Puma’s latest partnership could be a “pivotal moment for mainstream crypto adoption” and play-to-earn gaming.
Puma, the global sports brand giant, continues its journey into blockchain with its latest partnership in Web3 gaming.
The German footwear conglomerate has partnered with Web3 mobile game UNKJD Soccer to leverage Puma-licensed content within the game.
Through the partnership with Puma, UNKJD hopes to unlock more player experiences, according to Tal Friedman, CEO of UNKJD.
Crypto trading platform Crypto.com has integrated Paypal as a payment method for U.S. users to buy cryptocurrencies, enabling transfers between Paypal and Crypto.com wallets. “Further integrating traditional and digital payment capabilities is critical to the continued mainstreaming of cryptocurrencies,” said Crypto.com’s president. Crypto.com Integrates Paypal for Crypto Purchases Cryptocurrency trading platform Crypto.com announced on Wednesday […]
A former Bloomberg analyst says that fundamental blockchain analysis points toward the notion that crypto is headed towards mainstream adoption. In a new thread, Jamie Coutts tells his 10,600 followers on the social media platform X that Metcalfe’s Law – which states that the value of a communications network is proportional to the square of […]
The post Here’s the Signal That Crypto Is Headed for Mainstream Adoption, According to Real Vision Analyst Jamie Coutts appeared first on The Daily Hodl.
ConsenSys CEO Joseph Lubin confirmed the company would be cutting 96 of its staff to focus its resources on its core businesses.
ConsenSys, the parent company behind MetaMask, is letting go of 11% of its workforce, with CEO Joseph Lubin blaming “uncertain market conditions” brought on by recent collapses.
In a blog post from ConsenSys CEO Joseph Lubin on Jan. 18, the blockchain firm CEO said “poorly behaved” centralized finance (CeFi) actors have cast a “broad pall on our ecosystem that we will all need to work through.”
Lubin said the decision will impact 96 employees and is part of plans to focus its resources on its core businesses.
Today we need to make the extremely difficult decision to streamline some of ConsenSys’ teams to adjust to challenging and uncertain market conditions.https://t.co/Svuk9yYj6J
— Joseph Lubin (@ethereumJoseph) January 18, 2023
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Speaking to Cointelegraph a few days before the layoffs were officially announced — though they had already been widely reported — Lex Sokolin, the chief cryptoeconomics officer of ConsenSys said that the industry was still far from mass adoption globally.
“We're still in a place where this is emerging technology. It’s not entirely well understood by the whole public,” he said.
According to Consensys, during the last bull run, over 30 million users each month were using MetaMask to access DeFi protocols, mint and trade NFTs and participate in DAOs. While promising, that’s a drop in the ocean globally.
“MetaMask has 30 million monthly users and in Web3, there are maybe 500 million addresses,” Sokolin said. “But that’s not five billion people.”
Asked when crypto will see mainstream adoption, Sokolin said it was all about having enough compelling use cases for crypto, as well as a thriving ecosystem to support it.
He also rejected the idea that it will come as a result of better user experience and clearer regulations.
“They're not the things that people say [such as] ‘when is UI going to be better’, or ‘when is regulation going to make it better.’ Those are important, but [...] they're not the catalyst,” said Sokolin adding:
“The catalyst of things is, one: Is there going to be enough stuff to buy on Web3 that I want to own?”
“If I live in Web3 and my avatar and my social media and my data and my status as a person, prestige, community belonging [...] is tied to me owning digital objects [...] you're gonna inevitably get to a place where everyone wants to be doing commercial transactions in Web3.”
“So for me, economic adoption is the most important thing. Because it's going to pull the rest of it into the ecosystem.”
Related: Crypto adoption in 2022: What events moved the industry forward?
In his latest post, Lubin said the company will be focused on streaming its workforce and focusing its business on core value drivers, including end-user custody solution MetaMask, developer platform Infura, and “new offerings” that grow Web3 commerce and decentralized autonomous organization (DAO) communities.
The Nasdaq-listed company Microstrategy sees “evidence of a lot more institutional adoption” of bitcoin. The firm cited various reasons including “The circumstances and the currency volatility” in Turkey, South America, and Africa — “all of these things have elevated institutional awareness of bitcoin.” Microstrategy Outlines Future Outlook for Bitcoin The Nasdaq-listed software company Microstrategy discussed […]
A number of asset managers have cautioned about investing in cryptocurrencies, including UBS Wealth Management, Pimco, T. Rowe Price, and Glenmede Investment Management. “We expect more stringent policy and regulatory controls ahead for crypto as it becomes more mainstream,” said UBS. Asset Managers Caution of Crypto Investing A number of asset managers have expressed caution […]
Bill Miller, the founder and chief investment officer of Miller Value Partners, does not think bitcoin is a bubble. Instead, he said it is at the beginning of mainstream adoption. Remaining bullish on the cryptocurrency, the famed value investor explained that bitcoin’s price will rise as the demand for the crypto is growing faster than […]