From DeFi To NFT's?
In Crypto you always need to stay ahead of the game. You need to be looking at what is going to be hot next. What stands the greatest likelihood of succeeding and carrying the Crypto torch further down the road. You need to be doing this before the current fad begins to fade away and loose steam. Bitcoin is touching 11K again but alts have been hammered and are not responding much, at least for now.
Many great DeFi projects are well off of their highs and so we can see the attention begin to shift towards NFT's. A very interesting sector but I don't thing DeFi is done yet, maybe in the traditional sense DeFi might be in for a breather but there is another side to DeFi.
Forget about yield farming, collateralized loans and flash loans for a minute. Consider projects that are DeFi by design and yet have a use case that goes beyond DeFi. Look at a project like Ankr who in their own words claim to be marrying the world of Staking and DeFi together.
Stkr is a decentralized protocol and platform that combines staking and DeFi, implementing elements from traditional staking with non-custodial staking, Micropools and decentralized governance.
This is the type of project that I believe will see the next significant impact. Projects that are DeFi by nature or design but that are also solving and addressing real needs in the Crypto space. This is where the hunt begins. Months ago when Polkadot was an idea of what could be possible I started buying projects within the Polkadot Network.
Fairly recently the Polkadot articles started pumping out but it's too late, you had to be doing your homework back then when Kusama was under $10! Fortunately I found a number of gems fairly early so I will be hodling them for sometime.
In a similar way altcoin hunters need to be looking at where we could be heading from here. Even though one still remains active and relevant in what is currently working, one also needs to be planning and moving towards what will be working tomorrow.
The BTC dominance seems to be gaining a bit of strength of late so alts are currently in a very undecided direction. It is probably wise to confirm a direction regarding the BTC dominance before making any new moves in the market. This is what I am currently doing, looking for DeFi plays that reach beyond the "typical" DeFi scenario and if possible, still have relatively small market caps.
This is not financial advice, DYOR and happy hunting!