The march to mass adoption of cryptocurrencies and blockchain has made significant strides in 2021 as the development of decentralized finance (DeFi) and non-distributed tokens (NFTs) push cryptocurrencies into the mainstream of everyday media.
From the rise of memes like Dogecoin (DOGE) and Shiba Inu (SHIB) to the disruptive popularity of monetization game models and popular protocols like Axie Infinity, 2021 has brought the world the world’s ecosystem.
And it is not just the participation of the average Joe and Jane that suggests that the mass adoption of cryptocurrencies is due to the fact that we have many long-term developments in finance and popular culture that blockchain technology is gradually becoming a mainstay in of global society will.
Here are some of the key developments in 2021 that show that mass adoption of crypto will continue.
Massive advertising deals are making headlines in the mainstream media
One of the main signs of mass adoption in 2021 is an increase in key advertising and partnership agreements between crypto-related companies and other large institutions, such as sports teams and professional sports organizations, as well as celebrities and influencers.
Most recently, Crypto.com shocked the world when it announced the signing of a 20-year naming rights agreement with leading sports and entertainment company AEG at the Staples Center in Los Angeles in Crypto. .com arena.
We are very proud to announce that the Staples Center, the most famous arena in Los Angeles, is getting a new name:
– Crypto.com (@cryptocom) November 17, 2021
As part of the $ 700 million deal, Crypto.com will partner with the Los Angeles Lakers and Los Angeles Kings to become the “official crypto platform partner” for the popular sports franchises.
This naming deal for Crypto.com follows a similar move earlier this year by the FTX crypto exchange, which signed a 19-year $ 135 million deal with Miami-Dade County to rename the Miami Heat home stadium the FTX Arena by 2040 .
Aside from those massive multi-year multi-million dollar promotional transactions, there are a variety of other crypto-related endorsements including a sponsorship deal between Coinbase and the National Basketball Association and the partnership between the New York Digital Investment Team and the Houston Rockets in which the Investment firm will pay their franchise in Bitcoin (BTC).
Big brands are adopting the NFT culture
Another sign of mass adoption is the acceptance of the NFT culture by globally recognized brands like McDonald’s and Burger King, which aim to harness the popularity of the rapidly growing cryptocurrency subsector to interact with their customers.
I will present the most important NFTs to you. RT for a chance at one of ten exclusive prizes #McRibNFT
noiseless. was not determined. 50 US / DC, 18+ only. The winner will need a crypto wallet to receive NFT. Rules: https://t.co/2QRhsPlpur pic.twitter.com/KYmWI67PhG
– McDonalds (@McDonalds) November 1, 2021
Despite the widespread crackdown on cryptocurrencies in China, McDonald’s China launched the Big Mac Rubik’s Cube NFT line on October 8th.
In September, Burger King launched an NFT-focused marketing campaign called “Keep It True Meals,” which gave customers the option to scan a QR code that came with their meal to receive one of three collecting games. Players who have collected all three tokens can exchange them as a reward for a digital collector’s item, a burger offer for a year or a call to one of the campaign’s prominent supporters.
All of this focus on NFTs from big brands and companies comes at a time when public interest in NFT is growing, as data from Google Trends shows that searches for NFT-related terms are at a record high, as is the case with NFT inquiries was the case now outperforming searches for terms such as “DeFi”, “Ethereum” and “Blockchain”.
TV viewers are also increasingly exposed to crypto-related advertisements starring prominent speakers such as actor Matt Damon and National Football League defender Tom Brady.
Related: NFT sales boom, but ownership is heavily centralized
Traditional finances are finally accepting bitcoin
A third development that indicates that the mainstream adoption of cryptocurrencies is underway is the integration of crypto-related projects into the mainstream financial sector, the biggest example being the development of cryptocurrencies), the first to be allowed in the US market Bitcoin-related ETF.
The launch of BITO was quickly followed by the launch of the VanEck Bitcoin System ETF (XBTF), suggesting that the U.S. Securities and Exchange Commission is currently approving a Bitcoin futures ETF but is not yet ready to approve a Bitcoin ETF locally, one Development that may not happen before 2022 or later.
There has also been a significant integration of blockchain technology into the broader financial sector in 2021 as large payment processing networks such as Visa and Mastercard have made many transactions in the crypto industry to allow cryptocurrency holders to use their tokens for payments.
Many influential crypto-focused companies, including the aforementioned Crypto.com as well as BlockFi and Coinbase, use the Visa network to operate their debit and credit card systems, while Mastercard has already worked with the digital asset platform Bakkt and also laid the foundation to eventually support banking has digital currency center (CBDC).
The fact that many central banks around the world have announced that they are studying or developing their own CBDCs is evidence of the inevitable integration and mass adoption of blockchain technology in the financial ecosystem.
While it is likely that the crypto market as a whole will continue to boom and bust, as all markets do from time to time, crypto owners should rest easy knowing that the long term path of blockchain technology is in The direction of widespread acceptance and integration is going in many aspects of our daily life, as the Web of Things and the 3. Net are constantly evolving.