Everyone thinks of @Filecoin as a storage network.
But most people don’t realize that it’s making a covert play to dominate a MUCH larger market (one with $100 TRILLION of opportunity)
Here’s everything you need to know to get ahead of the crowd:
👇
[A microthread ⚡ 🧵]
But most people don’t realize that it’s making a covert play to dominate a MUCH larger market (one with $100 TRILLION of opportunity)
Here’s everything you need to know to get ahead of the crowd:
👇
[A microthread ⚡ 🧵]
2/
On the surface, Filecoin is a decentralized marketplace for cloud storage
It allows developers to “rent” unused storage space from individual’s personal computers
This provides a promising alternative to a market that has historically been dominated by Big Tech
On the surface, Filecoin is a decentralized marketplace for cloud storage
It allows developers to “rent” unused storage space from individual’s personal computers
This provides a promising alternative to a market that has historically been dominated by Big Tech
3/
This decentralized approach offers several competitive advantages over incumbents, including:
• Capacity: Total storage capacity > 16EiB
• Reliability: Daily active faults average <0.0002% (source: CBInsights)
• Cost: Significantly cheaper than Amazon S3
This decentralized approach offers several competitive advantages over incumbents, including:
• Capacity: Total storage capacity > 16EiB
• Reliability: Daily active faults average <0.0002% (source: CBInsights)
• Cost: Significantly cheaper than Amazon S3
4/
This is a massive opportunity in itself, as the market for cloud storage is expected to rise from $103 billion in 2023 to $377 billion in 2029
But there may be an even bigger opportunity on the horizon…
This is a massive opportunity in itself, as the market for cloud storage is expected to rise from $103 billion in 2023 to $377 billion in 2029
But there may be an even bigger opportunity on the horizon…
5/
🔶 The Opportunity
While Filecoin currently focuses on storage, its long-term roadmap is to replace cloud compute.
If they start to onboard GPUs to achieve this end, things could get exciting VERY fast
Why?
Let’s explore…
🔶 The Opportunity
While Filecoin currently focuses on storage, its long-term roadmap is to replace cloud compute.
If they start to onboard GPUs to achieve this end, things could get exciting VERY fast
Why?
Let’s explore…
6/
GPU computing power is becoming one of the most valuable resources of the “4th industrial revolution”
Potential applications include:
•Industrial Uses
•IoT
•The Metaverse
•Gaming
•AI
This could open up >$100T in market value!
GPU computing power is becoming one of the most valuable resources of the “4th industrial revolution”
Potential applications include:
•Industrial Uses
•IoT
•The Metaverse
•Gaming
•AI
This could open up >$100T in market value!
7/
◆ Industrial Uses
GPUs are used in various industrial applications
Particularly in fields that require high-performance computing and data processing like:
• Manufacturing
• Oil and Gas
• Healthcare
• Finance
This could represent trillions in market value
◆ Industrial Uses
GPUs are used in various industrial applications
Particularly in fields that require high-performance computing and data processing like:
• Manufacturing
• Oil and Gas
• Healthcare
• Finance
This could represent trillions in market value
8/
◆ IOT
Many project there will soon be over 100 billion devices connected to the IoT
These devices will collect massive amounts of data.
GPUs will be needed to process and analyze this data, providing real-time analytics for an increasingly interconnected world
◆ IOT
Many project there will soon be over 100 billion devices connected to the IoT
These devices will collect massive amounts of data.
GPUs will be needed to process and analyze this data, providing real-time analytics for an increasingly interconnected world
9/
◆ Metaverse
GPUs will also likely play a key role building the metaverse
In particular, they’re used for:
• Rendering
• Gaming
• Virtual and augmented reality
Many expect that the #metaverse will be worth $10T to $30T
◆ Metaverse
GPUs will also likely play a key role building the metaverse
In particular, they’re used for:
• Rendering
• Gaming
• Virtual and augmented reality
Many expect that the #metaverse will be worth $10T to $30T
10/
◆ Streaming
GPUs will also be needed to support the rapid increase in video streaming
Their superior processing power enables higher resolutions, more streams and real-time delivery.
◆ Streaming
GPUs will also be needed to support the rapid increase in video streaming
Their superior processing power enables higher resolutions, more streams and real-time delivery.
11/
◆ AI
Perhaps most importantly, GPUs are the primary tool used to create AI
Both Machine and Deep Learning models are trained using GPUs because they can perform large numbers of parallel computations simultaneously
This alone coudl be an $80T+ market!
◆ AI
Perhaps most importantly, GPUs are the primary tool used to create AI
Both Machine and Deep Learning models are trained using GPUs because they can perform large numbers of parallel computations simultaneously
This alone coudl be an $80T+ market!
12/
🔶 The Problem
Unfortunately, there’s a HUGE shortage of GPUs
Amazon, Google and Microsoft simply can’t keep up with the growing demand
🔶 The Problem
Unfortunately, there’s a HUGE shortage of GPUs
Amazon, Google and Microsoft simply can’t keep up with the growing demand
13/
What’s worse?
The GPUs used by the cloud are often only marginally more effective than “consumer grade” GPUs (i.e. the ones we have on our laptops), yet they’re often 10x more expensive
(and for some use cases, such as rendering, enterprise-grade GPUs are actually worse!)
What’s worse?
The GPUs used by the cloud are often only marginally more effective than “consumer grade” GPUs (i.e. the ones we have on our laptops), yet they’re often 10x more expensive
(and for some use cases, such as rendering, enterprise-grade GPUs are actually worse!)
14/
🔶 The Solution
Filecoin has the potential to fix this
It has already built the largest network of CPUs for storage, so it wouldn’t be unrealistic for them to leverage that same network for GPU compute
🔶 The Solution
Filecoin has the potential to fix this
It has already built the largest network of CPUs for storage, so it wouldn’t be unrealistic for them to leverage that same network for GPU compute
15/
This would be a game changer, and open up the protocol to > $100 Trillion in market opportunity!
(making $FIL a project to watch…)
This would be a game changer, and open up the protocol to > $100 Trillion in market opportunity!
(making $FIL a project to watch…)
@rexstjohn 18/
Finally, if you want to dive deeper into the Filecoin protocol itself, including how it works, tokenomics, valuation, etc…, I’d recommend checking out my “mega-thread” on the protocol
Finally, if you want to dive deeper into the Filecoin protocol itself, including how it works, tokenomics, valuation, etc…, I’d recommend checking out my “mega-thread” on the protocol
@rexstjohn That's a wrap!
If you enjoyed this thread:
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1. Follow me @MTorygreen for fundamental analysis of DeFi and Web3 protoocls
2. RT the tweet below to share this thread with your audience
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