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Fortune 100 Companies Embrace Blockchain, Crypto, and Web3 Technologies

The corporate giants that shape our world have their eyes set on an exciting, often polarising frontier – digital currencies, blockchain, and Web3 technologies. In a clear testament to the trend, an astounding 52% of Fortune 100 executives have either initiated or are in the process of launching such operations since the onset of 2020. This article will delve into this groundbreaking shift, focusing mainly on the increasing investment in Non-Fungible Tokens (NFTs), a phenomenon Fortune 100 firms keenly explore.

Disrupting the Status Quo: Crypto and Blockchain Stepping Out of the Shadows

The research findings shatter the skepticism of those still considering cryptocurrency as a peripheral financial asset, lacking in mainstream approval and credibility. A significant insight from the report reveals that Fortune 100 crypto projects are not merely conceptual musings. They are well on their way to becoming tangible realities. Interestingly, this trend isn’t confined to the top echelon. An overwhelming 83% of Fortune 500 executives claim their firms have either active crypto ventures underway or plans to initiate them soon.

The report paints an image of a financial services industry that refuses to be complacent in the face of innovation. The fear of losing a competitive edge keeps CEOs on their toes, aware of the transformative potential of crypto. Consequently, around 60% of the Fortune 100 initiatives announced since early 2022 have already been set into motion, with others at various pre-launch stages.

Preparing for the Inevitable: Digital Assets in Today’s Market

The study’s authors contend that introducing blockchain and crypto products is virtually inescapable in the current market climate. Neglecting digital assets could put the viability of fintech and financial services firms at risk. These businesses, the report emphasizes, are vigorously investing in these technologies, understanding the dire need for an update to the antiquated global financial system. The belief is apparent: blockchain could potentially be a fundamental solution to modernizing the financial world.

An intriguing portion of the report offers a sectorial and industrial breakdown of the crypto and blockchain projects. The primary contenders in this digital race are financial services, tech, and retail sectors, encompassing about 75% of the Fortune 100 initiatives.

A rapidly emerging trend in the digital arena is the investment in NFTs. As highlighted in the report, Nike leads the Fortune 100 pack in royalty revenue, number of collections launched, and purchaser base. NFT collections under Fortune 100 patronage have made a splash, generating over $1.6 billion in secondary market volume.

Dispelling Myths: The Crypto Interest is Here to Stay

Despite reports of fading interest in crypto, this study presents a broader perspective. It asserts that enthusiasm among the corporate behemoths remains robust. Since 2017, Fortune 100 firms have conducted 109 venture capital investments, infusing over $8 billion into 80 crypto and blockchain startups.

The report identifies blockchain as the core of corporate innovation. It is the focal point of the most planned initiatives, with 77% of surveyed executives believing in blockchain’s potential to revolutionise the financial sector.

In an era of escalating financial sophistication, existing regulatory norms often fall short. The report critiques the outdated 1946 Howey Test’s use to regulate today’s digital assets and services. An impressive 92% of respondents believe policymakers should craft novel regulations instead of clinging to obsolete rules better suited to the financial world of yesteryears.

The post Fortune 100 Companies Embrace Blockchain, Crypto, and Web3 Technologies appeared first on CryptoMode.

Jerry Rolon

After working for 7 years as a Internet Marketer, Jerry now aims to explore the journalistic side of Internet. With his impeccable knowledge in this domain, he churns out some of the best news articles from the internet niche. With respect to acedamics, Jerry earned a degree in business from California State University.

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