FLOW: The Blockchain for Mass Adoption
Editor’s Forward:
Flow is an NFT and gaming-focused layer-1-blockchain with the ambitious goal of onboarding the next billion users into crypto.
To put that in perspective: there are almost 8 billion people globally, around 60% of whom are internet users. Out of the roughly 4.8 billion internet users globally, only about 6.25% are estimated to be crypto users. That is a total of 300 million crypto users onboarded over the past decade since the birth of Bitcoin. In comparison, the internet was created in 1983, which means it took 40 years to onboard 4.8 billion internet users. Assuming a similar adoption curve, billions of users will on-ramp to crypto in the next few decades. The remaining 4.75 billion of internet users is the market that Flow is targeting. Symphony Digital believes that Flow has a considerable chance to be the blockchain that helps reach a broader audience and onboard the next billion users which is a massive undertaking.
The team behind Flow, Dapper Labs, is famously known for Cryptokitties, the NFT project pioneer. Instead of adopting existing scaling strategies or creating another EVM fork chain, they are rewriting the entire playbook of layer-1-blockchain from the programming language, to the node architecture, down to wallet management, in an effort to make crypto safer and friendlier to users and developers.
This is the team that has already invented several wheels in the past with overwhelming success. In 2018, the Dapper Labs team co-created the NFT technical token standard, ERC721. They also commercialized the technical standard with the success of Cryptokitties. The project was so popular that it almost crashed the entire Ethereum network in 2018. It was then that Dapper Labs realized a brand new chain architecture was needed to facilitate the amount of traffic that broader adoption of crypto, such as NFTs, would surely bring, hence the conception of Flow.
Dapper Labs was ahead of its time, and they were an early visionary in NFTs and Metaverse. The vision that is more broadly accepted today as Web3, a world where identities and contents are owned digitally and individually within a decentralized structure, is shared and appreciated by investors and partners such as A16z and Animoca Brands.
The team at Symphony Digital has prepared a deep dive research report to explain why we are bullish about FLOW, the native token of the Flow blockchain as it is well-positioned to be the next major success by Dapper Labs.
For access to the full report, please visit https://www.symphonydigital.io/contact-us
About Symphony Digital
Symphony Digital was founded in 2021 to serve institutions and family offices. Through our domain expertise and working with enterprise grade vendors, the Company seeks to provide secure access as well as thoughtful transparency to our investors in the digital asset class.
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