The interest in the Crypto and NFT space by younger demographics is due to a multitude of factors, but the filtered, hyperbolic, end result that older generations get confounded by begs questions such as “Why are they paying 6 figures for pictures of a rock?” or “Why do they think the dollar won’t exist?”
Today, we’ll put forth a few reasons why a gravity toward crypto and NFTs exists for those in the younger generation; while hopefully educating to the older why it’s deeper than digital pet rocks.
1) Empowerment — Macroeconomic Pessimism and Mistrust:
In the landscape of economic uncertainty and a prevailing mistrust in traditional financial institutions, the younger generation is drawn to the empowerment offered by cryptocurrencies and NFTs. The decentralized nature of these digital assets provides a stark contrast to the centralized control of traditional banking systems. In a world where economic fluctuations and global events impact financial stability, the ability to participate in decentralized finance (DeFi) empowers individuals. This newfound power stems from the accessibility of information and transactions to everyone, lessening concerns about not having a comprehensive view of the entire financial landscape. The ethos of “be your own bank” resonates strongly with a generation seeking financial autonomy. This empowerment contributes to a brewing sense of righteous indignation, fueling a desire for a financial system that is transparent, inclusive, and not monopolized by a select few.
2) Gate-kept Nature of Traditional Investments:
Traditional investment avenues often erect barriers that limit the younger generation’s access to opportunities. From high entry thresholds to exclusive early-stage investment rounds, these barriers can be discouraging. Cryptocurrencies and NFTs, with their decentralized and borderless nature, offer a refreshing departure from these constraints. The absence of intermediaries and the ability to invest smaller amounts democratize the investment landscape, providing a level playing field. This inclusive approach aligns with the younger generation’s conviction to challenge established norms. By breaking down barriers and allowing for broader…
Credit: Source link