Recently, reports have suggested that crypto is growing at a CAGR of 15.6%. Since this is a good dynamic, we decided to dive into the subject to understand what are the main influencers of such growth. One particularly effective use case of crypto has been found in institutional investments. These refer to rather large-scale investments that companies or organizations make with the capital and resources they have to spare. As an example, Tesla in 2021 announced it was buying Bitcoin worth USD 1.5 billion so it could diversify and get better returns.
Such a move shows how entities are willing to make strategic investments around crypto. But how does this affect the way crypto is adopted by the masses? Let’s find out.
The Evolution of the Online Casino Industry
The online casino side has changed faces since it was introduced as before these places had a simple and limited selection of games to pick from. However, technological advancements and gamer preferences have evolved and with it, the online casino industry has erupted.
Some notable milestones here that are worth highlighting are mobile gaming for starters, as the availability of smart devices that fit in our pockets gives access to all our games instantly. Another one is the launch of live dealer games which are streamed in real time so we get a feeling of authenticity.
And now, of course, crypto and blockchain technology have been accepted into this industry as many turn to accepting it as a payment method. The reason is simple: faster transactions, lower charges, and more security. As an example, if you check out the Ignition Casino online platform, which is one of the most famous gaming websites, you will see the role of crypto as a payment method. But beyond that, pay attention to the continuous growth of the gaming offers on the platform. The special category called “New Games” shows how modern casino websites evolve by offering progressively developing options to their players.
When an industry as big as the online casino starts seeing crypto as a valuable resource, it’s only a matter of time before others and everyday people do so as well.
DeFi Revolution
DeFi uses blockchain tech to deliver financial services and excludes any middlemen in the process so anyone can lend, borrow, trade, and invest directly.
While decentralized finance has advantages to offer everyone, lately institutional capital has been spotted in this field. According to data, it’s been shown that large institutional transactions valued at greater than $10 million made up over 60% of all DeFi transactions.
The reason investors have turned to this is because there is enhanced liquidity to be enjoyed, meaning DeFi platforms provide open access to different types of liquidity pools. Also, there is improved transparency thanks to the blockchain technology in play. Perhaps the most compelling reason is that since intermediaries are eliminated, cost savings can be seen.
As investors move into the ecosystem, the common folk follow and new financial protocols are built. This certainly helps the masses adopt and adapt to crypto.
Crypto Meets E-Commerce
A major usage of crypto has been witnessed in e-commerce where it has offered new avenues for transactions. These transactions are speedily processed, more secure, and accessible, all features appealing to both consumers and retailers. With this, more and more e-commerce companies are turning to accept crypto as a viable payment method and a 2024 survey found 37% of vendors in the US accept it.
From this, we gather that entities are recognizing the existence of these digital coins and plan to allow them to be used for online transactions. Since the whole thing is backed by blockchain, institutions are also investing in this aspect which further generates interest and adoption.
NFTs and Beyond
Non-Fungible Tokens were a big hit amongst crypto enthusiasts as they offered a chance to hold unique digital assets for investment purposes. Companies and organizations acknowledged these as viable options for profitable ventures.
By purchasing these tokens, companies could diversify their portfolios and branch out in developing areas. Additionally, they integrate with DeFi and can be used for loan and fractional ownership purposes. With this, the average consumer sees a chance to hold previously out-of-reach assets as well and so crypto adoption has boomed.