A spate of significant developments in economics and popular culture imply that 2021 marked the official start of cryptocurrency general acceptance.

The march towards widespread adoption of blockchain and cryptocurrencies made significant gains in 2021, as the emergence of decentralised finance (DeFi) and nonfungible tokens (NFT) propelled crypto into the daily focus of mainstream media.

From the rise of meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB) to the meteoric rise of the play-to-earn gaming model and popular protocols like Axie Infinity, 2021 has been about demonstrating the revenue-generating options available inside the cryptocurrency ecosystem.

And it is not just consumer interaction that indicates that mainstream acceptance of cryptocurrencies is imminent; many high-profile developments in finance and popular culture demonstrate that blockchain technology is gradually becoming a mainstay of global civilisation.

Here are some of the most significant happenings in 2021 that show that cryptocurrency general acceptance is imminent:

Massive endorsement deals grab the attention of the mainstream media

The increase in major endorsement deals and partnership agreements between cryptocurrency-related companies and other major organisations such as sports teams and professional sports organisations, as well as popular celebrities and influencers, has been one of the most significant signs of mass adoption in 2021.

Recently, Crypto.com stunned the globe by announcing the signing of a 20-year naming rights agreement with AEG, the world's largest sports and entertainment corporation, to rename the Los Angeles Staples Center Crypto.com Arena.

Crypto.com will collaborate with the Los Angeles Lakers and Los Angeles Kings as part of the $700 million arrangement, serving as the popular sports organisations' "exclusive cryptocurrency platform partner."

Crypto.com's naming contract follows a similar move by cryptocurrency exchange FTX earlier this year, when it secured a 19-year, $135 million deal with Miami-Dade County to brand the Miami Heat's home stadium FTX Arena until 2040.

Apart from these multi-year, multi-million-dollar endorsement deals, a slew of other cryptocurrency-related endorsements have occurred, including a partnership between Coinbase and the National Basketball Association and a partnership between the New York Digital Investment Group and the Houston Rockets, in which the investment firm will pay the franchise in Bitcoin (BTC).

The NFT culture is embraced by major brands

Another indicator of widespread adoption is the embrace of NFT culture by globally famous businesses such as McDonald's and Burger King, which are looking to leverage the popularity of the fast rising crypto subsector to engage their customers.

Despite China's broad cryptocurrency crackdown, McDonald's China introduced its "Big Mac Rubik's Cube" line of NFTs on Oct. 8 to commemorate the company's 31st anniversary in the Chinese market. The giveaway included a set of 188 NFTs handed to staff and customers.

Burger King launched an NFT-focused marketing campaign in September called "Keep It Real Meals," in which consumers could scan a QR code included in their meals to get one of three collectable game pieces. Players who gather all three game pieces will be eligible to get a digital collectable, a year's supply of burgers, or a phone call with one of the campaign's celebrity endorsers.

All of this attention on NFTs by large brands and organisations comes at a time when public interest in NFTs is increasing, as indicated by data from Google Trends, which indicates that searches for NFT-related phrases have eclipsed searches for terms like as "DeFi," "Ethereum," and "blockchain."

Additionally, television viewers have been exposed to more cryptocurrency-related advertising with well-known spokespersons such as actor Matt Damon and National Football League quarterback Tom Brady.

Finance as we know it has finally embraced Bitcoin

A third indicator that mainstream adoption of cryptocurrencies is underway is the integration of cryptocurrency-related projects into established financial markets, the most notable example being the launch of the ProShares Bitcoin Strategy exchange-traded fund (ETF) (BITO), the first Bitcoin-related ETF permitted on the US market.

The launch of BITO was quickly followed by the launch of the VanEck Bitcoin Strategy ETF (XBTF), indicating that the US Securities and Exchange Commission is comfortable approving Bitcoin futures ETFs at the moment but is not yet prepared to allow spot Bitcoin ETFs, which may not occur until 2022 or later.

Additionally, 2021 saw a considerable integration of blockchain technology into the broader financial sector, as major payment processing networks including as Visa and Mastercard negotiated many collaborations with the cryptocurrency industry to enable crypto holders to utilise their tokens as payment.

Numerous prominent crypto-focused businesses, including the aforementioned Crypto.com, BlockFi, and Coinbase, rely on the Visa network to power their debit and credit card systems, while Mastercard has partnered with the digital asset platform Bakkt, laying the groundwork for eventual support of central bank digital currencies (CBDC).

The fact that numerous central banks around the world have indicated their intention to investigate or construct their own CBDCs demonstrates the technology's eventual integration and widespread acceptance in the broader global financial ecosystem.

While the crypto market as a whole is likely to continue to experience boom-bust cycles, as all markets do over time, crypto holders can rest assured that the long term trajectory of blockchain technology is towards widespread adoption and integration in numerous aspects of our daily lives as the Internet of Things and Web 3.0 continue to evolve.

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