HOW IS CRYPTO ATTRACTING BIG CONSUMER BRANDS?

by | Jun 30, 2022 | Market, News | 0 comments

Cryptocurrency drastically changed the whole world. Many countries are started adopting crypto for their future growth. It not only affects only the financial sector but also every sector benefits by adopting it. If we focus on past years of crypto nobody believed that it can reach its highest peak in the upcoming future. This is not making only the financial sector grow but also it is making the world a better place to live.

Cryptocurrency is a type of currency that stores money digitally and with the help of blockchain technology it is a more secure and efficient way of storing data, every user can see it without any editing as the blockchain tool recheck the data with other nodes and make it visible if the fault is there. Cryptocurrency provides a revolutionary change in the financial sector.

Many consumer brands are now ready to welcome crypto as it provides enormous opportunities to growing industries whether for payment in crypto, making the transfer of money safer, reducing the risk of fraud, and many more exciting benefits. 2021 is one of the best years for the crypto world, some unexpected consumer brands are entering this sector.

Let’s explore different consumer companies that are entering the crypto world.

TESLA BUYING IN BITCOIN

This is the big news for every tesla fan that they are buying in bitcoin and crypto investors are now interested in space. In February Elon Musk revealed that the company invested a huge amount of 1.5 billion dollars in bitcoin, after the news get viral bitcoin prices skyrocketed. Bitcoin prices rise from $38,000 to $57,000 which is huge. This sets an example for many growing companies.

DALLAS MAVERICKS

Not only does tesla shock the world by buying bitcoin but also Mark Cuban’s following the same path by allowing fans of the NBA franchise to buy tickets in dogecoin which is also a popular meme currency. He also claimed that in the coming future it would be the biggest tech resolution.

NIKE IS A NEW PLAYER IN METAVERSE

Nike make its debut in December by entering the field of the metaverse. After the partnership with RTFKT, it is one of the leading producers of athletic-based goods in the united states and also the number one brand to enter the metaverse. According to Nike’s CEO john Donahoe this decision, it will lead to the company’s another level of hikes.

WHY WAS ADIDAS LEFT BEHIND?

In the battle of crypto where every company is competing with one another then why should Adidas be left behind. Adidas also entering the world of the metaverse by collaborating with different NFT projects like Gmoney, Punks comic, and bored ape. This will provide Adidas with another level of growth in the coming future.

CLINIQUE WORKS WITH NFT PROGRAMS

For any company, customer loyalty is a very important aspect of sustaining in the market. Clinique is a cosmetic brand that helps to increase customer loyalty by collaborating with NFT which provides loyal customers some amazing benefits. This brand encourages customers to upload their product experience on tik tok and other platforms like Instagram which in return gives them attractive rewards.

COCO-COLA IS ALSO TURNING HEADS

One of the most recognizable brands Coca-cola is also turning heads by releasing NFT programs to raise money for Special Olympics International. This program focuses on collecting money for charity purposes.

CONCLUSION

Crypto is just another internet, some people will like it some will not and yes we can not deny the fact that it has some negative aspects also which can not ignore but it has also positives which help in better future growth. Many companies have already started entering the field of crypto it has the same rule first come first serve.