According to a research report released on Jan. 16 by investment firm Bernstein, the cryptocurrency industry will shift from infrastructure to applications in 2023, with 10 years of innovation in cryptocurrency applications. Laying the foundation for the next “Golden Age”.
According to the company, total cryptocurrency revenue will increase 16-fold over the next 10 years, from about $25 billion in 2023 to about $400 billion in 2033. ). Of the estimated $400 billion in revenue, “decentralized blockchain-driven revenue” will account for almost half, up from just 15% today, Bernstein said in a report.
Bernstein also said that “innovations in blockchain scalability and growth in applications ranging from financial services to consumer tech segments” will drive on-chain revenues from less than $4 billion today to 10 billion in the future. It is expected to soar to nearly $200 billion (approximately ¥25.664 trillion) annually.
Consumer and financial services applications, in particular, will account for about 40% to about 75% of on-chain revenue in 2022. In on-chain financial applications, decentralized exchanges (DEX), lending and structured/tokenized products are expected to be the main players in revenue.
On-chain consumer applications, meanwhile, will see NFT-based gaming revenue as the biggest growth driver, while off-chain revenue will be driven by institutional services such as prime brokerage, custody and market making, Bernstein said. Expect.
｜Translation: coindesk JAPAN
｜Editing: Toshihiko Inoue
｜Original: Bernstein Expects Crypto Revenue to Jump to Around $400B by 2033