What does 2022 look like for cryptocurrency?

Global crypto market capitalization reached a record $3 trillion (approximately INR 2,15,66,720 crore) in October 2021, the highest it has ever been. 

Let's hear from Lakshmi on how cryptocurrencies will play out in 2022.

The crypto industry is not only transformative for the financial sector but for several other sectors. It has the ability to truly facilitate financial inclusion and bank the unbanked. With the Gartner Hype cycle of 2021 predicting high innovation, we can already see concepts like Metaverse and NFTs bring to life, new ways of admiring art and virtual reality-based projects.

While there would be the typical bear-bull cycles going on throughout the year, the overall outlook seems positive.

As explained:

• NFTs or Non-Fungible tokens are digital assets tokenized on the blockchain to track and identify the unique ownership of that asset. These could act as game-changers for artists in several industries including music, digital paintings ,etc.

• Metaverse is a virtual world modeled on the various components of the real world where one can interact and engage with folks across the globe. Metaverse-based projects are becoming increasingly popular as they are set to bridge the gap between the real world and the virtual world. With blockchain, holding assets and identifying oneself is fairly simple in the Metaverse.

Moving on, in the next segment you'll get insights on the future careers that will be in demand in crypto industry. You'll also learn about India's first crypto index and what it means for investors in India