The headlines on the crypto news sites tend to tell the story. It is interesting to watch how they change over time.
We know that 2021 was going to be an exceptional year in the cryptocurrency industry and it is not failing us. There is so much taking place that we are now in an industry that is exploding.
The most notable viewpoint is that institutions keep buying cryptocurrency. In a tweet, it was revealed that Grayscale added $2.4 billion to its crypto holdings in just 3 days. This is an enormous growth rate.
That is more than we see locked in DeFi according to defipulse.com.
We also see universities getting into the game. These institutions often have large endowment funds. To show how much money there is, Harvard's fund is close to $40 billion. That pays for a lot of text books.
Now, some universities are allocating a portion of their funds to crypto.
Harvard, Yale, Brown and University of Michigan have been accumulating cryptocurrencies, among others, according to a CoinDesk report.
Then we have Enjin. They are now entering the Augmented Reality world by teaming up with MetaverseME to create NFTs for clothing items for Metaverse avatars.
In addition to visualizing the collection in the MetaverseMe app, the NFTs and their underlying items will be available in other virtual worlds that are part of the metaverse — Enjin’s initiative to connect separate videogames into a collective virtual universe. These include Atari’s intellectual property like the rebooted classic “Kick Off,” as well as Minecraft, thanks to Enjin’s plug-in.
Over the past week, I put together a number of posts and videos about the metaverse and how big that is going to be. It is not surprising to see some gaming platforms looking to get involved using NFTs and other crypto. It is an area that is going to be huge.
We are suddenly seeing how quickly innovation can move when people are left to do what they do best. In the present system, regulations and corporate bottlenecks slow things down. That is not present at this time in crypto. Instead, individuals are able to create without much hassle, which is now turning into a great deal that is rolling out.
Of course, we still are in the very early stages. The next couple years, left unimpeded will result is explosive growth and development. The signs are already there.
All of this is increasing the viability of cryptocurrency and blockchain. As more companies take a look at it, the development will keep expanding. This is what will ultimately bring the large number of users in.
Projects that are correctly positioned for the advancements that are starting to take place will provide enormous windfalls for its users. Since we are seeing a merging of the user base and ownership, the financial benefits will be spread out much wider than they are now.
For a few years, I wrote how cryptocurrency is the key to solving a multitude of our societal problems. One of the biggest topics for discussion is income (and wealth) inequality. Governments, academics, and think tanks are all trying to come up with ideas.
Of course, the solution is just mass adoption of cryptocurrency. As more people get involved with the tokenization process, and user bases increase, their payouts will be worth more. This is happening all across the crypto-sphere.
Those in the poorest of regions would benefit first. Since their barrier is much lower, a small payout has a significant impact. Again, over time, these will increase as more wealth is accumulated by individuals in those countries.
The more developed countries have a higher level before much impact is seen. However, as the entire realm of digital assets expands, we see a lot of potential for billions to eventually be "earning a living wage" off their crypto activities. This will go a long way to solving the income/wealth issue that most discuss but never do anything about.
Each new advancement puts us one step closer to our ultimate destination. Daily, new announcements come out bringing something else to market. This is happening across the world, on many different platforms. With such incredible development, the growth rates in terms of users is guaranteed to follow.
This is one of those situations where the world is literally changing before our eyes and we have a front row seat for it. As more jump into the industry, we will look at these past few years as the slow stage. Things are going to speed up a great deal more. The exponential nature of all that is taking place means that wherever we are now, we will be an order of magnitude further along in a few years.
A couple years ago I wrote how everyone will be involved in crypto, sooner or later. For many, later is the time period they will arrive in. There are millions who showed up but left. Those too, will feel the regret of that decision. Early adopters tend to benefit more than those who arrive at a later date. Certainly, there are still huge opportunities, as we see put forth by the Internet. However, the early stages of that technology are long gone.
Those who understand where we are at and, more importantly, where all of this is going will be along for a wild ride. Bull markets are fun yet the technological explosion is even more exciting. The applications that we will be using in a few years as compared to today will be amazing.
Hang on kids, things are starting to get very interesting.
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