Do you have the bear market blues?
Seeing red getting you down?
BetProtocol’s here to give you a dose of uplifting news in the crypto-markets to keep your spirits up.
The truth is, there has never been a better time to #BUIDL on blockchain than now. There are so many innovative projects and use cases out there that are making the future of the global, decentralized economy.
Long story short, don’t fixate on prices.
We all know that market cycles happen, and in crypto, they have happened many times before this current bear. We’ve seen this song and dance before. It goes a little like this:
Bull, Bust, Bear, BUIDL….Bull, Bust, Bear, BUIDL…
Although we are not in the business of making predictions, and this is in no way financial advice or us “calling the bottom”, there are many reasons to believe that the BUIDL phase is going on strong:
Infura serves over 10 Billion API requests PER DAY. What is Infura? Well you can think of it as a rentable Ethereum full node. It basically allows you to run a service or dapp on Ethereum without having the infrastructure costs or hassle or running your own full node. Now why is this 10 Billion API requests per day stat important? Because it shows just how much the industry is growing.
A lot of blockchain fudsters like to point to the fact that the number of transactions per day on Ethereum is falling, and that means that adoption is not happening.
Using a stat like transaction volume to gauge the adoption of blockchain would be akin to using e-commerce transaction volume to gauge the adoption of the Internet.
Of course that does not make sense!
An Infura API request is comparable to a webpage visit, whereas an Ethereum transaction is comparable to an e-commerce transaction (when you buy shoes on Ebay, for example)
Now ask yourself, what is your average ratio between webpage visits vs. online shopping transactions? 50:1? 100–1000 : 1?
I for sure use the Internet for browsing, information gathering, and entertainment far more than I use it for shopping and making transactions. The blockchain ecosystem is the same.
Which brings me to my next point:
Gods Unchained is a turn-based, virtual card battle and trading game using Non-Fungible Tokens as cards. Players can wager and win cards as spoils of war for winning battles. If you watch the trailer above, you might think that this game is very similar to another card battle game, Hearthstone.
Well that’s all good, since the video-games industry has a history of forking and adapting successful game genres and franchises to fit players’ wants and needs. Fortnite, one of most popular Esports video-games, can be seen as coming from an amalgamation of Gears of War and Minecraft. The advantage that Gods Unchained brings is that by leveraging blockchain and smart contracts, they can have most of the advantages of physical card games (provably scarce cards, collectibility, trading & selling) AND online card battles (graphics, global matchmaking, rankings, speed) without many of the downsides. It almost brings me back to my Magic: The Gathering days…
Do yourself a favour and go to LinkedIn, and search in their Jobs section for “Blockchain”. There are so many openings out there it is almost insane. There is clearly a lack of blockchain talent in the world, and an over-demand for this talent.
But I can already hear the fudsters shriek “Well, many of those jobs are in startups and ICO gigs, and not with well-known enterprises” (As if there were something wrong with that…)
Applying the “IBM” or “Microsoft” or “Samsung” filters to the “Blockchain” jobs search yields hundreds of openings for each enterprise. This is another sign that #BUIDL is upon us.
Infrastructure protocols built to make #BUIDL’ing much easier.
When the Internet first started gaining traction, it was because of the primary use-cases of cats, gaming, and gambling. We see the blockchain industry following in a very similar vein with CryptoKitties, Gods Unchained/Loom Network, and the many blockchain based betting applications out there.
What is missing however is a standardized protocol for all these betting applications to adhere to, to allow them to interface with players, regulators, and operators in an efficient and cost effective manner. What we see in the blockchain based betting industry is a lot of disparate silos. But that is just repeating the same mistakes of the past. There need to be open standards. Just like Ethereum’s ERC-20 and 721 standards, we have seen that such protocols unlock massive potential.
We at BetProtocol are BUIDL’ing this very infrastructure.
Come and join us, and if you’d like to get into contact please let us know. We are always looking to work with innovative brands and talented developers.
Thank you for reading, and we hope you feel a bit better about the future of blockchain after this post.