Since DeFi began to see widespread use, almost $80 billion of capital has been contributed to DeFi protocols, with the total capitalization of decentralized finance projects standing at $1.5 billion, and in October 2021 total investments reached US $148 billion.ĭAOs, meanwhile, are an alternative to traditional, top-down corporations. Meanwhile, Binance’s Binance Coin cuts the transaction fee (“gas”) required by more established cryptocurrency with rapidly growing chains by an order of magnitude. The future promises even more in this field.įor instance, Terra has created a range of stablecoins and payment systems that can break up the hegemony over money transfer enjoyed by companies like PayPal and Western Union. Prediction markets, which offer an alternative to legally questionable betting platforms.Stablecoins like Tether, which are indexed to fiat currencies as an alternative to more volatile market-leading currencies.Decentralized exchanges, which allow users to perform transactions without the risks of intermediary companies.These are concepts that use blockchain-based and cryptologically verified smart contracts to enable collective action in widely varied fields: from financial instruments and exchanges to creator-focused tools and services to democratize access to money.ĭeFi tokens help to automate market processes, like currency arbitrage and creating liquidity pools, without the overhead of a financial institution. The groundwork for the exciting phenomenon of collective ownership NFTs was laid by two concepts at the core of the financial blockchain: Decentralized Finance (DeFi) and Decentralized Autonomous Organizations (DAO). Take a look at the market cap, number of NFT artworks: Thankfully, cryptoart marketplaces like OpenSea and incubators like Snark.art are there to make the development and distribution process one of growth and community building.įrom the hypebeast elites of the Bored Ape Yacht Club to accessible and quirky generative projects like Danil Krivoruchko and Michael Joo’s OG:Crystals, there is a wealth of precedent and inspiration for creating art that appeals to a far wider swath of buyers and collectors than the monolithic artworks of the past. Let’s see Sotheby’s beat that!įor artists and creators just waking up to the trend, this might seem like a daunting figure, and one in which it’s easy to get lost. At the moment of writing, that’s $1,164,650,361.28 - with almost 2 million artworks sold to date. From the moment that non-fungible tokens first started to gain popularity in 2018, they have grown astonishingly: the current market cap for cryptoart is 269,493.307 ETH. Future of NFTsīy now, the NFT boom is large enough to be seen from space. The sheer volume of innovation is staggering, so Collective Intelligence Labs put together a report on today’s creator economy.
Gomez peer alternative software#
Remote work is the new normal, our identities have been absorbed into a distributed universe of data, and every single one of us has the tools to make - and monetize - what we create.įirst, we built software to create and host our work online then we built out the internet’s infrastructure into Web 2.0, to create new opportunities for sharing these creations and today we are witnessing a groundswell of tools, services, and communities dedicated to helping companies and creators protect, sell, and distribute their work securely and affordably. We’re in the midst of a sea change right now, the likes of which we could never have predicted.