{"id":341176,"date":"2021-09-18T22:07:28","date_gmt":"2021-09-18T19:07:28","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-is-great-but-real-crypto-innovation-has-moved-elsewhere\/"},"modified":"2021-09-18T22:07:28","modified_gmt":"2021-09-18T19:07:28","slug":"bitcoin-is-great-but-real-crypto-innovation-has-moved-elsewhere","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-is-great-but-real-crypto-innovation-has-moved-elsewhere\/","title":{"rendered":"# Bitcoin is great, but real crypto innovation has moved elsewhere"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3525462fd14\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3525462fd14\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-is-great-but-real-crypto-innovation-has-moved-elsewhere\/#Theres_a_seismic_shift_at_hand\" >There\u2019s a seismic shift at hand<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin is great, but real crypto innovation has moved elsewhere <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDkvOTA5N2E5MzktNTNlYS00OTVmLWJiOWItODkyYjNhMTM5Mzk4LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>Something is brewing, and those with finely tuned noses can smell it. As traders have come to expect, Bitcoin (BTC) is doing \u201cBitcoin things\u201d by bouncing around between the usual \u201ckey\u201d support and resistance levels, and to be honest, it\u2019s all starting to feel a bit boomerish.<\/p>\n<p>Bitcoin\u2019s long-awaited \u201cmoon\u201d depended on institutional investor buy-in, breaking the previous all-time high at $19,000, and a set of other firmly held beliefs. Well, all that h<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>ened, and the run to $64,900 exceeded many investors\u2019 wildest dreams. But despite this, the entire BTC situation just feels predictable and boring if you are of the opinion that the top-ranked cryptocurrency will eventually top out around $100,000 in the current bull market.<\/p>\n<p>So, back to what else is brewing\u2026<\/p>\n<p>Decentralized autonomous organizations (DAOs) are hot, nonfungible tokens (NFTs) are hot, play-to-earn gaming is hot and the Metaverse is hot. <\/p>\n<p>This is where the real heads are right now \u2014 speculating, building, pondering, networking and doing shit that actually matters. And what is unique about those who are really putting in work in the trenches of crypto is that this grassroots approach and bottom-up building trend is leading to some of the space\u2019s most groundbreaking projects. <\/p>\n<p>Take Dom Hofmann\u2019s \u201c<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/dhof\/status\/1431316631934967815\">Loot<\/a>\u201d project as an example, or the recent <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/goodbridging\/status\/1436474396894449667\">Good Bridging<\/a> and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/BridgeLoot\/status\/1437128945141370883\">BridgeLoot<\/a> drops in the Avalanche ecosystem. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">LOOT<\/p>\n<p>&#8211; randomized adventurer gear<br \/>&#8211; no images or stats. intentionally omitted for others to interpret<br \/>&#8211; no fee, just gas<br \/>&#8211; 8000 bags total<\/p>\n<p>opensea: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/qSnRJ1FD0n\">https:\/\/t.co\/qSnRJ1FD0n<\/a><br \/>etherscan: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/bF9p0RSHX2\">https:\/\/t.co\/bF9p0RSHX2<\/a><\/p>\n<p>available via contract only. not audited. mint at your own risk <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/uLukzFayUK\">pic.twitter.com\/uLukzFayUK<\/a><\/p>\n<p>\u2014 dom (@dhof) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/dhof\/status\/1431316631934967815?ref_src=twsrc%5Etfw\">August 27, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script>Rather than putting on a suit, throwing together some c-suite-friendly presentation and chasing after venture capital dollars, Loot was minted for free by interested participants willing to pay the gas costs, and the community ascribed value to the NFTs via OpenSea sales. <\/p>\n<p>The value of new ideas was agreed upon by a flurry of discussions in Discord, and anyone with an idea was free to launch their own derivative contract where Loot holders could then replicate the minting and listing cycle again.<\/p>\n<p>Will Papper\u2019s <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/WillPapper\/status\/1433243941449568259\">airdrop<\/a> of 10,000 Adventure Gold (AGLD) to Loot NFT holders, soon became worth over $50,000 and catapulted the entire project to stardom and into the history books. It was essentially the \u201cYFI\u201d of NFTs, some would say.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Theres_a_seismic_shift_at_hand\"><\/span>There\u2019s a seismic shift at hand<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>What\u2019s unique and intriguing about Loot is that it has set the precedent for what is becoming a new drop model in the space. The process involves creating a product (whether it be an NFT or a protocol), mentioning it to an interested community, and allowing them to mint tokens for free within the 7,777 to 10,000 supply range. After that, creators let the community, speculators, believers and OpenSea do the rest.<\/p>\n<p>Hofmann encouraged the entire fam to do what they wanted with the project \u2014 he essentially said, \u201cThis is yours! Go and build, my children!\u201d The anon genius behind the Good Bridging (GB) token drop also did the same but with even less guidance. <\/p>\n<p>Basically, 16,000 early users of Avalanche\u2019s Ethereum-to-Avalanche bridge got an 895 GB token airdrop, which at its peak price of $2.60 per GB was worth about $2,300. Not too shabby, eh? <\/p>\n<p>To add to this, GB holders who didn\u2019t im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely liquidate the drop were eligible to mint a gasless BridgeLoot NFT as a reward, and a few hours later, the Avalanche-based NFT marketplace Snowflake verified and listed BridgeLoot, where many holders listed their NFTs for <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/snowflake.market\/token\/0x4a53b37bd532b7288a949ebe20df27f6dd83a2b0::6510\">20 to 100 AVAX<\/a>. <\/p>\n<p>From a markets perspective, money chases after money. Investors chase after liquidity, and that&#8217;s part of what drives price action within markets. <\/p>\n<p>We see this happening with all the layer-one incentive launches where hundreds of millions of dollars are shifting from ETH to Fantom, or ETH to Arbitrum, or ETH to AVAX, or ETH to LUNA, or ETH and USDC to Web3-based decentralized exchanges like dYdX and GMX. <\/p>\n<p>The point is that crypto is driven by liquidity and trends. The whole Loot phenomenon let the cat out of the bag and enlightened builders on a feature that has always been present but only recently uncovered. <\/p>\n<p>Bottom-up fundraises, NFTs with utility in the Metaverse, DAOs and the great liquidity suck into layer-2 ecosystem are here to stay. <\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. 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As traders have come to expect, Bitcoin (BTC) is doing \u201cBitcoin things\u201d by bouncing around between the usual \u201ckey\u201d support and resistance levels, and to be honest, it\u2019s all starting to&#8230;<\/p>\n","protected":false},"author":1,"featured_media":341177,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDkvOTA5N2E5MzktNTNlYS00OTVmLWJiOWItODkyYjNhMTM5Mzk4LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,74862,74894,87262,74863,75186,74868,74891,76556,75719,95119,95118,73785,4947],"class_list":["post-341176","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-bitcoin","tag-blockchain","tag-crowdfunding","tag-cryptocurrencies","tag-dao","tag-defi","tag-ethereum","tag-fintech","tag-funding","tag-layer2","tag-nft","tag-markets","tag-opinion"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/341176","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=341176"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/341176\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/341177"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=341176"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=341176"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=341176"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}