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Crypto 2022: Future of Money Week
Money innovation is everywhere and it’s getting wilder. Get all the week’s content here.
By CoinDesk
Updated May 11, 2023, 6:26 p.m. Published Nov 29, 2021, 3:26 p.m.
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“My prediction for the future of money is that it’s going to get a lot weirder. It will be more closely tied to, or allow a greater expression of, our identities and our individuality.” – Laura Shin, podcaster
Money used to be simple. Central banks issued it. You earned it, spent it, rarely thought about it.
Then came bitcoin and, as they say, everything changed. We realized that you don’t need governments to make money, and in fact anyone, individually or collectively, could create it for themselves.
Layer 2′s “Crypto 2022″ series started with Policy Week in October, followed by Future of Money Week in November and Culture Week this week. GET ALL THE CONTENT HERE.
And create it, they have.
In the last few years we’ve seen countless coin and token projects, some serious, many idiosyncratic, all in their own way making claims about the future of money.
Read more: The Future of Money: 20 Predictions
These pioneers made ETH and tether, doge and shib, central bank digital currencies (CBDC), social tokens, non-fungible tokens and much more, showing that money can be many things and what matters, often, isn’t the technology but whether people believe in the project. A money’s value, in other words, is a function of a community of believers and investors.
And, we’re only getting started. Money is multiplying in its forms and uses. It’s unbundling (relieving itself of the need to be a store of value, unit of account and medium of exchange all at the same time). It’s becoming programmable (more like software than hardware). And it’s becoming more and more fun: a reflection of culture, memes and the best and worst of the internet.
As podcaster Laura Shin told us, money increasingly mirrors “our identities and our individuality.”
She also said: “My prediction for the future of money is that it’s going to get a lot weirder.”
Which is a perfect encapsulation of this increasingly wild and varied field of innovation. Whatever you think the future looks like – and we’ll have plenty of ideas this week – it’s surely stranger.
Also part of Future of Money Week:
Olympus DAO Might Be the Future of Money (or It Might Be a Ponzi)
Money at the Speed of Thought: How ‘Fast Money’ Will Shape the Future - David Z. Morris
Money for Everything: A Future Where Every Inch of Culture Is Monetized – Will Gottsegen
Miami’s Multiple Money Visions – Michael Casey
Shiba Inu: Memes Are the Future of Money- David Z. Morris
7 Wild Scenarios for the Future of Money - Jeff Wilser
The Downside of Programmable Money - Marc Hochstein
Ethereum in 2022: What Is Money in the Metaverse? -Edward Oosterbaan
The Future of Money: A History - Dan Jeffries
Who Sets the Rules of Bitcoin as Nation-States and Corps Roll In - David Z. Morris
The Future of Money: 20 Predictions
The World Bitcoin Will Build - Cory Klippsten
The Big Miss in the Biden Administration’s Stablecoin Report – Tom Brown
The Radical Pluralism of Money – Matthew Prewitt
Aligning Social and Financial Capital to Create Better Money – Imran Ahmed
The Transhumanist Case for Crypto – Daniel Kuhn
Let the Market Come Up With Better Money Tech - Jim Dorn
Stablecoins’ Tenuous Relationships With Banks - Steven Kelly
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Pudgy Penguins is building a multi-vertical consumer IP platform — combining phygital products, games, NFTs and PENGU to monetize culture at scale.
What to know:
Pudgy Penguins is emerging as one of the strongest NFT-native brands of this cycle, shifting from speculative “digital luxury goods” into a multi-vertical consumer IP platform. Its strategy is to acquire users through mainstream channels first; toys, retail partnerships and viral media, then onboard them into Web3 through games, NFTs and the PENGU token.
The ecosystem now spans phygital products (> $13M retail sales and >1M units sold), games and experiences (Pudgy Party surpassed 500k downloads in two weeks), and a widely distributed token (airdropped to 6M+ wallets). While the market is currently pricing Pudgy at a premium relative to traditional IP peers, sustained success depends on execution across retail expansion, gaming adoption and deeper token utility.
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Circle faces first major 'threat' for institutional dollars from Tether’s USAT
While Circle's USDC has operated without a "credible domestic competitor," Tether's USAT has the potential to shake up the landscape, analysts said.
What to know:
- Analysts said USAT, the U.S.-focused stablecoin by Tether, could become the first credible domestic competitor to Circle's USDC token.
- USAT is "a threat to USDC" and could gain an edge through institutional partners and global USDT connectivity, Crypto is Macro Now's Noelle Acheson said.
- ClearStreet's Owen Lau called USAT “a manageable risk” for Circle, and noted potential "cannibalization" risk between Tether's two tokens.
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