Crypto for masses?
As the crypto market keeps booming, it’s seeking more space to grow. However, the entry threshold is a significant obstacle for new markets to be incorporated into the crypto world. Moreover, the unification of real and digital markets needs many transit projects. Projects, which will be available for all users and have enough value both for crypto and non-digital communities.
Why softening the threshold is so important? Imagine bringing a new user into the crypto world. Not only do you need to explain the reason to convert fiat money to crypto, but also you need to help with many processes on exchanges, wallets, and other services. After giving it a little thought we understand that such a problem can be solved by the creation of a new ecosystem that unites all needed utilities or by creating a unification platform for all existing projects, which have already proven effective and gained trust among users.
As a new ecosystem basement — real-world utility projects are a solution. You might have already heard of APE Foundation and STEPN. Both of these projects have limited real-world utilities. Bored Ape Yacht Club as a part of the APE Ecosystem created a closed community with unique rewards and value for owners of exclusive NFTs from its collection. Thus, APE is a project for a crypto user with real-world utility. Whilst, STEPN is based on real-world utility. The main idea is the monetization of your daily steps. Users are able to earn money after purchasing “shoe” NFTs. Hence, STEPN is more likely to bring people into crypto.
APE and STEPN are an illustration of projects, which could serve as doors between the digital and the real world. Nevertheless, all these projects lack interoperability, another vital problem for crypto. Users cannot easily transfer assets throughout the crypto world. And even new users will meet even more barriers between different blockchains. However, this problem is gaining more solutions via bridges and cross-chain technologies.
Public access to the crypto world is a problem that has many sides. Its community keeps growing. But still, it isn’t an option for everybody. There are not many real-world utility projects, yet. The digital world couldn’t offer significant value to the public. But on the other side, new real-world-based projects are rocketing, which is an indicator of the trend of “globalization” of crypto. Moreover, we are observing that dozens of new solutions to inner problems of Web3.0 are emerging every day.