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Forkast’s biggest blockchain trends for 2023: blockchain games, NFTs, DAOs and a bet that Web3 will end the cryptocurrency winter

  • Traditional companies adopting Web3 could end the cryptocurrency winter, while gaming will drive mass cryptocurrency adoption, industry experts say
  • Decentralised autonomous organisations (DAOs) could reach their full potential while non-fungible tokens (NFTs) will gain more ground, they say

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2022 was a challenging year for blockchain and Web 3.0 as it was plagued by black swan events like the Terra-LUNA crash, the collapse of cryptocurrency exchange FTX and the subsequent fall from grace of its founder Sam-Bankman Fried, who was among the most lauded industry figures just a few months ago.
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Forkast spoke to cryptocurrency industry experts to reflect on the potential of blockchain technology and discuss blockchain trends for 2023.

  • Traditional companies adopting Web3 could end cryptocurrency winter

“In 2022, I saw many Web2 companies accept cryptocurrency payments and add blockchain innovations like NFTs (non-fungible tokens) to their services … This is a trend that will continue to grow as more people become aware of blockchain technology,” said Alex Onufriychuk, head of growth at blockchain-based music crowdfunding platform Corite.

“The key to the next ‘cryptocurrency summer’ will be mass adoption of Web3 elements by traditional Web2 companies. As this transition accelerates, more attention will be spent on designing interfaces and experiences that are more intuitive for the average user,” Onufriychuk said.

FTX founder Sam Bankman-Fried, being escorted from the Magistrate Court in Nassau of the Bahamas on December 21, after agreeing to be extradited to the US. Photo: AP
FTX founder Sam Bankman-Fried, being escorted from the Magistrate Court in Nassau of the Bahamas on December 21, after agreeing to be extradited to the US. Photo: AP
“Adoption starts with three main components: simplicity, security and applicability. We see a trend in this direction, as well as some ‘best practice’ inheritance from Web2 services. The ability to combine what people used to do with something new is what will define future blockchain trends,” said Vlad Shavlidze, the founder and CEO of xDAO, a multichain decentralised autonomous organisation (DAO) builder.
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