People began to widely discuss the tokenization of everything in 2021, thanks in part to nonfungible tokens (NFTs). This shift has given rise to three theses for the upcoming bull market, based on the notion that everything is data. Money, engagement with a brand, credentials and tickets are all data that can be stored in the form of fungible tokens, NFTs, and timestamps on the blockchain. Protocols such as Ordinals and Taproot Assets allow for the insertion and creation of any file type into the Bitcoin blockchain. This, combined with the implementation of EIP-4844 will reduce the cost of layer-2 blockchains, making them more invisible and robust to attract the mainstream audience. Abstraction solutions are also needed to simplify the user experience and help traditional companies join Web3. All of these advancements will make the layers more invisible, less complex and propel Web3 into its penultimate phase.
“3 Theses to Propel Ethereum and Bitcoin in Upcoming Bull Market”