There’s no denying that cryptocurrency and blockchain technology have made massive strides toward becoming a bigger and bigger part of the world. Crypto ownership is on the rise, yet only around 7% of the global population owned some type of cryptocurrency at the end of 2024. That means there is still plenty of room for crypto to grow and expand its place in the world. The only question is how crypto will expand. What industries and economic arenas offer the most growth potential for crypto in the years to come? Let’s explore some possibilities.
Online Gaming
The online gaming industry has also seen incredible growth in recent years. The only difference is that online sportsbooks and online casinos have become mainstream. More states, provinces, and countries are making these platforms legal, leading to huge boosts in their popularity. Of course, these sites are centered around financial transactions, which has allowed cryptocurrency to make inroads in the online gaming industry. Even some of the most prominent sportsbook and casino platforms are allowing customers to make deposits and withdrawals using cryptocurrencies.
This trend doesn’t seem to be going away anytime soon with all of the specialized types of online casinos. This includes no-deposit casinos that allow customers to start playing without risking their own money and sweeps casinos that offer prizes rather than players betting money on casino games. There are even crypto casinos that not only accept crypto transactions but also offer games and features that are based on blockchain technology. With the sky being the limit for the online gaming industry, crypto being tied so closely with it also provides crypto with a lot of room to grow.
NFTs
Similar to online gaming, the growth of non-fungible tokens (NFTs) has been very much linked with cryptocurrency and blockchain technology. The tokens themselves are stored on the blockchain while the piece of art or media attached to them can be stored somewhere else. They have helped open the door for companies that don’t necessarily operate within the crypto space to dip their toe into the blockchain pool and offer digital assets and collectibles.
Looking ahead, NFTs are likely to play a key role in people owning their digital content. Therefore, the more people understand NFTs and utilize them, the more they will be introduced to blockchain technology and cryptocurrency, helping them to gain an understanding of how those arenas operate. This will help introduce more people to cryptocurrency, increasing investment in digital coins. While this may not happen overnight, there is no doubt that the presence of NFTs is increasing and moving into the mainstream, which will allow for the further growth of crypto.
Cross-Border Currency
One of many biggest advantages of cryptocurrency is that it’s decentralized. This means it doesn’t operate within the parameters of another currency or even within the borders of a country. Slowly but surely, individuals and businesses are recognizing that crypto can be used to get around many of the pain points of conducting transactions across national borders. These types of transactions often come with long delays, fees, and the complications that come with different banking regulations in different countries.
Of course, cryptocurrency and blockchain technology can bypass many of these issues. Crypto transactions happen quickly and with relatively few fees compared to some international transactions and currency exchanges. Given the convenience and security of the blockchain, it’s inevitable for more multinational companies to conduct business with other businesses using cryptocurrency. That makes this an area where the use and presence of crypto are likely to grow moving forward.
Emerging Markets
As mentioned, crypto is closely tied to emerging technologies like NFTs and fast-growing markets like online gaming. But it also has a lot of potential in emerging markets and areas that have long faced economic challenges and access to traditional banking institutions. Believe it or not, there are more than a billion adults throughout the world who don’t have a proper bank account. This limits the types of economic opportunities available to them that so many others take for granted.
Luckily, crypto has the power to be a solution to this problem, especially in developing countries and those going through financial hardships. While traditional banks require a stable address and several forms of ID, Internet access is the only requirement for crypto services. With the Internet becoming more available in the developing world, many emerging markets can depend on crypto without having to rely on traditional financial institutions, which is potentially the biggest area of potential growth for cryptocurrencies moving forward.
