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While many governments are panicking about how they will deal with the inevitable global adoption of cryptocurrencies, many businesses are making carefully calculated moves in this domain to offer their clients more products and services paid for with crypto coins. The trend became clear in 2022 when the whole crypto community was taken aback by the crashing market and bankruptcy of several notable companies in the crypto industry.
Corporations are interested in NFTs
However, we also had many positive stories about companies like Nike and FIFA using their NFT-based loyalty programs successfully despite the talks about the dying NFT market. Yes, the vast majority of NFT projects were scams and destined-to-fail artworks that would have gotten any traction anyway, but companies that were interested in providing the true utility with their tokenized loyalty programs saw great results and earned solid profits by releasing their novelty products targeting the crypto community.
We are also seeing how many social media platforms are making huge strides toward implementing various blockchain elements in their infrastructures and looking into ways to start using cryptocurrency payments as ways to monetize some of their products. Meta, Disney, Coca-Cola, and even Starbucks are partnering with Polygon to begin rolling out their platforms on layer 2 of the Ethereum network.
It seems that massive international corporations are embracing the shift toward web3 and increasing their investments despite the crypto winter that has been devastating crypto markets across the globe. BlackRock and JPMorgan as well as many other fund management companies entering the industry also boosted the growth of crypto assets with Bitcoin finally stabilizing over the $22K support level.
The influx of investments is coming
We also had a very positive news story about Fidelity providing access to crypto assets to over 34 million of their retail traders. This move alone should significantly increase the daily trading volume and allow the Bulls to make another run at the end of 2022 or in the first quarter of 2023.
We have so many promising developments that the whole idea of the crypto market crashing completely is starting to look completely outlandish. The crypto community is very close to the first phase of global adoption.
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