HOW NFTs CAN DRIVE CRYPTO ADOPTION THROUGH BLOCKCHAIN EDUCATION.
The common goal uniting multiple chains and protocols in crypto is adoption. Whether you’re building the next AMM or centralized exchange or NFT marketplace or even the metaverse, the goal is to see an ever increasing community of users utilize these products. And so, there is a hunt for talents, creative minds, technical geniuses, and even growth marketers to see that this goal is achieved across the ecosystem.
What’s important is that growth has remained constant in the crypto space since 2016. Individuals across the world are getting more acquainted with more than the profit-side of things. Apart from investing a few bucks or going all in, people are beginning to look at the technical sides. The year 2021, witnessed an unprecedented increase in search engine queries about crypto-related terms, a spike in developers transitioning to web3, and even tremendous interest in NFTs (Non-fungible tokens) leading to several traditional artists making that long-coming switch to digital art making.
A pictorial example of the growth of crypto interest below;
Blockchain Adoption and the need for growth mechanisms:
According to Investopedia, adoption rate refers to the pace at which a new technology is acquired and used by the public. This rate can be represented by the number of members of a society who start using a new technology or innovation during a specific period of time.
The “new technology” in question here is “ The Blockchain” often described as a disruptive technology. With the rise of new ideas borne out of the technology behind the blockchain, a lot of users from different facets are finding crypto more attractive.
However, there is a need for identifiable mechanisms that drive growth within this new industry. In order to accelerate the process and speed up adoption.
Thankfully, one of the most notable methods to drive growth in blockchain interest and usage is Education. Interest can only be born out of curiosity and curiousity has to be fed to give birth to knowledge. With knowledge comes adoption and with adoption, usage.
What this means is that there is an identifiable linear structure to driving growth in the cryptocurrency industry. Although this pattern is evident for all to see, it evidently lacks structure and attention.
How can NFTs structure Blockchain Education?
In today’s world, still much dominated by web2 companies, the digitization of existing processes for accessibility is the main driving force. Since humans spend so much time on the internet, they could, in turn, carry out physical activities digitally. This pattern produced edutech companies offering courses and of course certifications (pun intended). Today, you can attend Havard or Oxford from your couch.
With a more sophisticated database and better storage system, blockchain learning is evolving along this line. Only that this time, it is not limited to the digitization of the learning process but also the decentralization, and efficient validation of such processes through pseudo-decentralized learning management systems and NFT certificates.
The reason why this format could potentially be effective in spearheading the onboarding of crypto natives, is the single idea of incentivizing the process through the concept of learn and earn, the inclusion of a reward system through NFT certificates, and the creation of opportunities through internship cohorts. It’s sort of a one way ticket from an end-to-end perspective, with the interest of non-crypto natives at the center.
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