The COVID-19 pandemic, along with other recent events, have revealed the need for a fully digital economy, giving rise to Metaverse ecosystems, Web3 platforms and the adoption of digital currencies.
For example, the Ukrainian government recently reached out to the crypto community on Twitter (NYSE:TWTR) asking for donations in Bitcoin (BTC), Ether (ETH) and Tether (USDT). Nonfungible tokens, or NFTs, have also gained mainstream adoption as artists and creators across the globe have discovered new forms of monetization with these models. While innovative, these use cases also demonstrate the notion that blockchain-based concepts that emerged early on often take years to resonate with mainstream society.