The blockchain space captivates many because it constantly produces small, overlooked projects that suddenly grow into giants within months. These projects often spawn entire ecosystems and inspire countless followers. Interestingly, major successes like Bitcoin, Uniswap, and Ordinals weren’t built by well-funded venture-backed companies. Every successful project starts humble—often dismissed as unattractive or worthless—before evolving into something remarkable. This potential for transformation is what makes the crypto world so appealing. A field dominated entirely by established players would lack vitality and innovation.
Airdrops have emerged as one of the most effective methods for rapidly expanding user bases. One might argue that the evolution of token distribution mechanisms mirrors the evolution of blockchain itself. From early hardware mining to ICOs, and then to DeFi liquidity mining, the next bull market could be defined by airdrops. However, the next generation of airdrops will differ from earlier scattered efforts. We may see standardized versions implemented by major blockchain networks, with robust Decentralized Identity (DID) systems as a prerequisite to combat sybil attacks.
Historically, networks like Ethereum lacked native DID systems. For instance, ENS domains are transferable and thus unsuitable for decentralized identity purposes. A growing trend is for large blockchain networks to integrate dedicated DID frameworks. The progression from hardware mining (which drove Bitcoin’s growth) to ICOs (which fueled Ethereum’s expansion) and then to liquidity mining (which empowered DEXs) suggests that airdrops could become the next dominant token distribution model—provided that scalable and reliable DID systems become widely adopted.
Future blockchain networks might embed DID systems directly into their initial design, possibly even linking consensus mechanisms with identity validation. This integration could lead to more unified and efficient ecosystems.
Imagine a universal decentralized identity system where domains with different suffixes and prefixes can interact and transfer value seamlessly—unlike the current isolation between, say, ENS and other domain systems. This vision resembles how Uniswap’s pool model revolutionized decentralized finance. Non-financial applications are poised to become breakout stars in the next bull market. Decentralized identity and account abstraction are not separate concepts but naturally complementary.
Different domain suffixes could serve as usernames in future Web3 social networks or games. The variety of domain applications will likely expand well beyond the current few options. Domain suffixes won’t necessarily represent specific blockchains—as seen with Bored Ape Yacht Club’s attempt to launch its domain—but could symbolize DAOs, gaming platforms, or other communities. Transfers between ENS and Bored Ape domains could become routine, and interactions between users of different domains in games or social settings may become commonplace.
Bored Apes’ move into domains highlights how NFTs with limited supply can expand their reach through identity-based systems. Pairing domains with NFTs is a natural fit. We expect a proliferation of domain suffixes representing diverse communities and DAOs, reflecting a shift in how domains are used rather than consolidation around a few dominant ones.
A unified, cross-chain decentralized identity system could underpin future decentralized social networks and games, serving as universal web3 usernames and profile identifiers. Domain unification isn’t just a possibility—it’s an inevitability.
Currently, the most successful models in crypto—both decentralized and centralized—follow a platform-merchant-user structure. Examples include Ethereum, Binance Smart Chain, and exchanges like Binance and Coinbase. These platforms host “merchants” (such as dApps or listed tokens) that attract users. Like Taobao or DiDi, these platforms thrive by facilitating interactions and often generating revenue through fees. Ethereum and Binance, for instance, charge fees that create sustainable cash flows. Without such models, even prominent projects may struggle to maintain financial stability through market cycles.
The valuation of the largest decentralized social network could rival or even surpass the top cryptocurrency by market cap during certain periods—similar to how capital recently flooded into AI. Global investors pursue innovation across sectors, not just within crypto. The next major breakthrough might emerge from fields like AI, decentralized social networks, nuclear energy, or brain-computer interfaces.
Notably, Paradigm—known for incubating Uniswap—recently broadened its focus beyond crypto. Its website now describes it as “a research-driven technology investment firm,” removing earlier crypto-specific language. This shift signals that跨界融合 (cross-border integration) among promising fields could spawn the next giants, potentially reaching valuations an order of magnitude larger than today’s top projects.
AI and decentralized social networks could eventually surpass the market caps of Apple or Bitcoin. As capital flows toward the strongest and newest innovations, a decentralized social network achieving sustained monthly active users in the millions could attract global investment on a massive scale.
Past bull markets aligned with Bitcoin halving events: the 2017 boom coincided with Ethereum ICOs, drawing substantial capital into blockchain, while the 2021 rally was fueled by Ethereum-based DeFi. The next bull run might combine Bitcoin’s halving with Ethereum’s technical innovations—account abstraction, decentralized identity, and Layer2 solutions—that enhance usability, speed, and cost-effectiveness. These improvements could onboard many new users currently deterred by complexity.
Simultaneously, Bitcoin network innovations like NFTs or other asset storage solutions could attract significant capital. Bitcoin’s superior decentralization and security make it ideal for storing high-value assets. Interoperability between Bitcoin and Ethereum, including asset transfers and identity mapping, will become essential.
The Ordinals protocol, launched in December 2022, enables Bitcoin-native NFTs without relying on Layer2 or sidechains. It operates entirely within Bitcoin’s rules and security framework, making it ideal for high-value digital assets. Bitcoin NFTs could see tremendous valuation growth.
In the next cycle, Ethereum might lose its dominance in adoption (though not necessarily in market cap) to newer,跨界融合projects. Convergence between blockchain and other cutting-edge fields like AI, decentralized social media, or brain-computer interfaces could produce projects that surpass established leaders in user growth, activity, and capital liquidity.
While Bitcoin and Ethereum will continue growing, the next unicorn might be a跨界融合initiative. Uniswap, for example, has potential to become a crypto giant like Binance. A single dApp generating more revenue than its underlying blockchain is plausible—highlighting the competition between DEXs and CEXs. As security concerns around private keys and wallets remain critical, infrastructure improvements will be vital for decentralized exchange adoption.
Among decentralized social protocols, Nostr, ActivityPub, Farcaster, and Lens Protocol are prominent. Nostr stands out for its simplicity and grassroots approach, while Farcaster’s complexity and VC-driven user base may limit its organic growth. Lens lacks innovation, often prioritizing socialFi trends over substance.
Web3 social networks will likely grow bottom-up, unlike DeFi’s capital-intensive model. Even without VC control, DeFi often relies on large stakes. In contrast, decentralized social networks require genuine community engagement—as evidenced by Twitter’s co-founder advocating for decentralized social platforms.
As Matti, an overseas commentator, noted:
“Identity comes first, applications second. Users shouldn’t be locked into one platform for identity. Our blockchain addresses (mainly ETH) are gradually becoming our user profiles. Interaction with the network will invert: identity (address) becomes primary, applications secondary. The network will become a native social web, freeing users from closed platforms. Token-enabled clusters define communities. With the rise of non-transferable verifiable identifiers (e.g., soul-bound tokens), we may see a Cambrian explosion of labels enabling social activity. Thus, crypto-based Web3 social will evolve bottom-up.”
All technology, at its core, revolves around transmitting and aggregating energy and information. Art shares this essence—memes spread as images, not abstract symbols, and music resonates because it’s shareable. What cannot spread hardly qualifies as art. The greatest artists throughout history—from Wu Daozi to Van Gogh—understood their era and created works that endured through widespread dissemination.
Future influential art may emerge from blockchain or AI—Beeple’s $69 million digital artwork exemplifies this shift. Avoiding insular thinking is key: progress requires looking forward, not backward.
Humanity thrives by creating new things that aggregate energy and information. This generates new wealth, making the global economy non-zero-sum. Bitcoin may not always remain dominant; even before Ethereum overtakes it, a new跨界融合crypto project might capture the world’s imagination.
Frequently Asked Questions
What makes a crypto project likely to surpass Bitcoin or Ethereum?
Innovation in token distribution, user adoption, and跨界融合with trending technologies like AI or social networking can drive growth. Projects solving real-world problems with scalable solutions often gain traction.
How important are airdrops in the next bull market?
Airdrops could become a key strategy for user acquisition, especially if supported by reliable DID systems. They offer inclusive participation and can rapidly expand communities.
Why is decentralized identity (DID) crucial for Web3?
DID enables secure, self-sovereign identity across platforms. It reduces reliance on centralized authorities and enhances user control, which is vital for scalable social networks and gaming applications.
Can Bitcoin NFTs become significant?
Yes. Bitcoin’s security and decentralization make it ideal for high-value NFTs. Protocols like Ordinals allow native Bitcoin NFTs without sidechains, potentially attracting major investment.
What role will interoperability play?
Seamless asset and identity transfer between blockchains will improve user experience and drive adoption. Solutions that enable cross-chain interactions without compromising security will be critical.
How should investors approach emerging crypto projects?
Focus on projects with strong fundamentals, real-world utility, and active communities. Avoid hype-driven assets and consider the long-term viability of the technology. 👉 Explore more strategies for evaluating new opportunities.