The cryptocurrency market has experienced massive growth in recent years despite volatility. With an estimated $1.73 trillion total crypto market capitalization and over 300 million users worldwide, cryptocurrencies like Bitcoin and Ethereum have gained mainstream acceptance. As we look ahead to 2024, the crypto landscape should continue expanding as regulatory clarity improves and crypto goes more mainstream. Developers are flooding the market with innovative blockchain projects for smart contracts, decentralized finance, non-fungible tokens and more. Emerging cryptos promise to impact the market by focusing on speed, bridging on-chain/off-chain data, or creating new participatory token ecosystems. Overall, 2024 should see exciting developments across multiple facets of the crypto space.
Chainlink has emerged as the leading decentralized oracle network, providing real-world data to blockchains. Using a network of node operators, Chainlink securely connects smart contracts to off-chain data sources, APIs, payment networks, etc.
The company’s primary focus is on the Cross-Chain Interoperability Protocol (CCIP) to meet the rising demand as capital markets transition onto blockchain. This shift, fueled by tokenized real-world assets (RWAs), is set to significantly enhance onchain economies. Chainlink plays a crucial role by serving as core infrastructure, facilitating the settlement of real-world, tokenized assets on any blockchain and ensuring synchronized onchain and offchain legacy infrastructure. Tokenized assets not only bring trillions into the onchain format but also bridge traditional capital markets and DeFi, with Chainlink providing essential data and interoperability. In June 2023, Chainlink and Swift shared news about testing the connection of many financial institutions to blockchain networks. Swift uses CCIP to link up with various blockchains.
Having already integrated with heavyweights like Google, AWS, Visa, SWIFT, Chainlink’s dominance should expand in 2024 as real use cases explode around decentralized finance, supply chains, insurance, gaming and more.
Aurora is a blockchain platform that combines Ethereum compatibility and NEAR Protocol’s performance for a scalable, eco-friendly Web3 environment. Aurora eases blockchain adoption for businesses through Aurora Cloud, an an all-in-one solution for setting up and managing customized blockchains. Its uniqueness lies in the ability to provide the perfect mix of personalization and interconnectivity, key necessities for modern entrerprises. Additionally, Aurora Cloud also caters to users by offering businessees the opportunity to remove transaction fees from their experience and leverage a Aurora Pass, a Web3 wallet for simple onboarding. Aurora already drives transformation in gaming, energy, real estate tokenization and more by allowing limitless customization. It facilitates permanent change in how industries utilize blockchain innovation for their specific needs.
Billed the “Visa of crypto,” Solana is an extremely fast proof-of-stake blockchain touting 50,000 transactions per second – over 700 times faster than Ethereum. Costs are a fraction of a penny, making SOL’s speed and scalability attractive for DeFi apps, NFT projects, Web3 ventures and enterprises. Major partnerships continue, like integration of Solana coding/tools by Microsoft, Apple.
As the race towards Web3 accelerates, Ethereum congestion and high gas fees risk hampering adoption. Solana offers a viable scalability solution, poised to capture liquidity and developers from ETH as its ecosystem balloons. Despite past stability concerns, Solana Labs backs aggressive expansion plans, understanding the need to offer next-gen capabilities. With abundant headroom for network effects, integrations and real-use to intensify through 2024, Solana seems geared for mass adoption as its $15 billion market cap expands exponentially.
Kauri Finance is a licensed financial platform for individuals and businesses. Kauri Finance offers an integrated solution, combining a secure wallet, debit card, and bank account to meet all user needs. A key feature is that Kauri Finance cards are available even to citizens of non-EU countries. For enterprises, Kauri Finance provides the ability to define employee roles, set spending limits and authorise transactions using Web3 technology. This allows companies to make secure payments, with all responsible employees signing off in a chain, and owners maintaining control.
By making the decentralised wallet the core element of the system, with the password stored only by the user and on the blockchain, it ensures security and prioritises user interests. Mandatory verification during account opening addresses regulatory concerns, distinguishing it from many decentralised exchange (DEX) projects unwilling to implement verification or centralised exchanges (CEX), that store user passwords and funds.
Kauri Finance unified platform aims to simplify the adoption of cryptocurrency in everyday life, aligning with the concept of a Web3 bank, it is especially relevant in the year 2024.
XDC Network is an open-source, carbon-neutral, enterprise-grade, EVM-compatible Layer 1 blockchain that has been operationally successful since 2019. The network obtains consensus via XDPoS technique that allows for 2-second transaction times, near-zero gas expenses ($0.0001), over 2000 TPS, and interoperability with ISO 20022 financial messaging standards. The momentum gained by the XDC Network in 2023 sets the stage for robust growth in 2024. International exposure and expansion into new geographic regions are pivotal for the network’s global establishment.
Noteworthy tech upgrades, such as the introduction of XDC-2.0 on the Apothem testnet, reinforce the network’s commitment to military-grade security for enterprise solutions. The unveiling of a turn-key subnet solution designed for institutional participants indicates a strategic move that is poised to make a significant impact on the market. RWA such as Comtech Gold(CGO), Eurs, U.S. Treasury Token (USTY), are playing an increasing role in traditional finance’s adoption of XDC blockchain technology.
SBI’s support signals the network’s growing influence in Japan, while collaborations with Singapore’s IMDA showcase a dedication to regulatory compliance and financial inclusivity. The International Chamber of Commerce and World Trade Organization recognize the trade finance standard platform TradeFinex. It emerges as a focal point for pilot transactions, integrating XDC Network’s liquidity via Fathom dollar (FXD). With key milestones in trade finance, regulation, and ecosystem growth, the XDC Network is primed for substantial development in 2024. Embracing a vibrant community-driven approach, XDC gains a distinct advantage on its journey to becoming a top blockchain network.
The anticipated GameFi project Girand features stunning AAA graphics recreating Atlantis in an ancient fantasy world. Inspired by Lovecraft and Greek history, meticulous detail brings the 3D metaverse to life. To simplify entry, no crypto wallet is needed to start; just log in via Telegram. Girand bridges Web2 and Web3. The impressive team includes veterans from Mail.ru, 1C and Blizzard.
Based in Dubai with a global talent pool, Girand selected the best experts. Creator Sergey Fominyh has headed a digital agency for over 10 years and is an experienced investor and ex-investment club co-owner. Girand crafted a mesmerising world poised to engage both crypto native and mainstream gamers through its quality and accessibility when its alpha launches in 2024.
Immutable focuses on building an NFT platform and ecosystems tailored to blockchain gaming. One unified marketplace touts no gas fees, instant trade confirmation, and carbon-neutral NFT minting. Immutable X has also pioneered StarkEx zk-rollup technology on Ethereum allowing 9,000 TPS and basically zero gas costs for developers and gamers.
With blockchain gaming seen as the gateway for mainstream NFT adoption, Immutable’s comprehensive infrastructure play holds advantages. Huge gaming ecosystems can now launch with minimal overhead costs or environmental impacts. Key partnerships with Gods Unchained, Guild of Guardians, Illuvium plus investments from gaming whales like Tencent – signal strong 2024 growth potential. As the infrastructure improves, Immutable could power the next generation of NFT experiences.
Illuvium is an open-world fantasy battle game built on Ethereum, fusing NFT characters and auto-battler mechanics with a beautifully rendered 3D landscape. Collectible NFTs are at its core – players can buy monsters, fight AI to gain rewards and battle other players in fully decentralised matches.
As an ambitious NFT gaming pioneer entering 2024, Illuvium checks important boxes like great visuals, proven team and an integration of blockchain elements that enhances gameplay. With buzz around crypto gaming intensifying, Illuvium seems well-positioned to capture attention given its production values, exploration gameplay and Ethereum composability allowing in-game NFT utilisation elsewhere. If execution matches its aspirational scope as a AAA blockchain title, Illuvium could drive mass adoption at the intersection of gaming and decentralised digital asset ownership.
Launched in July 2021, the Pudgy Penguins is a collection of 8,888 distinctive and adorable penguins, each with proof of ownership securely stored on the Ethereum blockchain. It is a Web3-born brand that champions creativity, freedom, and community spirit. Beyond their uniqueness, the Pudgy Penguins brand extends its influence to content creation, merchandise, toys, and digital collectibles, offering enthusiasts a diverse and engaging experience.
In September 2023 Pudgy Penguins introduced its exclusive toy collection, named Forever Pudgy Toys, to hit the shelves of 2,000 Walmart stores across the United States.
With wider NFT adoption beckoning in 2024, Pudgy Penguins boasts headstart brand equity to expand into gaming, entertainment, and virtual worlds – providing a utility that boosts its valuation and secondary sales.
Grapes is a cross-media, family-friendly entertainment IP, seamlessly transcending the realms of Web3 with gaming, TV, products and licensing at its core. Grapes has a collection of 3,333 NFTs.
Designed and introduced by the innovative VIKER team, backed by the strategic investment of Animoca Brands. The Grapes has partnerships with gaming giants as Fortnite and Roblox.
The core foundation of the GRAPES Ecosystem is the $GRAPE token, serving as both the governance and utility token. This versatile token plays a pivotal role by granting holders immediate access to exclusive features such as games, PvP, events, merchandise, services, and beyond within the Grapes ecosystem.
The cryptocurrency and blockchain space shows enormous promise for continued innovation and adoption in 2024. As highlighted by the diverse mix of projects covered here – from oracles to gaming NFTs and more – developers are rapidly building out Web3 infrastructure and applications to usher in the next era of an open, decentralized internet. Key focus areas like cross-chain interoperability, compliance, speed and scalability aim to make blockchain technology more accessible and usable for both businesses and consumers. With regulatory clarity also improving in many jurisdictions, 2024 could witness exponential growth at the intersection of blockchain and mainstream finance, gaming, supply chains and beyond as these projects continue gaining traction.