Cryptocurrency is among the most debated industries this year, and things will stay the same next year, too. The purchasing consideration for Bitcoin, Ethereum, and so on remains steady while crypto owners keep researching new digital assets to invest in.
Consumers have been seeing things differently and considering growing their own vegetables, fruits, etc.
All these trends beg the question “What will happen next year?”.
With persistent inflationary pressures and a looming recession, analysts researched significant trends to come next year across crypto, Web3, scratch cooking, and more. Keep reading to find out what’s in store for 2023.
Cryptocurrencies payment integration
Blockchain, when used for payments, can help minimise cross-border remittance costs and handle payment confirmation while ensuring the security, traceability, and transparency of payment-related data. Last year, the global blockchain market was estimated at $4.67 billion, and it’s expected to grow significantly. According to Statista, revenue in the cryptocurrencies segment is predicted to grow at a CAGR of 16.43% by 2027.
And since blockchain can revolutionise dozens of industries, including education, healthcare, entertainment, peer-to-peer payments for retail, and so on, it’s clear to see why you’ll be able to pay with Bitcoin for more services than you do now.
Are you considering diversifying your portfolio with cryptocurrencies? Are you an aspiring successful crypto trader, or do you want to jump on the bandwagon and explore the crypto world more?
Whatever the case, when the time to buy crypto comes, ensure you use a popular, widely-used exchange for maximum security and check the current Bitcoin price USD to determine the best moment to buy (or sell) your digital coins.
After that, you’ll be able to pay with your crypto for a wide range of services and products, including:
- Art and collectables
- Flight tickets
- Bus tickets
Scratch baking and cooking
Consumers prefer scratch baking and cooking nowadays more than ever, especially since inflation was the main story in food & beverage in 2022. Soaring food prices led to the category’s most incredible inflation rates since the early 1980s, prompting buyers to use various strategies to save money on groceries, ranging from buying fewer products to trading down to lower-cost ones.
As the world approaches 2023, not only has food inflation not yet decreased, but consumer sentiment has also seen a decline. Consequently, economic instability and uncertainty have made their way into the fridge.
In 2023, the need for savings, self-sufficiency, and comfort will lead more customers to adhere to scratch baking and cooking initiatives. Self-sufficiency during the Great Recession looked like homemade food, backyard chickens and gardening. Nowadays, the population is also very close to such times.
The best part is, however, that people are more health conscious and seek ways to consume healthier food. When procuring, growing, and cooking partially self-made meals, individuals take more comfort (and pride) in not consuming poor-quality products.
The future of Web3
The future of Web3 is bright, as numerous start-ups and organisations worldwide work to deliver new solutions and products in the following years. While 2022 brought many challenges, and blockchain projects, whose technology is intertwined with Web3, weren’t spared, the next period might be critical for applying these concepts.
According to analysts, the current Web3 cycle may be longer than prior ones due to factors like the overall global economy. For current initiatives, this calls for rethinking their treasury management and income generation methods to develop a stable financial backbone. Launching projects, on the other hand, can build solid relationships with other industry partners and diversify risks immediately.
All in all, 2023 may see greater adoption of Web3 as many institutions and organisations will start to realise its advantages over conventional, traditional systems. Here are four examples of benefits:
- More efficient storage space
- Faster transactions
- Lower costs
Web3, VR, and gaming
Experts believe that the trend of integrating Web3 mechanics into VR and gaming will continue beyond 2022. Web3 gaming will also strive to use blockchain technology as a fundamental component. As one of the main drivers for mass adoption, this may bring about Web3 UI/UX advances. Additionally, smaller capitalisation forces projects to shift from considering tokens as a fundraising instrument to looking at them as essential components of the product that sustain the internal economy.
Hopefully, this will help actual economies stabilise, and new, more well-thought-out product economies will appear.
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To understand the future of Web3, you must first grasp the trends in this industry. The introduction of “zero-knowledge proof” is one trend promising to impact 2023 significantly. These are methods through which one party can confirm they have specific data without revealing anything about it, allowing for improved security and privacy.
As you observe the emergence of these protocols, those who have hands-on experience or know Zero-Knowledge Proof are becoming in demand.
Video streaming bundles
Video streaming packages will come back as a huge trend. Regarding the streaming wars, next year will be the year of the bundle. It may feel like a throwback or déjà vu to 2022 and 2021. However, lately, amid a harsh macroeconomic backdrop, expectations for this industry have readjusted. It’s expected that streamers will be forced to find new ways to accelerate sign-ups more cost-effectively.
You’ll likely see new personalities and companies forging bundle deals with non media giants and music streaming services. Warner Bros combining and HBO Max’s combination is among the most powerful demonstrations of the power of two streamers cooperating in 2023. It’s unknown how much the combined service would cost, but it will undoubtedly put pressure on the largest video streaming providers to make more material available to customers.
Regenerative Finance (ReFi)
ReFi can also impact 2023. Next year’s Web3 trends may include social media, self-custody, and messaging on the blockchain. Regarding ReFi, a major focus is building systems that restore and preserve physical resources and minimise carbon emission consequences.
As a result, it is projected to play a significant role in Web3 innovation and initiatives aiming to have a beneficial environmental impact.
Overall, 2023 will see a shift in consumer trends regarding crypto, alimentation, the entertainment industry, etc. Stay tuned to see where the world is going and how you can benefit from changes.