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Andreessen Horowitz identified the main trends of the crypto market in 2024

Partners at Andreessen Horowitz (a16z) have predicted a new era of decentralization, the unification of artificial intelligence and blockchain, and the development of the non-fungible token (NFT) sector in 2024.

A new era of decentralization

In their forecast, experts emphasized the importance of decentralization. According to them, it helps create reliable infrastructure, promotes competition and diversity of ecosystems, and gives users the right to choose.

“As these models evolve, we will soon see unprecedented levels of decentralized coordination, operational functionality and innovation,” a16z said.

Changes in UX

The fund’s partners believe that user experience (UX) trends in the cryptocurrency space have remained virtually unchanged since 2016. However, developers are actively testing and deploying new tools that can change the UX. This includes access keys that make it easier to log into apps and websites, smart accounts, in-app crypto wallets, and remote procedure call (RPC) technologies that can recognize user wants and needs.

Combining Blockchains with AI

Experts believe that with the help of cryptography, everyone can contribute to the development of AI and make it more accessible. However, it is necessary to find ways to decentralize generative AI and control it democratically, so that no one participant has the right to decide for everyone else, experts noted.

NFTs will become an integral part of the brand

As a16z partners stated, many well-known companies offer digital products to the mass consumer. As an example, they cited Starbucks with a gamified loyalty program, NFT collections from Nike and Reddit.

“Brands can do much more: they can use NFTs to represent and reinforce customers’ identity and community,” says a16z in a report.

In addition, experts predicted the further development of Play-to-Earn games and modular technology stacks in 2024.

Source: Cryptocurrency

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