On 6 October 2023, Alex Svanevik, the CEO of blockchain analytics startup Nansen, took to social media platform X to share his insights on the future of the cryptocurrency space. In a detailed thread, Svanevik highlighted six major themes that he believes will play a pivotal role in shaping the next cycle of the crypto industry.

Alex Svanevik boasts an impressive career spanning over a decade in data science, analytics, and the crypto industry. Currently serving as the CEO of Nansen, a Singapore-based company that aids crypto investors by enriching blockchain data, he has held this role since October 2019. Prior to Nansen, Svanevik was a Founder and Data Scientist at D5 – The Data Science DAO, a decentralized organization aimed at accelerating data science initiatives.

He also served as Chief Data Scientist at CoinFi, where he led the development of a comprehensive database of cryptocurrencies and ICOs. Earlier in his career, he was a Data Science Manager at Schibsted Media Group, focusing on data-informed decision-making. Svanevik has also been a Board Member at WalletConnect since February 2022. His diverse experience makes him a credible voice in the crypto and data science sectors.

Fintech Integration with Crypto

Svanevik pointed out that traditional fintech platforms are increasingly incorporating crypto functionalities into their systems. For instance, PayPal has introduced its own stablecoin, while Revolut offers Ethereum staking options. He also mentioned that emerging crypto startups, such as BasedApp, are already resembling fintech products in their user experience. Svanevik predicts that, in the long run, crypto technologies will become the underlying infrastructure for fintech services.

The Rise of Crypto in Gambling and Betting

According to Svanevik, the gambling and betting sectors are ripe for disruption by decentralized finance (DeFi). He noted that platforms can potentially generate revenue from the yields on capital, rather than taking a spread from bets. Svanevik also emphasized the role of Layer 2 solutions and account abstraction in making these applications more user-friendly. He cited examples like LooksRare’s Yolo and other platforms like Rollbit and PoolTogether.

Real-World Assets and Stablecoins

Svanevik discussed the growing importance of real-world assets, specifically Treasury bills (T-bills), in the crypto ecosystem. He believes that tokenized T-bills could significantly impact the supply of stablecoins. Companies like Superstate, Mountain Protocol, and OpenEden are expected to gain prominence in 2024. Svanevik also speculated that major stablecoin providers like Circle and Tether might venture into this space.

The Emergence of Web3 Gaming

Web3 gaming is another area Svanevik is bullish on. He mentioned that several games have been in development for over two years and are expected to launch in the next six months. While he anticipates that many will not succeed, a few could become immensely popular. Svanevik expressed his support for projects like SIPHER Odyssey, MixMob, and Axie Infinity.

Social Finance (SocialFi)

Svanevik touched on the concept of SocialFi, stating that blockchain data already shows platforms like friend.tech gaining real traction. He believes that Layer 2 solutions and account abstraction will make these platforms more accessible to users. Svanevik expects SocialFi to evolve through multiple iterations and forks but ultimately sees it as a lasting trend.

Physical NFTs Gaining Ground

Lastly, Svanevik talked about the potential of physical non-fungible tokens (NFTs). He mentioned that innovators like Luca Netz have paved the way for mainstream adoption, and companies like IYK are helping others to experiment in this area.