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Adoption Time

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The previous week was full of impactful news in the field of blockchain and we are happy to share our weekly news digest - “Adoption time” with you - the most important crypto-related events gathered in a single article. Coming every Monday it will help you to find out new opportunities to use your crypto, reveal fresh-released crypto-projects and share relevant adoption cases.

NFTs Are Going to Be Added to Instagram Soon

The founder and the current CEO of Meta - Mark Zuckerberg has confirmed earlier reports that the NFT features are going to be implemented in Instagram shortly. However currently there are no details on how NFTs will be implemented.

“We’re working on bringing NFTs to Instagram in the near term," Zuckerberg said.

Earlier Twitter granted its premium users on IOS an opportunity to use NFT-avatars and the same feature was soon released on Reddit. At the same time Facebook already had a bad experience with crypto - their cryptocurrency Diem (which initially was called Libra) failed to launch due to the range of internal and external hurdles.

14% of Salvadoran Businesses Are Using BTC, According to The Data of Chamber of Commerce

According to a recent survey by the Salvadoran Chamber of Commerce, only 14% of Salvadoran companies have adopted Bitcoin, even though the country has recognized the digital asset as a legal tender more than half a year ago. And the vast majority of companies reported that the implementation of BTC did not affect their business significantly.

This must be disappointing news for the president of El Salvador, Nayib Bukelele, who, due to his economic policy, can be called one of the most active Bitcoin adopters worldwide. But it should be taken into account that the official currency of El Salvador is the US Dollar, which must be difficult to substitute with s

uch a volatile currency as Bitcoin.

Spotify is Hiring Blockchain Experts and is Going to Enter the Web 3.0 Space

According to the open vacancies of Spotify, the company is looking forward to entering the Metaverse soon. Currently the range of vacancies vary from innovation and market intelligence manager to content creators and web 3.0 developers.

While the NFT sales have slowed down, implementation of music to the sphere might boost the interest of users and traders. In addition, there are lots of artists interested in the use of NFTs - Eminem, Akon, Snoop Dogg and their possible collaborations with Spotify might become a win-win strategy for all the parties involved.

Digital Services Act Was Proposed by an Australian Senator to Regulate Crypto-Market

At the Australian Blockchain Week, Andrew Bragg, the Australian Liberal Senator, introduced a legislative proposal which might become the basis of the crypto-regulation act in Australia. The act will cover crypto-market licensing, decentralized autonomous organizations (DAOs), debanking, and taxes. 

While more than 20% of Australians own cryptocurrency, implementation of the Digital Services Act looks reasonable, however the vast majority of the cryptocommunity stands against any type of government involvement in the industry.

Time Magazine Has Minted NFT of Their Front Cover with Vitalik Buterin on it

On 23 of March, Time Magazine in collaboration with LITDAO released an NFT magazine with Vitalik Buterin on the front cover. 

TIME President, Keith A. Grossman said: “As TIME continues to push the boundaries as to what is possible within the web3 ecosystem, producing the first-ever full magazine on the blockchain seemed like a natural extension for our brand and we knew this issue, in particular, would be cherished by our community.”

In his interview with the magazine, Buterin expressed his worries that the whole industry might choose the wrong way. "If we don’t exercise our voice, the only things that get built are the things that are immediately profitable,” he said.

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