Whether or not you are a crypto investor, crypto affects your financial life. Here’s how.

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Paid by ledger

Once on the fringes of finance, the shift from crypto to mainstream means that its reach quickly affects everyone, not just investors active in this alternative asset. As crypto adds to the balance sheet of financial institutions, is adopted by countries as legal tender, and anchors a new perspective on how we think about art and its value, it becomes increasingly important to understand not just what crypto is, but how it is reshaping our world.

To help, crypto technology company Ledger has created “Down the Rabbit Hole,” an in-depth series exploring the ever-evolving role of crypto not only in the way we think about money, but also in the way we live. the world we live in.

Crypto is changing the world bank

With a decentralized database with no ownership or oversight by everyone, crypto is poised to make seismic changes in the way banking is done on both a personal and global level. Each week, “Down the Rabbit Hole” takes viewers around the world to see how the global adoption of crypto is rapidly changing global finance.

For example, Arnhem, a Dutch city about 100 kilometers from Amsterdam with a population of 150,000, has nicknamed itself Arnhem: Bitcoin City. This moniker was adopted after a push from local Bitcoin enthusiasts six years ago to encourage retailers to start accepting the alternative currency. Today, over 100 retailers accept bitcoin, and it’s possible to spend an entire weekend in the city without ever withdrawing money or a credit card.

In some ways, the city has become a test case to see what kinds of problems can arise in a crypto-entrenched society. One important problem: It can be difficult for retailers to stake a significant portion of their potential income on a currency that has the potential for wild swings. Another challenge is that many people are reluctant to “spend” their crypto, precisely because they hope it gains in value. But complications aside, the segment shows that Arnhem may be just a glimpse of what day-to-day use of crypto might look like.

The story continues

Crypto changes compensation packages

Recently, Paris St. Germain forward superstar Lionel Messi made headlines around the world as part of his pay included cryptocurrency ‘fan tokens’. What are Fan Tokens? Similar to stocks, Fan Tokens allow holders to help guide decisions made by the club, which is reminiscent of how shareholders can vote and hold a company accountable.

So does that mean stocks are depleted, crypto is in it? Potentially, in the future.

With a focus on the laser point of view on the crypto craze in European football clubs, “Down the Rabbit Hole” sketches a future that is only in its infancy when it comes to how whose concept of ownership will change crypto – and how the value of crypto is still developing. For example, in an episode of “The Story”, Mark Armstrong, director of partnerships for football club Paris St. Germain postulates that fan chips will become increasingly important in the world of football and beyond.

Crypto rewrites the rules of the art

The most fashionable and valuable art of the day is unlikely to be found in museums. Rather, it exists on the blockchain as a non-fungible token (NFT). For many artists, turning their art into NFT not only allows them access to a global art scene, but also allows the definition of art and collection to continue to evolve and expand, causing ripples. in art, society and culture.

In the segment “Down the Rabbit Hole” “The Deep Dive”, viewers discover the intersection of art and culture, with a spotlight on the names that change the concept of art and reality in real time. For example, Larva Labs is a studio that broke the billion dollar transaction cap by creating unique NFT characters like Crypto Punks – avatars that you can buy and “own” as NFTs.

Another segment discusses how crypto art rewrote the gaming world. “Axie Infinity” is a new type of video game featuring monsters called Axies for players to collect. Axies are also NFTs and must be purchased – at $ 300 each – for players to participate. But the more you play, the more crypto you can earn. In this way, gambling can translate into real money – and exemplifies the intersection of art, commerce, and culture evolving from the crypto craze.

Crypto is changing our view of reality

As the crypto world grows, so does our definition of reality. One element of this is the metaverse – the space beyond the “real” world that currently exists when you enter a virtual world, like in a video game. As blockchain allows people to buy and “own” worlds online, “Down the Rabbit Hole” asks how the metaverse will continue to expand into our lives – and our wallets – in the future.

As crypto and blockchain continue to play a central role in our lives, “Down the Rabbit Hole” goes beyond wallet performance to explore the people, stories, and history of crypto, even while we let’s live it. Because it’s becoming a blockchain world. And “Down the Rabbit Hole” can help you (finally) figure out what that can mean to you.

From the ledger:

Founded in 2014, Ledger is the all-in-one digital asset management solution serving retail and institutional clients in 200 countries. By combining a hardware wallet, which provides security, with the Ledger Live app, which provides access to cryptocurrency services, Ledger offers consumers the easiest way to start their crypto journey while maintaining full control over their digital assets. Their latest YouTube video series, “Down The Rabbit Hole,” explores how cryptography is changing the world, economy, and culture across the globe.

Exchange, lending and other crypto transaction services are provided by third party partners. Ledger does not provide any advice or recommendation on the use of these third party services.

This article was paid for by Ledger and created by Yahoo Creative Studios. The Yahoo! The Finance editorial staff were not involved in the creation of this content.

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