Cryptocurrency and NFTs are all the rage today. These blockchain-based technologies have taken the worlds of finance, investment, science, and art by storm, changing the way we look at these fields. While blockchain has been around for a while, it is only with crypto and NFTs that it has garnered immense mainstream popularity. And according to Starcatchers, the arc is going to go much higher.
Before talking about the future, let’s talk about history. What is cryptocurrency? It is a digital form of currency that can be bought and sold, and similar to the stock market, the rates of these currencies keep changing. Blockchain technology adds a layer of security to these trades. As we move into the Web3 world, cryptocurrency will play a huge part in the development of the same. This is why Starcatchers believes that the earlier you understand and start investing in cryptocurrency, the better. The people who realized the potential of Bitcoin, the oldest cryptocurrency, back when it launched, are now seeing astonishing results of their conviction. Currently, we are in the sweet spot where cryptocurrency is gaining recognition, but the market is still new enough to be entered. As we move to the future, cryptocurrency will change the future of finance and, on a micro-level, personal investment as well.
The other manifestation of blockchain technology is NFTs. While cryptocurrency is made of fungible tokens which can be traded, NFTs are Non-Fungible Tokens meant to grant ownership over a piece. Currently, NFTs are becoming wildly popular in the art world, with NFTs like CryptoPunks, Crytpoads, and Banana Apes dominating the market. While NFTs are still in the preliminary stage of development, they are being experimented with in fields like gaming and science too.
Both cryptocurrency and NFTs have great potential, which is not being explored to the fullest right now. Being an avid connoisseur of both, Starcatchers believes that their applications can go far beyond just finance. As the world moves even further in the metaverse and the digital space, cryptocurrency and NFTs will become the heart and soul of the new world. The blockchain technology behind them is incredibly versatile, allowing them to be molded as per the needs of the time. Which is Starcatchers foresees a brighter future for both when the full untapped potential of the technologies is harnessed. The future, with the growth of cryptocurrencies and NFTs, will certainly be an interesting growth to witness.