A generational change has unstoppable momentum but isn’t confrontational, because it simply represents an altered way of looking at the world. Such shifts are inevitable and occur as a consequence of something that cannot be halted: people who have together been shaped a certain way are becoming older and taking over positions of responsibility.
And, it may be that embracing crypto is precisely such a generational change, as attitudes that are prevalent in older generations cease to be common in the generations that follow. These attitudes are, if we’re discussing crypto, in relation especially to technology, money, saving and investment, and online behavior.
Accessibility and Fairness
It’s sometimes stated that crypto is difficult to understand and that getting on board is a process that still has too much friction, requiring wallets to be set up, fiat to be converted into crypto, and all ideally with at least a surface understanding of blockchain technology.
However, an alternative perspective on this is that compared to traditional investing, getting started in crypto requires less homework, and makes a point of being open to everyone. The friction in crypto is practical, and learning how wallets and exchanges work is a hands-on education that is not especially complicated.
The friction in traditional investing, on the other hand, can come across as technical and academic, incorporating complex instruments and occasionally an exclusionary nature.
In some respects, crypto is a fairer alternative: since it’s newer, nobody has an insurmountable advantage, not enough time has passed for a pecking order to have become embedded, there is a drive to onboard new users, and besides which, crypto is intrinsically opposed to hierarchies and exclusion.
Gamification
The lines between gaming and finance are being blurred, as crypto projects incorporate 8-bit aesthetics, cutely styled NFTs, and interfaces that look and feel like retro games.
For a while, Axie Infinity was a breakout success, ostensibly a game but also providing full-time income to some of its users. It turned out that the Axie model was unsustainable, and its prices have now collapsed, but despite this, a seed was placed and the trend towards gamification gained pace.
To a generation that was raised on home…
