Companies have begun adopting blockchain technology and digital assets around the world. Some of the world’s biggest companies like Google, Amazon and Microsoft are hiring for Web3 positions. At the same time, corporations like the NFL, Nike and Walmart are all experimenting in different ways with advanced technology.
Big companies and little companies alike have taken to digital assets and blockchain, with 77% of company executives claiming that not adopting blockchain would be a competitive disadvantage.
The Tech World Adopts Blockchain
Google, Amazon and Microsoft have all quietly led the way into the blockchain space. Google launched a digital asset team and holds investments in both Ripple and Storj. The tech giant was also named the second largest investor in blockchain, after SBI Holdings. With the dominance Google has had over the tech world for the past decade, it’s no surprise they are embracing new technology.
Amazon AWS supports blockchains and utilizes Chainlink, Ethereum and Hyperledger. Amazon also supports Ethereum nodes, used to help secure the network. Microsoft has held a partnership with blockchain Enjin to bring NFT marketplaces to video games. Microsoft also controls most of the popular gaming brands like Activision Blizzard and Xbox.
These tech giants are all getting involved in the digital asset space in different ways and expanding the space. Spotify, Shopify and Gamestop bring three more unique ways companies are using blockchain.
GameStop has famously pivoted into an NFT marketplace after its meme-stock rally. Shopify has integrated Bitcoins lightning network to allow millions of merchants to accept Bitcoin and Spotify plans to add NFTs to its service directly. All these different ways the tech industry is adopting blockchain technology are certainly something to pay attention to.
The Sports World Adopts Blockchain Tech
Crypto officially merged with the sports and athletic world over the past year, and Staples Arena was even renamed Crypto.com Arena. The integration of blockchain and sports for promotional reasons skyrocketed after this massive move by the crypto exchange. Fellow exchange FTX, partnered with the Washington Capitals while the Boston Bruins signed an advertising deal with Algorand. Logos and signs can be found throughout the arenas for these blockchain-based services.
Athletes like Odell Beckham Junior made headlines for taking their NFL salaries in Bitcoin and Tom Brady even launched his own platform. Dozens of athletes jumped into the NFT hype including Shaq, Steph Curry and plenty more. All of these actions helped drive large amounts of publicity to the general digital asset space.
The NFL, the NBA and other traditional sports have been partnering with Dapper Labs to build virtual experiences and integrate their brands with Web3. Through the partnership, the company sells in-game moments as NFTs to fans. NFTs have proven to be in demand with an opportunity for royalty revenue in the collectibles market.
Music and Events Adopt Blockchain Technology
Coachella sold NFTs that acted as lifetime passes for all future concerts. Steve Aoki launched his own metaverse experience and included concert passes along with the NFTs. NFT tickets and passes for all events make a lot of sense. NFTs in general gives much greater control over secondary markets, including fraud and distribution.
The music industry itself has adopted blockchain and NFTs entirely separate from tickets and passes. NFT music is slowly gaining credibility with artists like Nas, Snoop Dog, Chainsmokers, and more all releasing songs on the blockchain. Death Row Records, after being acquired by Snoop Dogg, announced a transition to becoming a “blockchain record label”.
NFTs and blockchain technology are powerful tools for creators and entrepreneurs.
Retail Adopts Blockchain
Nike made a massive splash in the business world by announcing the acquisition of RTFKT, a metaverse sneaker company. The company sells metaverse wearables and had gained a large following before the sneaker giant made an offer. Shortly after, Addidas announced a partnership with Yuga Labs and the Bored Apes to drop their own NFT collection.
Nike has made almost 200 million dollars from NFTs in under one year. Around 90 million dollars came from primary sales of NFTs, while a similar amount came from secondary sales, aka royalty fees. This is a massive use case for NFTs. Nike was able to capture a piece of the extensive sneaker secondary market that has run wild for decades.
NFTs give companies like Nike and Addidas the opportunity to better control secondary markets. They could authenticate the legitimacy of the shoe or sneaker while allowing the company to finally get a piece of the action. Non-Fungible Tokens could also help with the distribution of limited drops, stopping checkout bots and easily rewarding those top customers.
Supply Chains Adopt Blockchain
As supply chains became such a big issue for the global economy in the past few years many companies are exploring better alternatives. Both Walmart China and Louis Vuitton use Vechain to manage supply chains. Real businesses use cases for blockchain is the number one utility pushing towards broad adoption.
Blockchains and smart contracts can enhance, streamline and automate supply chains around the globe. Consumers and businesses alike can track exactly where products came from in real-time, starting at the assembly line. Beyond supply chains, blockchains present a great opportunity for tracking carbon emissions and footprints. Something that has been talked about quite a bit while governments and companies figure out how to implement the new procedures.
The Financial Industry Adopts Blockchain
Mastercard and Visa both have extensive partnerships in the blockchain space. Mastercards include Binance, Gemini, Nexo and BitPay. Visas partnerships include Coinbase, BlockFi, Crypto.com, Shakepay and WireX. All of these partnerships were forged to offer cryptocurrency credit and debit cards, making everyday transactions much easier. Visa also dove in and purchased a CryptoPunk NFT for about 30ETH, claiming it was for their vault as a piece of digital history.
JP Morgan, Fidelity, Capital One, Goldman Sachs, CitiGroup and BlackRock all now offer cryptocurrency and digital asset services to their clientele. This is only a short list of the notable financial institutions that have seen enough demand that they decided to implement and offer blockchain technology.
Companies Hiring For Blockchain & Web3 Positions
Traditional businesses are losing talent to Web3 in an intense fashion over the last two years. The blockchain space offers a level of excitement and innovation rarely seen in the traditional industries. This is why top talent from companies like Google, Airbnb and Youtube have begun building careers in Web3. Blockchain job postings have even increased by over 400% since 2020, according to LinkedIn.
The following companies are all hiring for Web3 positions.
- Capital One
The most common job posting is for developers and programmers with community managers being the next in-demand. Advisors, strategists and consultants are also needed right now by many companies entering Web3 for the first time. Writing, design and marketing positions are needed by just about every Web3 company around.
Web3 and blockchain talent is highly in-demand with no signs of slowing down. This technology is gaining adoption faster than anyone could have predicted and there are simply not enough people educated on the space. Being knowledgable about the cryptocurrency and Web3 space, as well as how blockchain technology works will open many doors in the near future for those who are ready.
The World is Adopting Blockchain Technology
The entire world is adopting blockchain. All four of the “Big Four” accounting/consulting firms have had blockchain divisions since before 2018. Governments around the world, specifically Asia, Africa and Central/South American ones, have begun adopting blockchain technology for a variety of reasons.
El Salvador made history by becoming the first country to make Bitcoin legal tender. Several African countries instantly started exploring similar options. Thailand’s judicial system switched to a blockchain over a year ago while Ethiopia has been working with Cardano to bring education on-chain. Each of the developed countries’ CBDC plans has tapped blockchains as consultants or partners in the project.
Blockchain technology possesses the biggest benefit to under-developed countries. Countries with less opportunity, wilting economies and rampant inflation. Countries that experience government over-reach or have unbanked citizens. These are countries that need blockchain technology. Blockchain will be adopted where it makes the most sense first, with first-world countries adopting it last.
It is only a matter of time before the entire world adopts blockchain technology and digital assets.
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