Wizzard Blizzard Predicts Impending Economic Depression

WizzardBlizzard Cosmic Universe — *One of the wizards featured on “WizzardBlizzard’s” game, Cosmic Universe*

The developer of cryptocurrency game Cosmic Universe bleakly predicted that the global economy would enter into depression by 2023, saying it would come with a “major restructuring of the global paradigm” and financial markets.

Wizzard Blizzard, an anonymous GameFi developer whose yet-to-be-launched project reached a market capitalization north of $50 million in January, made the prediction in his project’s channel on Discord, a chat service.

“We’re in unprecedented times for crypto, and the world,” the developer wrote. “Recession will likely be officially announced soon and then a small bailout package will be devised prior to the November elections in the US, passing by a narrow majority, resulting in a temporary boost in the traditional and crypto markets until sometime into 2023, followed by a major defeat of the incumbent party in said elections, and then finally a Depression, which will find its low point in 2025 prior to the dawn of a new day, when a major restructuring of the global paradigm and financial matrix will begin to be apparent as it will accelerate.”

He added:

Bitcoin halvening will occur in the first half of 2024, and if the previous halvening is anything to go by, the price wont really reflect the new mining difficult for half a year. Full-blown bull market is likely to return in 2025, but it will be different than previous bull markets. It is likely to be much longer and more sustainable growth. Another perspective is that the crypto market has decoupled from the stock market, due to institutional investors picking up cheap stocks that [got] rekt over this past year, signaling they believe the bottom is in on the market side for now, so crypto is likely to follow, at least until around the end of the year.

The anonymous dev, who also goes by the shorthand of “WizzBlizz,” claims in a bio on Cosmic Universe’s website that his crypto credentials include participating in the original Ethereum DAO. His game briefly surged to its enormous market cap just two months after launching in November, despite the fact that it isn’t scheduled to launch until later in the year. As of this week, the project’s market cap sat at slightly less than $2 million.

His prediction echoed similar sentiments expressed by others in the industry who have suggested that many of the nearly 20,000 digital currencies presently in existence are likely to collapse in the wake of an economic meltdown. “We’re at the stage where basically there are far too many blockchains out there, too many tokens,” Web3 Foundation CEO Bertrand Perez said in an interview at the World Economic Forum in Davos, Switzerland in May. “And that’s confusing users. And that’s also bringing some risks for the users.”

Speaking separately, Ripple CEO Brad Garlinghouse said, “I think there’s a question about whether or not we need 19,000 new currencies today. In the fiat world, there’s maybe 180 currencies.”

SpaceX and Tesla CEO Elon Musk, meanwhile, said on Thursday that he had a “super bad feeling” about the economy, while JPMorgan Chase CEO Jamie Dimon said he believed an economic “hurricane” was coming.

WizzBlizz advised his community to prepare not only by stocking up on cryptocurrency, but by buying precious metals and “arable land.”

“Wizard Suggestions: Stocking up on cheap coins of projects building something innovative that will survive and thrive throughout all of this could be a prudent decision,” he wrote. “As well as gold, silver, seeds, arable land, and friends who are a solid support system. Consider having other income sources besides crypto that act as more stable hedges against the extreme volatility.”