A16Z Crypto Shares Anticipated Developments in the Crypto Industry in 2024

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A16Z Crypto Shares Anticipated Developments in the Crypto Industry in 2024
  • Venture capital fund A16Z Crypto outlined several anticipated developments in crypto for the upcoming year. 
  • Updates to the chain’s decentralization, platforms’ user experience, and modular technology stack were mentioned on the list. 
  • A16Z Crypto anticipates a shift from play-to-earn Web3 games to play-and-earn models.

Prominent venture capital fund A16Z Crypto outlined several anticipated developments in the field of cryptocurrency for the year 2024.

The first update is about the chain’s decentralization. Miles Jennings, the general counsel, mentioned that despite the benefits of decentralization for users, it has been difficult to implement at scale. However, Jennings believes that more best practices have emerged recently, mentioned in the blog post, “A few of the things we’re excited about in crypto (2024),” for richer applications and DAOs embracing Machiavellian principles.

Furthermore, A16z Crypto shared that developers are deploying new tools that could reset the frontend user experience (UX) for crypto in the upcoming years. The venture capital fund cited smart accounts, embedded wallets, multi-party computation, and advanced remote procedure calls as innovations in the UX field. 

Additionally, the rise of the modular technology stack was the third on the list of anticipated updates in crypto. Followed by the integration of artificial intelligence (AI) with blockchains. A16z Crypto stated that decentralized, open-source crypto networks will democratize AI innovation, making it safer for consumers. 

One of the anticipated updates is in the field of Web3 gaming, more specifically a shift from play-to-earn models to play-and-earn. Arianna Simpson, general partner at the venture capital fund, claimed that Web3 allows players to counter the current norm where all the proceeds from playing and transacting in games go only to gaming companies. 

Investing Partner Carra Wu said that to maintain integrity in Web3 games, “AI agents in games must come with guarantees: that they’re based on certain models and that those models are executed without corruption.”

The last three anticipated crypto updates in 2024, according to A16z Crypto, were formal verification, NTFs becoming brand assets, and an update on the strategies used to verify computational workloads.

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