According to Anker’s Philippe Gonsalves, mainstream digital asset adoption is not only close, it’s already here.
Enterprises are already deep into digital assets. As many companies wait for government regulation and clarity on blockchain-based investments and activities, many have moved on.
Brand already committed
Companies marketing in Sandbox and Decentraland include Netflix, Dolce & Gabbana, Tommy Hilfiger, TIME, Binance, LookRare, Rarible, FTX, Gemini, the Smurfs and more. Tommy Hilfiger and Dolce & Gabbana both attended Decentraland’s first Metaverse Fashion Week. Netflix entered the Decentraland metaverse to advertise the release of a new film. Samsung opened its own metaverse in Decentraland.
TIME has released the NFT archive and made a headfirst dive into the blockchain space. The sandbox land was purchased by TIME magazine, Binance, FTX, LookRare, Rarible, Gemini, the Smurfs and several additional companies. Sandbox land, similar to Decentraland, can be bought and traded or built and rented on it. Many companies are buying land and offering free virtual experiences.
Mainstream adoption and brands
Budweiser, Tiffanys and Nike have all entered the digital asset space in full force. Budweiser previously dropped several different collections around its infamous beer. One such collection came with the Live BBQ event on Budweiser. NFT was the gateway to offering tickets to meet Clydesdale horses, live music, brewery tours and more.
Tiffany’s recently sold NFTs with custom diamond pendants. These were sold for 30ETH and could be burned for physical defeat. Purchase restricted to Cryptopunk holders only, these necklaces sold out very quickly and represent the first major NFT/physical pairing of a product.
Nike has released the NFT and has actually acquired the NFT Metaverse Shoe Company. The company has generated approximately $200 million between primary and secondary sales. Secondary sales come from royalty fees on sneakers being traded in the secondary market, something companies previously had no control over.
public companies holding crypto
It’s not just NFTs that brands prefer. Public companies now holding cryptocurrency include mining companies such as Hut8, cryptocurrency exchanges such as Coinbase, and disruptive thinkers such as Michael Sailor and Microstrategy. Each of these public companies holds bitcoin and potentially other digital assets. Public companies holding digital assets are a good sign for the future of the industry.
Mainstream Adoption and DeFi
Decentralized finance, or DeFi, provides excellent opportunities for institutions and businesses of all sizes to get involved. The demand for institutions entering the digital asset space is evident as new funds are coming in and more financial institutions begin to accept the asset class.
We recently saw BlackRock, the world’s largest asset manager, partnering with Coinbase to offer digital asset services to its institutional clients. BlackRock has over ten trillion dollars under management. They now offer bitcoin services to institutional clients and accredited investors.
Grayscale Bitcoin Trust (GBTC) was the first bitcoin-related fund available to institutional investors within the US. Grayscale, the company behind the ETF, wanted to offer exposure to the digital asset while it was very unpopular. Since then, others have opened digital asset funds to institutional investors.
Mainstream adoption and credit cards
Most recently, blockchain company Anker has partnered with both Mastercard and the Sacramento Kings NBA team. Mastercard is only the latest financial institution to enter the industry to join the blockchain space.
SoFi, one of the fastest growing institutions in the US, has started offering digital asset services including trading and education.
Due to the high demand, institutional investors have started offering digital asset services to their clients.
These new funds popping up help to give credibility and popularity to digital assets. Credibility comes from the world’s most renowned asset managers and wealth creators, integrating digital assets and adapting to demand. The increased popularity comes with every financial media platform announcing that the wealthy can now easily invest in cryptocurrencies.
Mainstream Adoption and DeFi Opportunities
Staking, lending and liquidity all offer new opportunities for anyone to take advantage of in the digital asset space. DeFi includes decentralized dApps on a blockchain regularly used for financial services or products.
Staking is when you lock cryptocurrencies for a specific period of time in exchange for a specific interest rate. The interest rate often comes from gas or network fees and bets can help secure the network or validate transactions. Liquidity is similar, where users can often provide liquidity on a decentralized exchange or marketplace, and be rewarded.
Lending and lending are also growing in popularity on the DeFi platform, allowing users to hold their tokens as collateral and access capital without having to sell assets. The lender is rewarded with a fixed interest rate, which is facilitated through the DeFi platform. The borrower has to repay the loan and interest and is rewarded in an extremely quick and easy way to secure the loan.
The opportunities present in DeFi to generate additional revenue for retail and venture investors are massive. Some platforms exceed the double-digit APY, far better than the average savings account.
Mainstream adoption happening
Adoption is happening faster than anyone could have imagined. This is while regulation is still coming but that is not stopping it from happening too quickly. For brands like this, and opportunities like this, there are plenty of beneficial reasons not to explore and implement technology. These companies are proving business use cases for innovative technology.
About the Author
Filip Goncalves has been leading the Points Liquid Staking Offering and Points DeFi strategy since 2021. Prior to joining Anker, Philip worked for eight years as a wealth manager at UBS, Credit Suisse and BNB Paribas in Switzerland. His deep understanding of the full range of financial product offerings for ultra high net worth individuals, and his experience working with developers and product managers at DeFi, is the perfect set of skills to lead DeFi projects that aim to achieve high levels of productivity. democratize access to products with financial complexity. ,
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