Dan Schatt and Domenic Carosa, fintech veterans at Earnity, a social-first crypto platform and marketplace, believe that crypto should be accessible to a lot more people. After all, the financial instrument’s benefits are far-reaching and can help users achieve their financial goals. However, it must be noted that the world is still miles away from the wide-scale adoption of cryptocurrency. Even so, there are signs that its mass adoption is underway.
The most obvious indicator is the rising engagement from the average Joe and Jane in various famous and lesser-known cryptocurrencies or decentralized finance (DeFi) protocols. Some examples of these are meme coins, such as Dogecoin and Shiba Inu. These tokens began as jokes, but they rose in popularity. Their market capitalizations even reached tens of billions of dollars. In addition, the emergence of protocols like Axie Infinity has also demonstrated that blockchain technology is gradually becoming a mainstay globally.
Embracing the Crypto Culture
Another sign that cryptocurrency is becoming more and more accepted is the surge of endorsement deals and partnership agreements between crypto firms and other companies or organizations.
For instance, the NBA’s marquee franchise, the Los Angeles Lakers, shocked the sports world in 2021 when they announced that they are renaming their iconic home arena from Staples Center to Crypto.com Arena. Meanwhile, Earnity, under the leadership of Dan Schatt and Domenic Carosa, will be featured on the racecar of Ed Carpenter Racing driver Conor Daly for the 2022 season NTT IndyCar Series.
Even major brands and traditional financial systems are embracing the crypto culture. For example, fast-food chains McDonald’s and Burger King launched their own NFTs, leading to countless people searching for NFT-related phrases online. Meanwhile, a major U.S. bank, Morgan Stanley, and payment processing networks, Visa and Mastercard, have begun to allow crypto holders to transact using their tokens.
With all these developments, it seems like it is only a matter of time before the world sees a mainstream adoption of cryptocurrency.