit our How to Buy Star Atlas guide.
In the sixth spot, we have Only1, which is the first NFT-powered social media website built on Solana’s blockchain. Obviously, social media has transformed the internet when it started emerging nearly two decades ago. As such, it is unlikely that it will ever go away. But, the problem with it is that it is heavily centralized, and users will start seeking its decentralized version, sooner or later.
This is why platforms such as Only1 are expected to blow up in the future. This particular platform, based on the most scalable blockchain to date, allows social media users to feel more connected with their favorite creators on the platform. Typically, on traditional platforms, creators need to go through various middlemen to create and sell their merch, pay for ads and shoutouts, and enter partnerships in order to be promoted. Only1 eliminates all that with two new mechanics.
The first one is Creator Genesis NFT which allows each onboarding creator to mint a Genesis NFT which they can use to gain access to various perks. They can also stake the platform’s native token LIKE. The second one is Content NFT farming, which allows creators to post exclusive content in the form of NFT, which is then sold on the platform’s own marketplace. The users can buy, view, and own this content, and be the only ones with access to it.
Finally, the last on the list is Audius, which is a decentralized music streaming protocol that emerged on the POA network, but then migrated to Solana. The project was launched in order to address the issues of the music industry, which has been plagued by the same problems for decades.
Some of the issues that are trouble it include things like the lack of transparency when it comes to the ownership of music rights ownership, as well as the overwhelming prices that intermediaries charge for releasing the artists’ creation to the public. Audius aims to eliminate as many intermediaries as possible and allow the creators to upload their work at extremely cheap prices, or even completely for free. As a result, it will allow artists and audiences to establish a more direct connection and develop a lasting relationship.
Plus, it ensures that content creators will receive rewards for their work, which may also come in weekly trending lists. In the future, however, the project will integrate stablecoins for artists to offer paid content and receive direct payments for it, as well.
To learn more visit our Investing in Audius guide.
The crypto industry consists of over 18,160 coins as of mid-March 2022, and while some of the big projects are quite well known as excellent investments, there are also many that are also great opportunities that have not been uncovered yet or project that have not reached their potential. It is your job as an investor to identify these projects early on and keep an eye on their development as you wait for the right opportunity to invest and ensure gains.