Trump’s Victory Might Be Very Bullish for DeFi and GameFi, Says Sky Mavis Co-Founder
KEY TAKEAWAYS
- Sky Mavis co-founder Jeffrey Zirlin says Trump's presidential win will benefit DeFi and GameFi projects the most. That's largely because of a less tense regulatory environment and the inherent advantage of meme coins.
- Trump's victory already sent Bitcoin just a few steps away from $100K, and meme coins (alongside altcoins) are following suit.
- Some GameFi projects, like The Sandbox, are already receiving significant attention and might be part of the new wave of successful crypto game projects.
Trump's presidential win didn't just send Bitcoin to...checking... $97,600.
It also began a bull run that sent meme coins skyrocketing - the current meme coin market cap is $3.311T, with a $260.2B 24-hour trading volume.
However, the biggest gainers could be DeFi projects and GameFi tokens.
Sky Mavis co-founder Jeffrey Zirlin had a lot to say about Trump's influence on these two industries.
Let's dig in.
DeFi & GameFi as the Biggest Winners in This Cycle?Cointelegraph spoke to Jeffrey Zirlin at the YGG Play Summit in the Philippines. The Sky Mavis (crypto gaming platform) co-founder said Trump's presidency will benefit DeFi and GameFi the most.
So the bottom line is that the token design space has now been massively opened up. I believe that's most bullish for DeFi and gaming, which we believe are the most consequential sectors that have the most long-term substantive value in this industry.
In his words, the previous administration, led by the SEC's Gary Gensler (who resigned recently), was an obstacle to crypto development.
Trump, on the other hand, is seen as the second coming of Chr...ypto's golden age.
Source: TenorThe regulatory environment should become more permissive, allowing the industry to innovate and open the way to the future.
GameFi projects stand to gain the most because of their target audience - speculators who want short-term profits.
And meme coins (which have skyrocketed recently) carry that concept perfectly, which makes them ideal for crypto games.
But Zirlin claims not just any GameFi meme coin will win. Only legitimate, utility-based projects that offer real value will stand out.
Trump Victory Shines the Brightest on Legit ProjectsZirlin isn't the only industry voice claiming that Trump's administration will be pure gold for utility-based crypto projects.
Consensys CEO Joe Lubin said that Ethereum and ETH-based projects are poised to benefit' significantly more than other protocols.
The reason? They're much more developed and mature than anything else in the industry other than Bitcoin.
We'll likely see new gaming projects launching (like The Sandbox) and perhaps succeeding in Trump's crypto golden age.
References- DeFi, gaming will be most positively affected' by Trump: Sky Mavis (Cointelegraph)
- Ethereum poised to benefit' most from Trump win: Consensys CEO (Cointelegraph)
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