Global Blockchain Unicorn Ecosystem

⛓Global Blockchain Unicorn Ecosystem

👉 From Crypto assets to Digital currencies to NFTs to DeFi applications, the Blockchain Technology has not only been attracting huge interest but also receiving generous Funding - resulting in a record number of Unicorns globally; 

👍 Let’s take a Snapshot ! 

 1) It is true that since 2008 when Blockchain was first introduced, it has not really brought the shake-up that some IR4 evangelists have expected. Not yet I would add;

2) And that has mostly to do with the immense hype and level of expectations that this revolutionary concept has been associated with by novice enthusiasts;

3) Decentralization, cryptographic security, transparency, and immutability are at the heart of the blockchain-led transformation;

4) Last year 2021 has certainly witnessed a rapid acceleration of Blockchain value creation, which has directly been translated in the number of Blockchain Unicorns (privately controlled startups with a valuation in excess of $1 billion); 

5) It is indicative that we now have at least 65 companies in the blockchain/crypto sector reaching unicorn status (as per Block Research) compared with just 11 unicorns at the end of 2019;

6) This translates to 491% growth in approximately two years’ time !

7) Apart from the absolute number of companies around blockchain with such high valuations, there is an additional striking element, and this is the astronomical speed with which these valuations have been increasing;

8) Take, for example, OpenSea, an NFT marketplace. Based on their most recent funding round, the company had a valuation of $1.5 billion (as of July 2021). Today they are rumored to be able to land a valuation of over $12 billion should they decide to go public; 

9) The amount of these money flows and the speed with which investors are looking for opportunities in the wider ecosystem speaks volumes for the enormous interest in the disruption potential of blockchain;

10) And this indicates a change in the growth dynamics, meaning that we will see an acceleration in the way things will develop;

11) Having said above, the blockchain transformation will not happen overnight. Mainly because it has to do with an enormous disruption that aims to fundamentally change not only business but also a big part of our daily lives. And such changes, involving technology as a trigger, need an adoption cycle that goes through gradual steps;

12) It seems that we are in the middle of one that is swiftly accelerating, but there is plenty of way forward;

(Graph: Block Research, 2022, Digital Asset Outlook)

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