Web3: Where will the next consumer giant come from?

This article is based on a research report by 1kx Network to explore the huge potential and development trends contained in the consumer cryptocurrency market. The report notes that the rise of emerging platforms is often accompanied by the decline of existing giants, and blockchain technology is creating a brand new consumer platform that revolutionizes the fields of gaming, social media and creator economy.

The inevitable law of platform evolution: subversion and rebirth

History has repeatedly proved that the emergence of new platforms will give birth to new industry leaders. Traditional giants often lose their market dominance due to misjudgment, slow response or insufficient execution of new technology trends. The reason is that new technological paradigms require new thinking patterns and business strategies. Successful cases in the fields of mobile games and online video fully confirm this rule.

Mobile Game: From the Edge to the King

In the 2000s, hardcore games dominated the game market, while mobile games were ignored by traditional players due to factors such as small screens and limited performance. However, mobile games have realized the vision of online battles anytime, anywhere, created a free game mode, attracted a large number of new users, and spawned new game companies. These emerging companies focus on unique game types, and their target user base is also completely different from traditional players.

Although many people at the time believed that "these are not games in the true sense", the ultimate revenue scale of mobile games far exceeded that of traditional games.

Online Video: Victory of the Decentralization Wave

The online video field has undergone similar changes. The traditional TV model has become increasingly prominent problems such as high entry threshold, high cost, and regional restrictions, but traditional media underestimate the potential of online video. The decentralization, low threshold and globalization of online videos have completely changed the way content creation and dissemination.

The result is that the traditional entertainment industry has been reshaped, emerging media companies have emerged, and new content forms and business models have been created. Online video eventually surpasses traditional TV and continues to grow.

Blockchain: Next Consumer Platform

Blockchain technology is building a brand new consumer platform that is decentralized, globalized, and supports digital asset ownership and programmable incentives. This will revolutionize areas such as gaming, social media and creator economy and create new user groups and market spaces.

Vertical integration: Web3's winning strategy

In a decentralized environment, vertical integration will become the key to the success of enterprises in the consumer cryptocurrency field. Unlike traditional enterprises, the open source characteristics of the Web3 ecosystem enable enterprises to naturally achieve vertical integration as their business grows, thereby more effectively controlling the value chain, achieving economies of scale and flexible commercial monetization.

Cases such as Coinbase, Axie Infinity, Pudgy Penguins and LINE have demonstrated the effectiveness of this strategy.

Consumer-level encryption technology is considered to be the ultimate form of the development of the Internet. With the continuous advancement of technology, its application potential in the consumer field will be further released, reshaping the way consumers interact with the Internet, and becoming an important driving force for the future digital economy.

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