Web3 & Crypto

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Crypto News

Hello all,

The importance of crypto as well as Web3 will quickly rise, giving the Castello Coin a central position with its combination of physical and digital assets. We have put together some interesting articles dealing with the topics of Web3 and crypto payments:

Web3: the Future of Social Interaction

In a recent interview, the so-called “Godmother of the Metaverse,” Cathy Hackl, spoke about the Metaverse and Web3. She explained her assessment of how both would influence the future of how people communicate. Hackl stated that Web3 gaming in particular was highly popular and would be the future of social interaction.

Asked how to describe the Metaverse to somebody who had not dealt with it before, Hackl cautioned not to just view the Metaverse as hype. Instead, the Metaverse should be understood as the successor of the Internet as it is known today. Here, she underlined that the physical world was part of the Metaverse, provided that both are constantly being interlinked. Furthermore, she pointed to the constant growth she saw in particular connected to gaming.

At the end of the interview, she further mentioned that this was the perfect moment to test projects and launch new concepts. It was key for people to understand what was happening in the Web3 and Metaverse space and to consider becoming a part of it.

The Majority of Retail Companies Plan to Enable Crypto Payments

Despite the ups and downs of the crypto markets, a new study from Deloitte shows that numerous US companies are assuming a growing interest in the crypto sector – soon, crypto payments could become mainstream as the study notes that some 75 percent of US American retailers are planning to accept payments via crypto currencies or stablecoins within the next two years. That way, companies are hoping for improved customer satisfaction as well as expanding their customer base.

An even greater share of interviewees in this study is expecting the demand for payment via crypto currencies to increase in general. A little more than half of participating retailers, according to the survey, have already invested more than 1 million US dollars into enabling digital payments. However, there are also challenges: Here, the majority of retail companies see the greatest hurdle in implementing the compatibility of the existing financial infrastructure with various digital currencies. Other obstacles include safety concerns, the volatility of the crypto market as well as lacking legal regulation and the possibility of keeping digital currencies in a bank account.

A greater acceptance of crypto payments in the economic cycle should further raise the attractiveness and garner even more attention. The Deloitte report’s conclusion thus reads, “We are expecting further partnerships with regulated and established institutions in the sector to contribute to using the advantages of digital currencies (e.g., convenience and support) and to create the necessary foundation of trust.”

Bitcoin Price Slightly Rises – Is the Next Boom in Sight?

Prior to the new CPI numbers being published on August 10, the optimism in the crypto market is palpable. In recent days, Bitcoin scored price hikes again and again – so much so, that a new monthly high was aimed at. Thus, the next upturn of the market could propel Bitcoin as high as 30,000 US dollars, if the current trend continues. Nevertheless, counterpressure to the rising price is likely since increased sales could become visible at 25,000 US dollars.

The American consumer price index (CPI) for this week is expected as a key indication for the further development of the price. Many experts currently assume that the new CPI numbers, reflecting the development of purchasing power or inflation, will give the crypto market more room to breathe.

A lot is happening on the crypto market and in the associated areas. We are delighted to be part of this exciting field.

Your Castello Coin Team