Fiat To Crypto Conversions Getting Easier
I still remember the times before Coinbase where it was pretty much impossible to get your fiat money into crypto. Faster forward to coinbase days and it still was a little complicated. It wasn't until around 2015-2016 that it became a little easier to take some of your paycheck and start buying crypto with it. It was at those times we started to see the increase in price of cryptocurrency.
Fast forward to today and we now have a rally because of large buy ins and pushes towards ETFs. However many of these still are not direct conversions instead it's outside buys that support crypto such as mining equipment etc. But is that all about to change radically here in 2022? I believe so and it's because of the whispers of these moves that I feel we are gearing up for something huge.
Coinbase > Mastercard > NFTs
If you haven't heard Coinbase is working on launching their own NFT marketplace. It seems like many large brands are starting to line up and build their own NFT marketplaces and honestly it does throw me off a bit. If something is suppose to be minted to the blockchain shouldn't that same listing instead be shown across ALL NFT marketplaces and whatever marketplace sells it gets the cut? It just feels totally off to me that the same blockchain is used yet you can only mint it and promote it on a single marketplace.
Anyways random thought there but news is out that Coinbase will be teaming up with Mastercard to offer a quick and easy solution to buying NFTs off of their marketplace. While this seems dumb easy the thing is it's actully lightyears ahead of its time in terms of converting FIAT money into a NFT. On most platforms you currently have to find a place that will allow you to buy ETH via a credit card good luck on that lol or a bank that will allow you to buy ETH again good luck on that as banks still try and give you crap for buying crypto with your own money haha. This now offers up an easy solution to get ETH and get involved. It's a much easier front end that wont have you messing with crypto wallets etc. This easy onboarding to NFTs is actully massive and offers every day people who don't care to learn all the tech stuff to NFTs and wallets to instead click a few buttons and buy with their master card. Something they do on the daily and understand. That stupid simple user interface might not seem like a lot but trust me IT IS!
OpenSeas Eyeing Up Fiat
Another big news update in this space is OpenSea buying Dharma and setting themselves up for FIAT onboarding. This move towards easy Fiat onboarding for buying NFTS could very well be one of the largest massive onboardings of new money into the crypto space.
Openseas has found themselves in need to start acting as some competitors are taking market share. This compaction is great as it challenges companies that end up getting big fast and perhaps doing some shady things. What cool about crypto is people talk and act fast and Looksrare is starting to make some gains.
Looksrare from the top allows you to stake their native token to earn rewards and also earn token rewards for buying and selling on their marketplace. This rewarding to content creators instead of a platform that just takes the profits is what a decentralized web would look like. While I feel like we wont ever get to a real decentralized state and instead we are just putting a rewards mask on it. It is as least a step in the right direction when it comes to giving at least some power back to creators and users by allowing them to own, vote and take part in the platform. When you really think about it it's like owning stock and casting a vote. It's pretty wild when you start to compare crypto to traditional finances and how things work and see how close they align up.
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