Recently, Transfero, in partnership with the Red Bull energy drinks brand, featured the first crypto assets award at a surfing championship, using the BRZ. However, crypto assets are being used in other areas of the economy, whether for the purchase of real estate, the negotiation of art works, or even in a war scenario, as in the conflict between Russia and Ukraine.
Check out other areas where crypto assets are being pioneered.
Real Estate Financing
49-year-old maid Docelina de Barros was able to finance a R$ 129.000,00 home using a non-fungible token (NFT). Supported by netspaces, Docelina used her property as collateral and attached the property’s registration number to an NFT. With this digital document, the day laborer proved the income needed to finance a new home in the city of Porto Alegre, Rio Grande do Sul state.
Travels
Crypto assets and blockchain technology are starting to impact the travel industry. Many agencies now accept bitcoin (BTC) and other crypto assets as payment, with some even offering discounts to customers who pay in crypto. Recently, decentralized exchange aggregator 1inch Network announced a partnership with travel booking platform Travala.com, which will allow users to pay for their hotel reservations with crypto assets.
Crypto assets in the cities
Miami, New York, and Rio de Janeiro have bitcoin in common. All three cities already have or are with projects to include crypto assets in their portfolios of services for citizens, giving the direction of how municipalities can use them.
More than just a digital form of payment, cities can also use them as securities, enabling the issuance of cryptocurrencies and crypto assets. And this is the case in the three cities mentioned, which are already experiencing how to turn crypto assets into extra revenue.
For example, Rio de Janeiro’s city government is going to invest in crypto assets and create a digital currency, “CariocaCoin”. In addition, the municipality is already making studies to create NFTs of cultural heritage and to put the wonderful city in the metaverse.
Betting platforms
It is a fact that betting platforms have exploded recently and several of them sponsor Brazilian soccer teams. And many of them accept crypto assets as a form of payment. Sportsbet.Io is one of them, which has the former player Denilson as its poster boy, and is integrated with Metamask, a wallet focused on Ethereum tokens. Other examples are Cloudbet and Thunderpick.
Alternative in war
Crypto assets are also being used in the global geopolitical context. For example, since the beginning of the war in Ukraine, the Eastern European country has received millions of dollars in crypto assets, according to a survey released by the British company Elliptic, the world’s leading expert in digital currency analysis.
On the other side, Russia has been using crypto assets to conduct transactions to circumvent the sanctions imposed by Western countries on its economic system.
Russia sees crypto assets as an alternative for conducting financial transactions without the need for integration with global systems and currencies such as dollars. Through digital currencies, the country can buy and sell products.
NFTs for selling artwork
NFTs are being used to sell digital – and even physical – works of art. Although the hype of the non-fungible tokens has died down somewhat, there have been millions of sales of digital artworks using the technology.
Collections such as Bored Ape Yacht Club, CryptoPunks, and Azuki are some of the protagonists of the phenomenon that took over the whole world during the coronavirus pandemic, where interactions became even more digital. As a result, it has become commonplace to use crypto assets to buy digital certificates, and NFTs have become the profile pictures of many people on social networks, especially famous ones.
