The Next Big Opportunities in the Web3 Ecosystem
I have found the next big narrative of the coming bull run in the crypto market. The opportunities lie in the Picks and Shovels of the Web3 ecosystem, which are the tools that all projects need, like storage, oracles, and data organization and queries. I believe that these three projects have the most potential for the next bull run.
Project 1: The Graph
- The Graph is the leading project in the data organization and querying sector of Web3 infrastructure.
- It allows users to create their own Subgraph for specific projects, using the powerful query language Graph QL.
- The Graph has a burn mechanism in place to prevent excessive token supply dilution.
- It is currently ranked #45 by market value, with a value of over $1 billion.
- However, there is a possibility of an infinite token supply, which is a downside to its tokenomics.
Project 2: PARSIQ
- PARSIQ offers similar functionalities to The Graph but at a significantly lower token cost.
- It has basic API solutions like Covalent and advanced customized API solutions like The Graph.
- PARSIQ’s Data Lakes program provides custom API development for specific projects, without the associated expenses.
- Despite its lower value of $16.4 million, PARSIQ has the potential to grow and reflect its true value in the near future.
Project 3: Covalent
- Covalent specializes in organizing blockchain data and offers a unified API for multiple blockchains.
- While its APIs work well for simple transactions and token balances, they may be limiting for chains with unique tech.
- Covalent is currently ranked #352 by market cap, with a value of $66 million.
- However, its tokenomics have limitations, with a small percentage available for public sale and staking.
In conclusion, the Picks and Shovels of the Web3 ecosystem, such as The Graph, PARSIQ, and Covalent, offer great potential for the next bull run. However, their tokenomics and compatibility with different chains should be carefully considered before investing.
Hot Take
The Web3 infrastructure sector presents exciting opportunities for crypto investors, but it’s important to thoroughly evaluate projects’ tokenomics and compatibility with different chains. The Graph, PARSIQ, and Covalent show promise, but investors should be cautious and stay informed.
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