Top Use Cases for Crypto in 2022 – Payments, DeFi, NFTs and Gaming
Cryptocurrency prices are highly correlated to demand which in turn is related to the use cases of cryptocurrency and how differentiated that specific cryptocurrency is from others. Cryptocurrency predictions tend to become more accurate if use cases are clearly identified and measurable.
Top Use Cases for Crypto in 2022
- Payments (Specifically from Millennial customers who are own cryptocurrencies): This involves integrating crypto wallets with payment gateway
- Money Transfers within and outside the country
- DeFi financial apps that operate with authority distributed across the blockchain
- Protection against the devaluation of National currency
- Smart Contracts to enable transparent execution and management of contracts
- Decentralized Autonomous Organization (DAO) enables a more democratized bottom-up form of governance inside any entity.
- NFTs to buy and sell digital artwork
- All forms of Crypto gaming
- Metaverse: Virtual reality games that could be AR/VR enabled combined with some form of the digital economy. Example: Decentraland
- Play to Earn Gaming: Online games that reward players for completing tasks and beating competitors in those games, Example: Gala Play to earn
- NFT Games: Games that use NFTs in the gaming environment whether it is in the rules or player interactions. NFTs are often traded or earned as a reward for performance in such games. Example: Axie Infinity
- Casino Gaming: This is similar to traditional casino games like roulette, baccarat, blackjack, and poker except that players can wager online instead of in a physical location. Additional newer formats enable live Casino gaming. Casinos that enable cryptocurrency as a mode for payment and withdrawal are considered to be cryptocurrency-enabled Casino games.
- Move to Earn Gaming: Online games that reward players for completing physical tasks and beating competitors in those tasks