Cryptocurrency is a major part of today’s financial market. Although majorly online, blockchain infrastructure is shifting to offline avenues as well. But what can crypto be used for outside of digital spaces right now?? Well, digital tokens can be exchanged for real, fiat currency. Other than the financial value of these tokens, they also come with an additional utility. Let us look at some applications of crypto projects that do not require the liquidation of a token. These applications range from crypto credit cards planned by projects like Xchange Monster (MXCH) to real-world events such as LCD Soundsystems’ ApeFest performance to big brands like Gucci accepting Dogecoin (DOGE).
Brands Embrace Crypto as They Make Metaverse Representations of Their Products
Corporations’ response to an idea can be a noteworthy indicator of how well it has been accepted by society. If one looks at the majority of brand social media accounts, one sees that memes have become a part of contemporary vernacular, as brands routinely post them to engage with their audiences. Crypto has experienced a similar trend.
Brands have embraced crypto in two ways. In summer 2021, many brands took advantage of the NFT craze by making NFTs of many of their popular products. Those ads made it clear that brands understood crypto and its potential, signaling to audiences that crypto was no longer a niche interest. Consider high fashion brand Gucci, which accepts Dogecoin (DOGE) and other crypto tokens as a form of payment.
There was an announcement earlier this year that certain Gucci stores in the US would be accepting cryptocurrency as a legitimate form of payment, including meme tokens Dogecoin (DOGE) and Shiba Inu (SHIB). As a world-renowned brand, Gucci’s adoption of crypto can be seen as a big indicator of crypto’s future- the fact that cryptocurrency will become a form of international tender, and can be used to make purchases as fiat currency is today. For now, however, that future remains out of reach.
BoredApe NFT Owners & Community Meet-Up at ApeFest
Due to the emphasis crypto spaces place on community, meetings of crypto enthusiasts in real-life settings are not surprising, and yet another example of how crypto interacts and integrates with the physical world today. Consider ApeFest, where Bored Ape NFT owners converge in a physical, real-world space to interact, play games, and revel in their shared affection for their NFTs. Bringing a digital community to life, ApeFest provides an opportunity for individuals to meet, form friendships, and create memories together. And what’s more valuable than that?
Xchange Monster Exchange Crypto Credit/Debit Card Enable Token Payments
Making physical credit and debit cards connected to an individual’s crypto wallet is not a new concept, but as crypto wallet technology develops, so does the possibility of such physical cards. Consider the Xchange Monster (MXCH) Monster Wallet and its planned physical card variation. Xchange Monster’s Monster Wallet (MXCH) is a multi-chain, multi-asset wallet. This means it can hold a variety of crypto assets, from NFTs to tokens, to gaming rewards earned on the platform and fiat currency. All of these assets can be traded and exchanged on the platform, which allows for a fast-moving and rewarding economy.
With a physical card, centralized banks wouldn’t have to be involved, and instead the NFT artist could make purchases directly from their Monster Wallet. This, combined with the fast speed of transfers on Xchange Monster (MXCH), means that $20 could be spent on something physical in just a short time after it was purchased. As this is still an aspect in development, but a very promising one, we recommend that you keep an eye on Xchange Monster (MXCH) in the future.