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Navigating Crypto: Industry Map

Binance Research (JieXuan Chua, CFA, Shivam Sharma, Mac Naggar)


  • The Industry Map provides an overview of the crypto ecosystem. In this report, we break down different verticals into subcategories, and lay out a few projects in each of them.

  • In this iteration of the Industry Map, we covered nine verticals - Infrastructure; DeFi; NFTs; Gaming; Real World Assets; Decentralized Social; Artificial Intelligence; Decentralized Science; DAO Tooling.

  • Infrastructure: We looked at projects in the areas of Scalability and Fairness; Data Usability and Tooling; Security and Privacy; Computation and Content Delivery.

  • DeFi: We looked at projects in the areas of Issuance; Liquidity; Trading; Connectivity; Risk Management.

  • NFTs: We looked at projects in the areas of Marketplace; Financialization; Service.

  • Gaming: We looked at projects in the areas of Games; Game Development; Player Experience.

  • Real World Assets: We looked at projects in the areas of RWA Rails; Asset Providers.

  • Decentralized Social: We looked at projects in the areas of Identity and Reputation; Social Media; Messaging.

  • Artificial Intelligence: We looked at projects in the areas of Smart Ledgers; AI-Powered Services.

  • Decentralized Science: We looked at projects in the areas of Funding; Research; Data; Publishing / Review.

  • DAO Tooling: We looked at projects in the areas of Governance Structure; Operations Management.


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About Binance Research: Binance Research is the research arm of Binance, the world's leading cryptocurrency exchange. The team is committed to delivering objective, independent, and comprehensive analysis and aims to be the thought leader in the crypto space. Our analysts publish insightful thought pieces regularly on topics related but not limited to, the crypto ecosystem, blockchain technologies, and the latest market themes.

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