We’ve seen massive changes in the world of crypto in recent years. The landscape of the industry is constantly changing, one moment Defi is the next big thing, and then NFTs supplant it as the latest craze. Unfortunately as the crypto industry changes and expands, many people have been left behind in the dust.
The fact is, many people just don’t have the technological know-how to make moves in the crypto industry. From an outsider’s perspective, it’s easy to see how one could get caught up among the dozens of different cryptocurrencies and dozens of different wallets. Many in the crypto industry are now realizing that a unified solution may be the answer.
The Democratization of Crypto
Everyone knows how the creation of easy-to-use stock trading apps like Robinhood have permanently altered the way people invest. These apps shifted the power of investing further into the hands of ordinary people, rather than the stuffy Wall Street investors that made up the traditional stock market demographic. Could the crypto industry have a similar revolution? Could mobile apps be the future of crypto?
Portto, a rising startup in the crypto industry, seems to think so. They have developed what seems to be one of the most comprehensive crypto apps we’ve yet seen, called Blocto. What makes Blocto unique is its cross-chain functionality. Users can interact with multiple different blockchains within the Blocto app, without having to download multiple different crypto wallets.
Many crypto wallets tend to be unintuitive for those with little experience in the crypto industry. Billions of people across the globe, however, have experience with smartphones. As such, crypto mobile apps like Blocto will be immediately intuitive to those who have used a smartphone app in the past.
As previously mentioned, NFTs are the latest crypto craze, and have created massive news headlines, like the NFT artwork which sold for $69 million, or the tokenization of the first ever tweet, which sold for over $2.9 million. These headlines are bound to draw in more people, who will be inevitably pushed away when they come face to face with the complexity of the crypto industry.
It’s not just those who want to invest in art however. Sports fans have been drawn into the crypto sphere recently in unique ways. The nature of NFTs means that they are a perfect form of digital collectible, which means they can be used in sports memorabilia. NFT sports collectible dApps have sprung up recently, like the famous NBA Top Shot, as well as Tom Brady’s recently announced NFT platform. These new forms of memorabilia, along with news stories like the recent NY Giants sponsorship deal with Grayscale investments, are drawing more eyes from the sports crowd, but without an easy place to get into crypto, these fans will be left scratching their heads.
Portto’s Block provides a space where the unfamiliar can buy and trade not just cryptocurrencies, but crypto and dapp assets too. This kind of easy entrance to the world of crypto, that allows people to trade cryptocurrencies, and take part in the latest crypto trends at the same time can be an invaluable way to onboard newcomers.
It’s incredibly important to bring crypto solutions like these to ordinary consumers. If we want crypto to stay in the mainstream, and not be phased out like many forms of technology before it, there needs to be solutions that make it easier and more inclusive. As more and more people are brought into the crypto industry, there will be greater innovation.
Apps like Blocto aren’t just useful ways to onboard more people, they are imperative to the survival of the crypto industry as a whole. News stories about the crypto industry have continued to draw more attention, but if there are not simple ways for people to get into crypto after their interest is drawn, these headlines will remain just that – headlines.