Cryptocurrencies are no longer a strange part of the internet that no one really knows much about. They have been around for over a decade at this point, and more and more people are intrigued by what they are able to offer. Will 2022 prove to be a turning point in terms of how they are accepted? Let’s take a closer look at their current position and how things might change in the coming year!
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Moving Mainstream
There is no denying that cryptocurrencies are steadily becoming more and more mainstream. Once upon a time, they were very much part of the internet that not a lot of people engaged with. Though it was seemingly quite easy to get your hands on cryptocurrencies, no one really knew what to do with them except to hold on to them.
On top of this, the markets could change so rapidly that it became difficult to know precisely when a good time to jump into the world of crypto might be. Those who were aware of stocks and other fast-moving markets might have some idea about how much cryptocurrencies can fluctuate by. For a newcomer to the markets, it might have seemed like a difficult area to break into.
However, there is no doubting that cryptocurrencies have moved to become ever more mainstream. In particular, as we create wider online communities, there is even a metaverse crypto that can be used in a wide variety of places across the internet. From trade to shopping and more, there is no denying that cryptocurrencies are now part of mainstream internet life – even if many of us still are not using them in numbers most would expect.
The Rise of NFTs
One part of NFTs that received a larger boom than anyone might have expected is that of NFTs. Non-fungible tokens are unique ways of tracking art and other valuable goods, and they have proven to be incredibly popular in the last year. NFTs have been created for everything from artwork to internet memes and more. They have proven to be one of the most successful parts of cryptocurrency trading simply because it is relatively easy to purchase and buy NFTs.
With the creation and sale of NFTs has come a lot of criticism. One of the main issues that has been seen a lot has come from a misunderstanding of how the system works. Many think that there is nothing to stop someone from copying the NFT and making money off the copy’s sale. However, if you buy a print of the Mona Lisa in real life, does that mean that you now own the Mona Lisa? Of course it doesn’t. The same principle can be applied to owning NFTs.
For this reason, they are the perfect introduction to the world of crypto. They teach how records on the blockchain work, and how trades function when dealing with cryptocurrency. Someone might be very comfortable holding NFTs without ever diving into full cryptocurrency trading. On top of this, many football clubs and other groups are introducing NFTs and other tokens as a way of allowing fans to have an influence over things in their clubs. This could have the result of attracting interest from those who never would have been interested in crypto otherwise.
What to Expect in the Future
2022 should be an interesting year for crypto. The rise and success of NFTs in 2021 has laid some fantastic foundations to be followed up here. It is likely that we will see many people buy their first NFT this year, whether it is a serious investment that will be the start of a portfolio or just something that they buy to try out something new.
We are likely to also see support for NFTs come across more platforms than just through sports clubs. Some musicians have already begun to dabble in the creation of NFTs. It is likely that we will see this area develop further, and spread across other parts of the Arts too. Being able to buy NFTs linked to our favourite films and franchises could help to deepen the connection that we share with them. It is again a way to interest people in the world of NFTs who otherwise might pass them by.
There is no denying that interest in cryptocurrencies is growing by the year. While this was once thought to be a very niche part of the internet, they are becoming more readily available for people to invest in. It might have once been bizarre to think about any sort of crypto token being connected to a Premier League football club, and yet that is now a reality that we can indulge in if we choose. While we can still operate on the internet without touching crypto if we so choose, it is certainly easier than ever before to jump in and try it out if we want to. As it makes the change between niche and mainstream and continues down this path in 2022, this is the perfect opportunity to find out exactly what cryptocurrencies and NFTs could offer you.
