Valuations as in every new industry is a hard thing to understand.
I believe Hive valuation is a combination of different factors:
- Bitcoin believers (if Bitcoin goes up so to Hive) (People in the space have exposure to it)
- Ethereum believers (if Ethereum goes up so to Hive) (People in the space have exposure to it)
- Crypto gaming believers
- NFT believers
- Decentralized social media believers
- De-Fi believers
- Decentralization in general believers
- Web3 believers
Now, some of these "assets", if you will, are more developed or less developed. The assets that have been developed and are their golden time have been reflected in price.
We didn't get the traction from De-Fi, well a little thanks to LeoFinance.
We don't get the traction from NFT space (artistic I'm refering to)
We've gotten some traction from gaming thanks to Splinterlands.
We've gotten some(small still) traction thanks to web3.
We've gotten traction from Bitcoin raise.
We've gotten traction from Ethereum raise.
We will open ourselves to decentralized storage thanks to SPK Network.
If we can develop the decentralized social media aspect dramatically we may get some huge attention. But, how we achieve it? I believe as hive price increases and rewards increases a network effect will form (it's forming, people are already increasing the posting amount dramatically the past few days)(see @penguinpablo statistics).
I believe we didn't get network effect during this year because the price was still so low that rewards were low. But rewards are starting to become interesting. If hive price were to 4x thanks to Bitcoin and web3 increase we may see an explosion in the decentralized social media aspect. Which would position ourselves in the industry and get attention. That attention may trigger the further development and value capture of De-Fi, gaming, NFT and decentralized storage, increasing further the valuation of hive. We may get to top 20 very quickly. It sounds delusional but networks effect work like that.
I believe we just need Bitcoin, Ethereum, web3 or gaming to go up. And we will get some explosions in hive.
RE: Is a Web3 Summer Possible? | HIVE's Potential Path to $100