7 Projects In The Digital Asset Ecosystem With Long Term Potential
Theres over thousands of crypto projects out there nowadays. Some are great and innovative technologies, but theres a majority that exist without any underlying utility, so how can you tell which projects are really worth looking into?
The digital asset landscape has been exponentially growing over the past decade, countless projects have been created but only so many seem to have what it takes to survive. Based on previous experiences and general logic, we can gauge that the majority of the projects that survive have either; utility and use cases, innovative technology, a strong narrative, or a powerful community behind them. Without any of these it’ll be tough to stay alive in this radially developing asset class.
The reason Bitcoin has stood the test of time is due to a combination of all those reasons. Its utility is derived from being a store of value and a form of payment along with the innovation of being the first to utilize blockchain technology. The strong narrative of Bitcoin still sticks even to this day, as the strongest form of money created as it cannot be tampered with by any third parties, and the ever growing community of Bitcoin.
Since the genesis of Bitcoin, the crypto space has evolved into something else hardly recognizable from before. With sub sectors seemingly popping up left and right. From decentralized finance, to NFTs & gaming, to utility tokens and web 3 applications, all the way to the Metaverse. Its easy to imagine how one could get overwhelmed diving into this space.
So I’ll be discussing 7 projects within this ecosystem that I personally believe have all the prerequisites mentioned above, while keeping diversification of the wide array of sub sectors in mind.
I should also mention, I’m not a financial advisor and nothing I say should be used as financial advise. This is purely for educational and research purposes only, please invest responsibly through your own decisions after thorough research.
I’m also not sponsored by any of these projects, nor do I have any significant relations to them. While I do hold some of these as investments, I have done so out of my own research and conviction of future success.
First off we’ll be talking about Qredo!
The overall project of Qredo is specifically built around decentralized finance and security by changing how we manage and keep custody of our digital assets in a way that
Through the use of their consensus mechanism of, Multi Party Computation the Qredo platform is able to securely keep custody of user funds in a decentralized manner. Multi Party Computation is the process of multiple computers working together to solve a mathematical problem, but without exposing the private details and information of what each computer is holding.
The Qredo platform allows for the interoperability of cross chain solutions such as liquidity providing and atomic swaps, this is all done without the need for wrapping tokens or smart contracts. As Qredo’s solution to allow for the proof of ownership and interoperability on their platform through Qredo synthetic tokens which are pegged to the value of the underlying Layer 1 asset. These synthetic tokens are minted on the next block after there is a deposit of the underlying Layer 1 into the Qredo platform.
As Qredo works with the ethos of “The Network is The Vault” through declaring the proof of ownership through a decentralized public ledger rather than a centralized database where there is the potential for a single point of failure, along with the huge risk of storing the significant amount of private information in one server. A distributed ledger to the solution allows for the most transparent and immutable method of displaying information and ownership of assets.
The future potential of Qredo to play a large role within the security and custodian aspects of the crypto space is very prominent from regular retail investors to institutions managing thousands of clients funds. From a basic decentralized custodian to allow participants of this ecosystem to comfortably sleep at night knowing their private keys are never exposed, to traders and enterprises accessing large amounts of funds without needing to worry about security issues. Qredo is putting themselves in a solid spot to changing how we secure our funds.
Onto our second project, we’ve got Xin Fin Network!
Xin Fin is a hybrid blockchain made up of both a public and permissionless chain, along with a private and permissioned side thats created to suit the use of corporate needs while also still catering to the preferences of the general public.
This is created through leveraging the public decentralized chain Ethereum, along with the permissioned chain of IBM’s Quorum, allowing for a platform that brings out the best of both worlds within blockchain technology, as it can utilize the enterprise ready scalability, while also allowing the option of retail users to maintain their privacy.
As a Layer 1 blockchain, Xin Fin has built their blockchain to be scalable to the future adoption of their technology as they only use about 1/100th terawatts per hour, while being able to process over 2000 transactions per second. Some of the primary use cases of the Xin Fin blockchain are for; cross border remittances, as their permissioned ledger allows for other financial institutions to join in their ecosystem of corporate business. Insurance is also provided on the blockchain as the immutability and transparency of a public ledger allows for optimal integrity and proof. Along with record management and security of these records through storing them into the private and permissioned parts of their network.
As Xin Fin is working to be utilized by corporations and institutions, they have adhered to the ISO20022 standard along with many other familiar projects such as Algorand, Ripple, and Stellar. Essentially this standard is being utilized as the new financial standardized language for global business to be universally understood.
They have already begun working with some large corporations, as their $XDC token will be the main form of payment on the R3 Corda Blockchain which is being utilized by the likes of IBM, Intel, and HSBC. Additionally, the International Trade and Forfaiting Association has chosen Xin Fin as a collaboration partner in their Trade Finance Distribution initiative which has also collaborated with the International Chamber of Commerce and HSBC to build a solution to simplify global trade.
Xin Fin Network has the future potential to one of the main blockchains that are being used in the world of business and corporations, and as they’re a hybrid blockchain, still be able to cater some of their features towards retail users and developers. With Xin Fin already working with R3 Corda and the ITFA, its very possible in the future we’ll hear potential news headlines, about Xin Fin working as a solution to some of the largest global technological and economic issues within our modern system of global trade and finance.
Third on the list we’re gonna be talking about Metahero!
Just like the name suggests, Metahero is a project building within the metaverse. Specifically they’re allowing anything within our physical world to be scanned and transported into the metaverse.
The idea might sound a bit to futuristic and even crazy for some to wrap their heads around, I’m here to say the future is now. With the ability to scan quite literally anything that can be fit into their 4 meter diameter scanners. People can now scan themselves and be their own hero in their favorite video games, while big name manufacturers such as designer luxury brands can extend their business products into the metaverse, while some meta enthusiasts may just be wishing for the most realistic virtual world experience.
On top of just scanning and using items in the metaverse, the Metahero platform will also have a 3D NFT marketplace where any publicly scanned item has the option to be publicly traded as an NFT and monetized through sales and royalties. This brings a completely unique approach to a marketplace, as users can now sell the digital 3D NFT version of themselves, their favorite pair of shoes, or maybe even their Lambo in the metaverse without losing physical ownership.
This innovation in technology impacts a variety of industries. From creating popular real life items to be utilized in gaming, to popular designer brands providing some high end fashion in the metaverse, all the way to even musicians and artists turning their creative content into a 3D music video or an immersive and unimaginable 3D art gallery. The technology that Metahero has created will be a game changer for not only the overall experience and enjoyment in retail users, but also disrupt how we see and value certain products in both our real and virtual world.
With the wide variety of potential sectors Metahero could leak into, along with their creative idea of essentially being the gateway into the metaverse, theres a strong probability we could potentially see Metahero begin to work with corporations who are looking to get a head start at building out and extending their business model and products into this new metaverse industry, as there will be an explosive growth of discoveries and creations within this industry in the coming years.
The boundaries for utilizing Metahero are quite endless, as far as the mind can stretch. From playing as yourself within your favourite games, to putting up the 3D scanned model of your car for auction on the marketplace, to even artistic entrepreneurs and celebrities creating content and items that can be utilized within the ecosystem. As museums and galleries begin to work with Metahero its possible we see historic art works such as the Mona Lisa being scanned into the metaverse, and thanks to the future tokenization of assets, art could become a more diversified marketplace as everyone can own a fractional share of the 3D Mona Lisa. Museums could entirely restructure how their pieces of history are displayed with the help of metascanners, just imagine a first person experience of the pre historic ages or World War II.
For our fourth project we’ll be going over Unizen!
Unizen is a smart hybrid exchange aggregator with Binance shared liquidity, aggregating trades on all decentralized exchanges across all blockchains and centralized exchanges within their ecosystem.
Think of Unizens ecosystem as a network of exchanges, the more exchanges are joined into their network the stronger the overall ecosystem becomes. The ability to aggregate exchanges while also sharing liquidity from the largest exchange in the world Binance, allows users to trade and interact on their platform with maximal liquidity while maintaining minimal slippage for a more predictable trading experience.
Think of the Unizen exchange like a city block and all the other exchanges within their ecosystem are buildings inside the city block. Users are able to access any exchange of their preferences within the Unizen platform without the inconveniences of swapping across other chains, or waiting for a centralized KYC to be approved. Additionally, as Unizen is hoping to cater their project towards institutional clients and startups building in this space, they’ve ensured their exchange is compliant and fully audited to ensure there won’t be regulatory issues, as they have a formidable group of auditors and legal advisors.
Aside from their exchange aggregator, they’ve built an incubation program where they will be working with many mid to late stage projects within this digital asset space to provide them the proper legal and technical assistance along with the appropriate tools, connections and environment for their projects to succeed. As they’ve already begun incubating and working with some earlier stage development projects, its likely that this will be a large attraction of Unizen in the eyes of many wishing entrepreneurs looking for the proper assistance to build out their vision under the incubation and support provided by the Unizen team.
As an exchange platform, Unizen has some of the most unique loyalty rewards incentives I’ve seen through staking their exchange token, and I personally believe this has the potential to be one of the best staking crypto projects. There will be a multitude of crypto assets being distributed as rewards for staking their exchange token on the platform, tokens from incubated projects made as a form of payment to the team will have a varying amount distributed back to the community, along with a variable stablecoin yield program which works in a tiered manner through staking additional tokens, and the team will also be running nodes and gateways from multiple other projects in which a varying amount of the node rewards will be rewarded to those staking.
Unizen has set itself up to be the face of CeDeFi and one of the frontrunners for institutions and governments to dive into the crypto space without having to jump between countless apps and chains. They’ve built out a very original and unique community based incentive system which heavily rewards users for their loyalty for participating and interacting within the Unizen ecosystem through a variety of crypto assets. They’re also far more than just an exchange with their Zen X Incubator having the future potential to help develop and accelerate the growth of hundreds of potential entrepreneurs and developers who wish to bring their ideas into this space.
Onto the fifth project, we’ve got Ultra!
I like to think of Ultra as what would happen if we were to combine popular gaming engine Steam with the leading video game streaming platform Twitch, and then add in a little bit of creativity and some other features giving back more freedom and incentives to gamers. Then we’ve got Ultra!
If Unizen is working to be the all in one exchange, then Ultra is working to be the all in one hub for gamers. From their platform hosting a variety of games, to the ability to watch the most popular streamers, to gaming tournaments with lucrative rewards, to even creating and building out games. The mission at Ultra is to create a global network for gamers around the world to build connections and interact with each other through the variety of features on their platform.
On top of just interacting and playing with other gamers with the variety of games on their platform. Ultra is working to redistribute the revenue from the lucrative gaming industry, through rewarding network participants through play to earn games, along with incentivizing participation and support such as advertisements and referrals. Additionally any user will be able to create games and in game items with the tools provided by the team at Ultra, users can then sell these games or items in the form of NFTs. Allowing for a more democratized game distribution, as I’m sure we can all agree that the current gaming industry today is very heavily monopolized.
The gaming industry is one of the most rapidly growing industries in the world, not far behind the global leader of digital assets. So when you combine the two together you get Ultra. A global decentralized social network for gamers. Just like how Facebook(or Meta) was initially seen as the social network for college students, Ultra is working to be the gamers social network, as gamers are able to utilize and enjoy in the platform with all the freedoms and boundaries any gaming connoisseur could wish for, with the options of participating in games and tournaments, to streamers further connecting with their fanbases, or to bring video game ideas to life and even monetize them!
With the trajectory of growth the gaming industry over the past years along with the digital asset industry is going, Ultra almost sounds like its geared to succeed with its vision. Theres the potential for what Ultra is doing to be as large of a breakthrough in the gaming world as the initial ability for online multiplayer games to connect with each other. An innovative breakthrough in the gaming industry that benefits gamers not just through a more efficient all in one platform, but also to allow players to be rewarded for their skills and loyalty to their respective gaming communities or allowing the freedom of anyone to create and monetize their creative imagination of a video game.
Almost there. For our sixth project, we’ve got Quant!
Quants mission is to be the network of all networks through their solution of universal interoperability through all distributed ledgers, networks and systems to communicate and work synchronously in their operating system Overledger.
Quant has built the first ever interoperable blockchain operating system, in which any system, network and API can connect through a Quant gateway to solve the interoperability issue. Additionally this feature of interoperability allows for the ability to create customizable blockchains and applications that can be accessed through multiple blockchains or other legacy systems, public or private.
An example could be a retail developer wishing to build an application on top of Ethereum, but maybe they want the security and decentralization of Bitcoin, and maybe they want the scalability ability of Hedera Hashgraph. Overledger is able to take the features from all these separate networks and create a single application which has the features of the mentioned blockchains.
The ability for universal interoperability is thanks to the ISO/TC307 standard founded by the Quant founder and CEO. This standard is gradually becoming the global standard for blockchain and distributed ledger communications and has been seeing support and adoption from over 50 countries. Being standardized by the British Standards Institute, its reasonable to assume that this will likely remain the global standard as some of their connections consist of some tech giants such as Microsoft, IBM, and HSBC.
Universal interoperability will absolutely be a required solution for the future mass adoption of digital assets and blockchain technology. While there are many projects within this space working on blockchain to blockchain interoperability, it should be noted Quant has solved any to any interoperability as they’re able to connect any legacy system together or to the novel blockchain technology. Some unreasonable thoughts of blockchain technology are that there will be one chain to rule them all, and that once blockchain is globally adopted people will drop everything and start from scratch with blockchain.
There will be countless preferences with blockchain consensus and features. For example a corporation working out a potential merger which is under NDA and discussed between only the core employees would likely value a centralized and heavily secure blockchain where scalability wouldn’t be the largest priority. Whereas a blockchain built for public use as a social network for simple messaging chats would likely heavily prioritize scalability but not worry too much for security.
Every native chain has their own pros and cons, and rather than trying to add to the competition, Quant has decided to work as the catalyst that can allow all these blockchains to work together alongside our legacy systems, as its unrealistic to believe we’ll just abandon all the years of technology we’ve built to adopt blockchain technology. Overledger allows all these legacy systems to be connected into blockchain technology to add as an extension of our current systems.
The idea of Quant being in the crypto space is quite interesting as this is arguably one of the more unique projects thats working to solve an issue on the technological and infrastructure side of this new asset class rather than most projects building for solutions within either financial or network adoption. While the idea of universal interoperability isn’t an immediate need with where blockchain technology today, to allow for big businesses and government agencies such as, large institutions and medical research databases to securely onboard their information within legacy systems in a secure manner to be utilized in other systems within Overledger.
Finally number seven and, last but definitely not least we’ve got AllianceBlock!
AllianceBlocks mission is to build out the first decentralized yet globally compliant financial market, acting as the one stop shop for all asset classes including future tokenized assets and digitized securities and even monetized data, all made available through their protocol.
The AllianceBlock protocol is blockchain agnostic with a plethora of innovative financial products such as cross chain liquidity and swaps, tokenized data which can be traded or utilized as analysis and research material, the ability to digitize equity onto a blockchain and raise capital from investors around the world.
With the ability to tokenize assets and securities, assets that previously couldn’t of ever been traded can now be distributed and traded in a tokenized manner where everyone can participate. For example, the ownership of a city block in Manhattan can now be digitized and traded in a fractional manner where millions of people around the world can all own a small piece of the city block and be rewarded in revenue generated as their respective portion of the real estate property.
AllianceBlock is also working to be the bridge for financial institutions and wealth managers to access the features of decentralized finance and this broad digital asset ecosystem. They’ve literally coded compliance into their protocol through their smart contracts verifying the regulatory eligibility of participants in regards to their jurisdiction. As this is coded within their smart contracts, AllianceBlock is able to allow their protocol to adapt to potential future changes in regulations.
The future of AllianceBlock will be interesting to watch as they’re the only fully compliant protocol working to build out something so robust and ambitious, I’m sure we can all agree building a global and decentralized marketplace while complying to the long list of regulations around the world is no easy task. With the world of finance beginning to take this asset class more seriously with less speculation, theres the possibility for AllianceBlock to onboard countless institutions into their ecosystem to be able to safely utilize the products and services of decentralized finance while automatically adhering to their respective jurisdictions regulations. A global financial market thats accessible by anyone on Earth just makes sense as we are transitioning to a borderless and globalized economy.
Well there you guys have it, those are seven projects in this space that I believe have the potential to build out their mission and build a strong network and ecosystem of not only strong partnerships, but a strong supporting community that understands the value and innovation in the utility of these digital assets within their respective networks.
While there can never be a guaranteed recipe for success, I personally think these guys have gotten to as close as that as possible. They’ve either built out their products through recognizing the need for solution in their respective sub sectors, or have worked to build an entirely innovative idea from the foundation. As all these projects have the potential to grow in terms of a network effect all in their own ways, it’ll be interesting to watch as the development and growth of this space continues to rapidly accelerate.
*None of the information listed is financial or investment advice and should only be taken as entertainment or educational as I’m not a financial advisor*
Hey, thanks for taking the time to read my work. I’m your average 21 year old, currently in school for Economics and Finance. Some of my hobbies consist of sports, working out and staring at price charts.
I initially began interested in the crypto space after frustrations with legacy markets. From the second I read about the Ethereum ecosystem, I fell in love. An entire ecosystem built on one platform that anybody can access? Unheard of, until now.
With how fast this space is developing, I try and find projects within this industry that show promise and potential to disrupt our modern world. All this fundamental analysis not only helps me better understand these projects better, but hopefully gives you guys some newfound information!