Envelop Insights from the Token2049

TOKEN2049

General impression from the Token2049

Token2049 this year did not yield to last year’s event, gathering more than 10 thousand visitors around the main event and more than 400 side events. Also during the crypto week, Singapore ETH Summit was held — where the main ideas on scaling and optimization of the network were presented directly by Vitalik Buterin. In addition, the importance of zero-knowledge proofs (ZKPs) for the ecosystem in terms of anonymity, speed of transactions and their value was presented in detail, the most prominent speaker was Alex Gluchowski from zkSync.

Token2049 trends from an Envelop perspective

1. The index solution from DAO Envelop was met with great interest. Asset management companies and banks need such a product, as it is an extremely convenient and understandable non-custodial method of entering the crypto-industry for web2 clients, who have been used to investing in S&P500 and similar indices for years. More importantly, the index from Envelope is programmable, allowing for customization according to the norms that companies must follow.
2. Real world assets (RWA) tokenization has already been hotly debated for many years in the industry, and every bear cycle it becomes relevant, especially in real estate. There are now a certain number of implemented cases, including those involving the Singapore government. Real estate and securities are not the only object of tokenization. Dual Mint decided to focus on tokenization of luxury alcohol and jewelry. It was very interesting to talk to Bill Lee, the co-founder of the project. I was able to meet several companies that are cooperating with the Singapore government in this area.
3. P2P and OTC — always a relevant classic especially in the current environment of segmentation and dual standards by country affiliation. The market is growing, evolving and becoming more service oriented. On my return I found out about the 150M USD scam from Bitmama. This is a painful confirmation that this market needs qualitatively new tools to work in the trustless environment we have been in since the first Bitcoin blockchain. Even Brian Armstrong CEO of Coinbase sees the need for truly decentralized crypto-fiat exchange solutions. The Envelop https://bridgeless.io/ solution is designed to maximize trustworthiness. Bridgeless cross-chain had a lot of positive feedback from market participants. No one needs to explain the “why” here anymore. The problem of bridge hacks regularly appears in news feeds, for example, this summer’s record-breaker Multichain and the 130M hack. Everyone is only interested in “how”. The answer is simple — NFT2.0+ZKP.
4. Ethereum is the King. Top CEXs are launching their L2 ETH scaling solutions, shifting the focus away from their own L1 solutions. Follow the money remains the unchanged principle. This once again confirms that the fundamentals of network development proposed by Vitalik are correct.
5. NFT ticketing services are no longer a novelty, but the norm. But tickets alone are not enough. We need dynamic solutions that offer interaction with sponsor tokens and complete event organization, the possibility of pre and post-production communication with the audience, and new methods of advertising. The solution from Envelop https://getpass.is/ looks much more interesting here.
6. Animoca Brands looks to be the most alive of the GameFi ecosystem. This market segment has fallen the hardest this cycle. The Mocaverse has a chance to be the flagship of the next market cycle. Animoca management is focusing on developing this product.
7. The Chiliz fan-tokens and their SportFi are doing well in the bear market and onboarding products into their ecosystem, while working in parallel with new leagues and fan communities. I’d like to emphasize how they added interactivity to their panel session in collaboration with Alessandro Del Piero.
8. Envelop L3 wallet with a secure asset storage feature is very much liked by all market participants without exception. Of course, there are custodian services like Fireblcoks, claiming that “it’s impossible to hack us, because the private keys are split and securely stored”. But the market is tired of trust. Users want non-custodian solutions.
9. ZKP is a clear narrative not only for Ethereum scaling, but the industry as a whole. In private conversations, the opinion is discussed that ZKP is the new hot topic for VCs, AI is not so attractive anymore.
10. Arthur Hayes on Token2049 said that it’s worth looking at decentralized storages if we really believe in the intelligence of AI. Decentralization and disconnectability, important features to keep the industry moving forward.

By putting your data in a centralized company, that company can shut down your service due to government orders, change prices at any time because it’s their data center, and cancel contracts at any time.

11. The drivers of the bull market are inflation in the United States and a huge amount of government debt that no one is in a hurry to buy back.

12. The BTC ETF is definitely rated as a positive, but without illusions.

13. After bitcoin and ethereum, it will be time for altcoins to be recognized by institutions.

The Envelop narrative is showing its relevance and starting to work. The time of programmable assets has definitely arrived.

Events like Token2049 allow Envelop to feel the mood and state of the market, evaluate new trends and ideas. Yes, projects have less money, but VCs are starting to gain activity and risk appetite is gradually waking up. And in this situation we have to provide the market with the most convenient decentralized and programmable tools to implement dApps and use cases.

P.S. I found out by experience that Punks NOT dead)))))) I met 10 amazing Punks Owners, thanks to some provocative merch from Envelop DAO.