The march towards mass adoption of blockchain and cryptocurrency in 2021 has made great strides as the emergence of decentralized finance (DeFi) and non-perishable tokens (NFT) drove cryptocurrency into the spotlight of mainstream media on a daily basis.
From the rise in popularity of meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) to the huge popularity of the game-for-profit model and popular protocols like Axie Infinity, 2021 was dedicated to showcasing the world’s revenue potential. exists in the world. cryptocurrency ecosystem.
And this is not just an ordinary Joe and Jane message suggesting that the mass adoption of cryptocurrency is approaching us, as several major events in finance and popular culture show that blockchain technology is gradually becoming a mainstay of the global community.
Here are some of the most important events in 2021 that indicate the massive use of cryptocurrencies.
Huge promotional offers are making headlines
One of the most important signs of mass adoption in 2021 has been an increase in the number of major endorsements and partnerships between cryptocurrency-related companies and other large organizations such as sports teams and professional sports organizations, as well as well-known celebrities and influencers.
Crypto.com recently shocked the world by announcing a 20-year naming rights deal with leading sports and entertainment company AEG to rename Los Angeles’ Staples Center to Crypto.com Arena.
As part of the $ 700 million deal, Crypto.com will team up with the Los Angeles Lakers and Los Angeles Kings to become the “official crypto platform partner” for the popular sports franchise.
The name deal on Crypto.com follows a similar move earlier this year by cryptocurrency exchange FTX, which signed a $ 135 million 19-year deal with Miami-Dade County to rename its main Miami Heat stadium FTX Arena by 2040.
Aside from major multi-million dollar approval agreements, there have been a number of other cryptocurrency-related endorsements, including a sponsorship agreement between Coinbase and the National Basketball Association and a partnership between the New York Digital Investment Group and the Houston Rockets that will see the investment. the company pays out the Bitcoin (BTC) privilege.
Major brands embrace the NFT culture
Another sign of mass adoption is the adoption of the NFT culture by globally recognized brands such as McDonald’s and Burger King, which want to leverage the popularity of the fast-growing cryptographic sub-sector as a way to interact with their customers.
Despite widespread harassment of cryptocurrencies in China, McDonald’s China launched its “Big Mac Rubik’s Cube” line of NFTs on October 8 to celebrate the company’s 31st anniversary of entering the Chinese market, distributing a batch of 188 NFTs to employees and customers as part of a donation.
In September, Burger King launched an NFT-focused marketing campaign called “Keep It Real Meals”, where buyers could scan a QR code that came with the food to receive one of three collectibles in the game. Players who have collected all three game pieces can exchange them for digital collectibles as a reward, a general inventory of burgers, or a call from a famous celebrity to participate in a promotion.
All of this emphasis on NFT from major brands and companies comes at a time of growing public interest in NFT, as evidenced by Google Trends data, which shows that NFT-related searches are at an all-time high, and are now surpassing NFT search for such terms as “DeFi”, “Ethereum” and “blockchain”.
TV viewers are also increasingly confronted with advertising-related cryptocurrencies with high-profile representatives, including actor Matt Damon and NFL quarterback Tom Brady.
Related topics: NFT sales boom, but ownership is too focused
Finally, traditional finance has taken over Bitcoin
The third event indicates that the massive use of cryptocurrency is about to incorporate cryptocurrency-related projects in important economic calculations, the biggest example being the launch of ProShares Bitcoin Exchange Traded Strategy Fund (BITO), the first Bitcoin-related ETF to be allowed in the US the market.
The launch of BITO was soon followed by the launch of the VanEck Bitcoin ETF (XBTF) strategy, indicating that the US Securities and Exchange Commission is quietly supporting Bitcoin futures ETFs at this stage, but is not yet ready to let Bitcoin ETFs evolve. Something that may not happen until 2022 or later.
2021 also saw significant integration of blockchain technology with the broader financial sector as the main processing network pl.