Cryptocurrency

Floki Inu Cryptocurrency Ads Under Investigation in UK – Bitcoin News

The march towards mass adoption of blockchain and cryptocurrencies has made significant strides in 2021 as the growth of decentralized finance (DeFi) and non-fungible tokens (NFT) brought crypto to the limelight of mainstream media on a daily basis.

From the rise of meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) to the groundbreaking popularity of the play-to-earn game model and popular protocols like Axie Infinity, 2021 was about showing the world the opportunities to generate income that exist within the cryptocurrency ecosystem.

And it’s not just the commitment of the average Joe and Jane that suggests the mass adoption of cryptocurrencies is upon us, as several major developments in financial and popular culture show that blockchain technology is slowly becoming a mainstay in the of global society will.

Here’s a look at some of the key developments in 2021 that suggest the mass adoption of cryptocurrencies is here.

Huge advertising deals are making headlines in the mainstream media

One of the main signs of mass adoption in 2021 has been the surge in large advertising contracts and partnership agreements between cryptocurrency-related companies and other large organizations such as sports teams and professional sports organizations, as well as popular celebrities and influencers.

Most recently, Crypto.com shocked the world when it announced it was signing a 20-year naming agreement with leading sports and entertainment company AEG to rename the Staples Center in Los Angeles the Crypto.com Arena.

We are very proud to announce that the Staples Center, the most famous arena in Los Angeles, is getting a new name:

https://t.co/vCnztATkNg Arena

As part of this 20-year partnership, we are also delighted to welcome @Lakers & @LAKings as our newest partners! pic.twitter.com/KCfYKySDRt

– Crypto.com (@cryptocom) November 17, 2021

As part of the $ 700 million deal, Crypto.com will partner with the Los Angeles Lakers and Los Angeles Kings to become the “Official Cryptocurrency Platform Partner” for the popular sports franchises.

This naming deal for Crypto.com follows a similar move earlier this year by the FTX cryptocurrency exchange, which signed a 19-year $ 135 million deal with Miami-Dade County to rename the Miami Heat’s home stadium the FTX Arena by 2040 .

Aside from those huge multi-year multi-year advertising deals worth billions of dollars, there have been a variety of other cryptocurrency-related advertising deals, including a sponsorship deal between Coinbase and the National Basketball Association and a partnership between the New York Digital Investment Group and the Houston Rockets, where the Investment company that will pay for the franchise with Bitcoin (BTC).

Big brands embrace the NFT culture

Another sign of mass adoption has been the acceptance of the NFT culture by globally recognized brands like McDonald’s and Burger King trying to capitalize on the popularity of the rapidly growing crypto subsector to connect with their customers.

I present you the most important NFT. RT for a chance at one of ten exclusive #McRibNFT

no purchase. nec. 50 US / DC, 18+ only. Winners will need a crypto wallet to receive NFT. Rules: https://t.co/2QRhsPlpur pic.twitter.com/KYmWI67PhG

– McDonald’s (@McDonalds) November 1, 2021

Despite the widespread action against cryptocurrencies in China, McDonald’s China launched its NFT line “Big Mac Rubik’s Cube” on October 8th to celebrate the company’s 31st anniversary in the Chinese market and give it away as part of the.

In September, Burger King launched an NFT-focused marketing campaign called “Keep It Real Meals,” which gave customers the opportunity to scan a QR code that came with their meals to receive one of three collectibles. Players who have collected all three tokens can exchange them as a reward for a digital collector’s item, a year’s supply of burger or a call to one of the campaign’s prominent endorsers.

All of this focus on NFTs by big brands and companies comes at a time when public interest in NFTs is growing, as data from Google Trends shows that searches for NFT-related phrases are at a record high as NFT- Inquiries have since exceeded searches for terms such as “DeFi”, “Ethereum” and “Blockchain”.

Television viewers were also increasingly exposed to cryptocurrency-related commercials starring prominent speakers such as actor Matt Damon and National Football League quarterback Tom Brady.

Related: NFT sales boom, but ownership is highly concentrated

Traditional finance is finally embracing bitcoin

A third development that suggests that cryptocurrencies are entering the mainstream was the integration of cryptocurrency-related projects into the mainstream financial space, the first Bitcoin-related ETF to be approved in the US market.

The launch of BITO was quickly followed by the launch of the VanEck Bitcoin Strategy ETF (XBTF), suggesting that the US Securities and Exchange Commission may approve Bitcoin futures ETFs at this point, but is not yet ready to approve spot Bitcoin ETFs, a development that may not happen before 2022 or later.

There has also been a significant integration of blockchain technology into the broader financial sector in 2021 as large payment processing networks such as Visa and Mastercard closed numerous deals across the cryptocurrency industry to allow crypto holders to use their tokens for payments.

Several influential crypto-focused companies, including the aforementioned Crypto.com as well as BlockFi and Coinbase, use the Visa network to power their debit and credit card system, while Mastercard has partnered with digital asset platform Bakkt and also laid the foundation for The support of Central has placed digital bank currencies (CBDC).

The fact that several central banks around the world have announced that they are studying or developing their own CBDCs is evidence of the inevitable integration and mass adoption of blockchain technology into the broader global financial ecosystem.

While it is likely that the crypto market as a whole will continue to experience its boom-and-bust cycles, as all markets do over time, crypto owners should be reassured that the long-term path of blockchain technology is toward a Widespread adoption and integration runs into numerous aspects of our daily life as the Internet of Things and Web 3.0 continue to evolve.

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The views and opinions expressed are those of the author only and do not necessarily reflect the views of Cointelegraph.com. Every step of investing and trading involves risk, so you should do your own research when making a decision.

Here’s a look at some of the key developments in 2021 that suggest the mass adoption of cryptocurrencies is here.

Source: https://www.bisayanews.com/2021/11/20/floki-inu-cryptocurrency-ads-under-investigation-in-uk-bitcoin-news/

Donovan Larsen

Donovan is a columnist and associate editor at the Dark News. He has written on everything from the politics to diversity issues in the workplace.

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