Analysts predict the global Web 3.0 market will reach $81 billion by 2030, growing by 41%. This technological revolution is expected to solve many of the problems that internet users currently face. Crypto projects occupy the leading share of Web 3.0. Without them, it is impossible to imagine the development of the technological side of the industry — data storage on the blockchain, decentralized finance, and non-fungible tokens. Web 3.0 will change the internet and contribute to the ever-greater digitalization and decentralization of the economy.
Cryptocurrency markets are actively developing, and most likely, Web 3.0 assets will show the largest growth in 2023. Currently, metaverse project tokens and Web 3.0 cryptos are in demand as they accelerate the development of the virtual economy.
The cryptocurrency market capitalization has decreased from $3 trillion to $1 trillion in two years. The high growth potential of the crypto market in general, and the relatively young age of the industry in particular, makes it possible to invest in projects at the very beginning of the ecosystem development, which means at a favorable price for a token. Take, for example, the stocks of large companies such as Microsoft (NASDAQ:MSFT) (Web 1.0) or Apple (NASDAQ:AAPL) (Web 2.0) in their infancy.
Web 3.0 is one of the most promising areas of the crypto market in 2023. For investors who want to support Web 3.0, these cryptos and NFT tokens can be a good choice for a long-term investment.
Web 3.0 Cryptos: Solana (SOL)
On April 13, Solana (SOL-USD) is launching the Saga phone. This Android device priced at $1,000 has been specifically designed to cater to the needs of Web 3.0 and crypto enthusiasts. Dubbed “Web3 in your pocket,” the Saga phone aims to make crypto payments and NFT trading faster, easier, and more secure. According to Solana, the device will allow users to trade tokens while waiting for coffee or mint NFTs during their morning commute.
Looking back from a future perspective, the new phone appears to have achieved two significant strategic objectives for Solana. Firstly, it has brought together Solana’s Web 3.0-focused initiatives, such as Solana Mobile and Solana Pay. The move made it easier to make in-store payments using a crypto-friendly Android device. The Solana team highlighted this competitive advantage in their update released to the ecosystem members in January 2023.
The Saga phone represents a significant milestone in driving accelerated mainstream adoption of digital assets, providing a tangible product for an everyday crypto user. The complexity of crypto for everyday users and the growing demand for better security make the device’s new feature allowing traders to use their mobile phone as a secure blockchain wallet, a potentially lucrative addition to Solana’s offerings in the crypto hardware market. With no other major blockchain combining software and hardware innovatively, Solana’s Saga phone stands out as a groundbreaking product. Furthermore, given that SOL is trading at ten times below its ATH value, investing in this representative of Web 3.0, cryptos could be an attractive option for those seeking a long-term investment.
Chainlink (LINK-USD) holds 19th place in the cryptocurrency rating with a capitalization of $3.73 billion. 47% of the circulating volume is already in the market. In a nutshell, this is a blockchain network of oracles that provides the data capacity necessary for smart contracts running on various blockchains. The main direction is to increase the efficiency of smart contracts using dynamic exits, which is essential for Web 3.0 development. Oracles are objects that connect real–world data with decentralized systems.
Additionally, the Link token holds a strong position in the Grayscale venture fund’s portfolio. The current asset’s value looks attractive. The nearest investment targets from the current price levels could be considered in the range of $20-30 per coin.
Ocean Protocol (OCEAN)
The project develops the tools developers need to build Web 3.0 applications. Among the main advantages of Ocean Protocol (OCEAN-USD), it is worth noting increased security, privacy, transparency, and scalability. This makes this Web 3.0 crypto particularly interesting in the next 1-2 years.
The protocol decentralizes data access and exchange, which gives better accessibility and transparency during the data transfer. The ecosystem is constantly growing and improving. Simply put, this solution will require Web 3.0 data transfer and storage.
Moreover, Ocean Protocol’s creators made an intelligent approach to the issue of the distribution of tokens, which helps to stimulate asset value’s long-term stability and growth, An additional growth trigger for OCEAN is its developers’ use of AI to create a data-sharing system that allows developers to create immersive apps for communities.
In January, Ocean Protocol released a major update called Ocean ONDA V4 aimed at improving the system’s security and return on investment potential and integrating data NFTs. This increased the project’s popularity and the price of OCEAN by 123.22% over the month. The asset is currently trading at $0.3-0.4. The maximum supply of tokens is 1.410 billion, and 613 million coins are in total circulation.
On the date of publication, Julia Magas did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.