Cryptocurrency has grown to become a massive aspect of today’s financial market and is often discussed both on and offline. The potential crypto holds for the future, from decentralising banks to the data storage capacities of the blockchain, means it is set to continue its growth, and attain even more usage outside of digital spaces.
But right now, what can crypto be used for outside of digital spaces? Sure, investing can make someone real money by having it transferred to fiat, but in its token form, what can it be used for in the real world?
From crypto credit cards planned by projects like Xchange Monster (MXCH) to real-world gatherings like ApeFest to big brands allowing for payment in Dogecoin (DOGE), the offline applications for cryptocurrency are vast and continuing to expand.
Brands Get Onboard The Cryptocurrency Bandwagon
A notable way to tell how well an idea has been accepted by society can be deciphered by corporations’ response to them. For example, by simply looking at most brand social media accounts, it is clear that memes have become part of contemporary vernacular, as brands routinely post them to engage with their audience.
A similar phenomenon happened with crypto.
There are two main ways that brands have integrated themselves with the crypto space. One is through NFTs, with many brands utilising the NFT craze of summer 2021 by making NFTs of many of their popular products. It was proof that brands acknowledged and understood crypto and the potential it held, signalling to audiences that crypto was no longer a niche interest.
The other, and more relevant to this topic, is brands and shopping locations adopting cryptocurrency as a legitimate way to make purchases. For example, look no further than high fashion brand Gucci, and their adoption of Dogecoin (DOGE) and other crypto tokens as an accepted form of payment.
This was something that came to light earlier this year when it was revealed that certain Gucci locations in the US would be taking cryptocurrency as a legitimate payment option, surprisingly including the meme tokens Dogecoin (DOGE) and Shiba Inu (SHIB).
Universally regarded as a world-renowned brand, Gucci’s adoption of crypto can be seen as a huge indicator of crypto’s future- that it will become internationally recognised tender, and could be used to make purchases the same way fiat currency is used today.
It is a future, however, that for now at least, remains just a short distance from view.
ApeFest And External Community
With the emphasis crypto spaces place on community, meetings of crypto enthusiasts in real-life settings are unsurprising, and yet another example of how crypto is currently interacting and integrating with the physical world.
Take ApeFest, for example, where Bored Ape NFT owners come together in a physical, real-world space, to interact, play games, and revel in their shared adoration for their NFTs.
In making a digital community physical, ApeFest allows individuals to meet up, make friends, and form memories together. And what’s more valuable than that?
Xchange Monster and the Crypto Card
Making physical credit and debit cards connected to an individual’s crypto wallet is not a new concept, however as crypto wallet technology develops, so too does the potential for these physical cards.
Take the Xchange Monster (MXCH) Monster Wallet and its planned physical card variation.
On Xchange Monster (MXCH), the Monster Wallet is a multi-chain, multi-asset wallet. This means it can hold a variety of crypto assets, from NFTs to tokens, all the way to gaming rewards earnt on the platform to fiat currency. On the platform, all these assets can be easily traded and exchanged, allowing for a fast-moving and rewarding economy.
Say, for example, an NFT artist is paid the equivalent of $20 for a piece of work in Xchange Monsters (MXCH) native MXCH token. While the process of converting cryptocurrency to fiat has been made exceedingly simple through the Monster Wallet, the artist would still need then to transfer this money into a regular, centralised bank account, before it could be used.
With a physical card, this would no longer be an issue. No longer would centralised banks 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 the real world, in just a very short time after the purchase was made.
As this is still an aspect in development, but a very promising development nonetheless, it is recommended that you keep your eyes on Xchange Monster (MXCH) and its future developments.
Learn more about Xchange Monster (MXCH) at:
Presale: https://xchangemonster.boostx.finance/register
Website: https://xchangemonster.com/
Discord: https://discord.gg/M5hu5HwbeJ
Telegram: https://t.me/xchangemonsterofficial
Twitter: https://twitter.com/Xchange_Monster
Source: https://www.cryptopolitan.com/using-cryptocurrency-in-the-real-world/