DEVO INVESTIR EM NEAR? ANÁLISE COMPLETA

Orlando on Crypto

20 Jun 202409:41

Summary

TLDRThe video discusses the performance of the cryptocurrency NEAR Protocol in 2024, highlighting its initial growth and subsequent 41% devaluation. It delves into NEAR's evolution from an Ethereum competitor to a platform focusing on user experience and scalability, especially with the introduction of the BOSS algorithm. The script explores NEAR's strategic shift towards AI and data availability, partnerships with other blockchains, and its reliance on specific apps like Kikai for user engagement. It concludes by assessing NEAR's potential as a promising project with clear catalysts for growth but warns of its dependency on a few applications and the AI narrative.

Takeaways

📈 The NEAR protocol experienced a 152% increase in the first quarter of 2024, reaching a peak valuation of 9, but then saw a 41% devaluation in the following 100 days, prompting investor concerns about its future potential.
🚀 NEAR was created in 2017 with the goal of becoming a scalable and fast smart contract platform, initially aiming to compete with Ethereum, known as an 'Ethereum Killer'.
🔄 In 2021, NEAR shifted its focus from being an Ethereum competitor to prioritizing user experience and project development, leading to the development of the BOSS algorithm in March 2023 to simplify application development on the platform.
🌐 The BOSS update aimed to make NEAR more accessible for non-blockchain focused applications, attracting projects like the Southeast Asian e-commerce app Kikai, which significantly boosted NEAR's user base and price.
🛍️ Kikai, an AI-powered e-commerce app, became a major catalyst for NEAR's growth, demonstrating the protocol's ability to attract non-crypto native applications and users.
🤖 NEAR has been increasingly focusing on artificial intelligence, launching an AI Hub in May of the current year, positioning itself as a significant player in the AI narrative.
🔗 NEAR has been working on data availability solutions, aiming to provide more efficient and cost-effective data services for the Ethereum ecosystem compared to other solutions like Celestia and Eng layer.
🤝 NEAR has formed strategic partnerships with development kits like Arbitron and Polygon, signaling its intention to integrate and innovate within the broader crypto ecosystem.
📊 Despite its growth, NEAR shows a significant dependency on a few key applications, such as Kikai and Hot Games, for its user interaction and activity, which could pose risks if these apps lose popularity.
👥 NEAR has been successful in onboarding new users and retaining active ones, indicating a healthy influx of non-crypto users and a promising user retention rate.
🔮 The future of NEAR is closely tied to its upcoming data availability solution and the sustainability of its AI narrative, with key events and partnerships potentially acting as catalysts for its price and adoption.

Q & A

What was the performance of the NEAR protocol in the first quarter of 2024?
-The NEAR protocol experienced an appreciation of 152% in the first quarter of 2024, reaching a milestone of 9.
What happened to the NEAR protocol's value in the last 100 days mentioned in the script?
-In the last 100 days, the NEAR protocol underwent a devaluation of 41%, raising concerns among investors about its future potential.
What was the original goal of the NEAR protocol when it was created in 2017?
-The NEAR protocol was created with the goal of being a scalable and fast smart contract platform, aiming to become a competitor to Ethereum, which was then referred to as an 'Ethereum Killer'.
How did NEAR's strategy evolve in 2021?
-In 2021, NEAR began to reevaluate its structure, realizing that trying to dethrone Ethereum did not make much sense. They started focusing more on the development of the project and user experience.
What significant update did NEAR introduce in March 2023?
-In March 2023, NEAR developed the BOSS algorithm, a plan for internal improvement aimed at making it easier to develop applications not focused on blockchain.
How did the BOSS update influence the direction of NEAR protocol?
-The BOSS update opened a new precedent for NEAR, focusing on creating solutions that did not require direct connection with blockchain infrastructure, aiming to attract projects and solutions outside the crypto market.
What is the significance of the KikAI app for NEAR protocol?
-The KikAI app, an e-commerce app using artificial intelligence, became a phenomenon in Southeast Asia and was responsible for a significant growth spurt for NEAR, attracting new users and catalyzing a cycle of growth for the protocol.
What is the role of the BOSS update in attracting non-crypto projects to NEAR's infrastructure?
-The BOSS update made it easier for non-crypto projects to utilize NEAR's infrastructure without needing to directly engage with blockchain, thus broadening the range of applications and solutions that could benefit from it.
What was the impact of the KikAI app on NEAR's user activity and price behavior?
-The launch of the KikAI app in the second half of 2023 led to a significant increase in user activity and positively influenced the price behavior of NEAR.
How has NEAR positioned itself in the narrative of artificial intelligence?
-NEAR has positioned itself prominently in the artificial intelligence narrative by launching its AI Hub and working closely with the founder's participation in NVIDIA's conference, aiming to integrate AI more deeply into its ecosystem.
What is the significance of NEAR's partnerships with development kits like Arbitron and Polygon?
-The partnerships with development kits like Arbitron and Polygon are significant as they indicate NEAR's intention to work within the broader ecosystem, not just as a first-layer solution competing with Ethereum, but also providing data availability solutions for second-layer ecosystems.
What are the main factors that could potentially catalyze the price of NEAR in the future?
-The main factors that could catalyze the price of NEAR are the launch of its data availability solution, which should compete with Celestia and Ang Layer, and the sustainability of the hype around its artificial intelligence narrative.
What is the current dependency of NEAR in terms of user interaction?
-Currently, NEAR has a significant dependency on a few applications, with KikAI and Hot Games accounting for about 50% of the interactions within the NEAR ecosystem in the last three months.
How does NEAR's user onboarding and retention look like according to the script?
-NEAR is successfully maintaining a constant onboarding of new users, particularly those from outside the crypto space, and also has an interesting retention rate, which is a positive sign for the protocol's future.
What is the conclusion about NEAR's potential in the next market upcycle according to the script?
-The conclusion is that NEAR is a promising project for the next market upcycle, showing strong fundamentals, growth, and innovation. However, it's important to understand its significant dependency on a few applications and a single narrative of artificial intelligence.

Outlines

00:00

📈 NEAR's Journey and Strategic Shifts

The video script discusses the performance of the NEAR protocol, highlighting its 152% increase in the first quarter of 2024, followed by a 41% devaluation in the subsequent 100 days. This raises concerns among investors about the future potential of NEAR in their portfolios. The script provides a historical overview, mentioning NEAR's creation in 2017 as a scalable and fast smart contract platform, initially aiming to compete with Ethereum. However, by 2021, NEAR shifted its focus from being an 'Ethereum Killer' to enhancing user experience and project development. The introduction of the BOSS algorithm in March 2023 marked a significant change, making it easier for non-blockchain focused applications to be developed on the platform. This attracted a major Southeast Asian e-commerce app, Kika, which utilized AI to recommend content and drive sales, significantly boosting NEAR's user base and price. The script also notes NEAR's pivot towards AI and data availability, with partnerships and plans to provide efficient data solutions for Ethereum's second-layer ecosystems.

05:02

🔍 Analyzing NEAR's Future Prospects and Dependencies

The second paragraph delves into the future prospects of NEAR, starting with an invitation to join the presenter's newsletter for daily crypto analysis. The presenter then shares his research findings on NEAR's usage and dependency on the Kika app and Hot Games, which account for a significant portion of NEAR's activity. While this indicates NEAR's ability to onboard new users, it also raises concerns about over-reliance on a few applications. The presenter identifies upcoming catalysts for NEAR's growth, such as the launch of a robust data availability solution and the continuation of the AI narrative. He concludes that while NEAR shows promise with clear growth and innovation, understanding its significant dependency on a few applications and the AI narrative is crucial for managing investment positions effectively. The script ends with an invitation for viewers to share their thoughts and suggest other assets for analysis.

Mindmap

Keywords

💡Near Protocol

Near Protocol is a decentralized application platform designed to be scalable and fast, aiming to compete with Ethereum. In the video, it is discussed as a project that has evolved from trying to be an 'Ethereum Killer' to focusing more on user experience and project development. It is a central theme of the video, which explores its value and potential in the crypto market.

💡Cryptocurrency Market

The cryptocurrency market refers to the space where digital or virtual currencies are traded. The video discusses the performance of Near Protocol within this market, particularly its appreciation and depreciation trends, and how it might affect an investor's portfolio.

💡DeFi (Decentralized Finance)

DeFi is an umbrella term for financial services that are operated on a decentralized blockchain rather than being provided by traditional financial institutions. The script mentions that Near Protocol has been developing dynamics to attract more DeFi projects, which is a significant aspect of its growth strategy.

💡DApps

DApps, or decentralized applications, are applications that run on a blockchain network. The video highlights that Near Protocol has been updating its platform to make it easier for developers to build non-blockchain focused applications, which is a shift from its initial focus.

💡Algorithm Boss

The Algorithm Boss is a development plan within Near Protocol aimed at making it easier to develop applications on the platform. It is mentioned as a key update that has helped attract new projects and users to the Near ecosystem.

💡Kaikado

Kaikado is an e-commerce app mentioned in the script that uses artificial intelligence to recommend content and purchase options within the app. Its integration with Near Protocol has significantly contributed to the growth and user engagement of the platform.

💡Artificial Intelligence (AI)

AI refers to the simulation of human intelligence in machines that are programmed to think like humans and mimic their actions. The video discusses how Near Protocol is positioning itself with an AI hub and how its association with AI has been a driving factor in its market narrative.

💡Data Availability

Data availability in the context of the video refers to the project's plan to create solutions that allow for more efficient and cost-effective data provision within the ecosystem. This is part of Near Protocol's strategy to attract projects outside the crypto market.

💡Layer 2 Solutions

Layer 2 solutions are protocols built on top of a blockchain to help scale its capabilities. The script mentions that Near Protocol is working on solutions to allow layer 2 solutions of the Ethereum ecosystem to use its blockchain for data availability, which is a significant development in its roadmap.

💡Arbitrum and Polygon

Arbitrum and Polygon are both layer 2 scaling solutions for Ethereum. The video mentions partnerships with these projects as part of Near Protocol's strategy to integrate within the broader Ethereum ecosystem and offer its services to a wider audience.

💡Investment Portfolio

An investment portfolio refers to a collection of financial assets such as stocks, bonds, and in this case, cryptocurrencies like Near Protocol. The video aims to help viewers decide whether including Near in their portfolio is still valuable or if it might become a liability in the next market cycle.

Highlights

Near Protocol experienced a 152% increase in the first quarter of 2024, reaching a value of 9.

A 41% devaluation occurred in the last 100 days, raising questions about Near's potential as a promising asset.

Near was created in 2017 with the goal of being a scalable and fast smart contract platform, aiming to compete with Ethereum.

In 2021, Near shifted its focus from being an 'Ethereum Killer' to enhancing user experience and project development.

The introduction of the BOSS algorithm in March 2023 aimed to make Near more accessible for non-blockchain focused application development.

Kaikai, an e-commerce app using AI, became a significant driver for Near's growth in Southeast Asia.

Kaikai's success contributed to a surge in new users and was a catalyst for Near's price increase in the second half of 2023.

Near's strategy involves attracting projects outside the crypto market to utilize its infrastructure.

Near launched its AI Hub in May, positioning itself as a prominent player in the AI narrative.

Near's blockchain is being used to provide data availability solutions for layer 2 ecosystems of Ethereum.

Near has formed partnerships with development kits of Arbitron and Polygon, aiming to launch a scalable solution by the end of 2024.

The speaker conducted a study to assess Near's usability and its dependency on a few key applications.

Kaikai and Hot Games represent about 50% of Near's interactions, indicating a significant dependency.

Near has been successful in onboarding new users and retaining them, despite its dependency on specific apps.

The upcoming data availability solution and the AI narrative's longevity are key catalysts for Near's future.

Near's future success depends on its ability to launch a robust data availability solution and maintain interest in its AI narrative.

The speaker invites viewers to join their newsletter and WhatsApp group for daily crypto analysis.