Top US Brands Embrace Blockchain Technology: Potential Growth and Challenges Ahead

Intricate cityscape with top US brands' buildings, futuristic blockchain aesthetic, golden sunlight, lively metaverse characters interacting, dynamic brushwork, sense of optimism and innovation, mixed emotions on characters' faces, hints of challenges like security & regulation hurdles.

Despite recent surveys revealing that Bitcoin and FTX are among the least liked brands in America, the technology behind cryptocurrencies has caught the attention of several top American brands. The Axios Harris Poll 100 reflects fascinating insights about attitudes towards Web3 and the crypto industry.

Interestingly, the fifth most popular brand, fast-food chain Chick-Fil-A, has explored entering the NFT and metaverse space by filing several trademark applications. Aligning with other pioneering brands, Toyota Motor Corporation, ranked sixth, has been outspoken about the power of blockchain technology since 2019. Companies like BMW, Mercedes Benz, Porsche, Subaru, and Jaguar are also reportedly analyzing opportunities in the Web3, NFT, blockchain, and digital wallet spaces.

The food industry, too, is dabbling in Web3 gaming; Kellogg Company, at number 26 on the poll, promoted their popular snacks Pop Tarts in this domain. Furthermore, pharmaceutical titan Pfizer, ranked at number 50, is engaged in decentralized science through investments made by its venture arm, Pfizer Ventures.

Notably, major tech companies are eagerly diving into the world of cryptocurrencies and blockchain. For instance, Sony, ranked 12th on the list, applied for an NFT-related patent earlier this year, hinting at possible Web3 plans for its PlayStation. Likewise, Samsung, a top 10 brand, disclosed a Smart TV patent, allowing users to buy NFTs from the comfort of their homes.

However, not all brands included in the survey have expressed an active interest in cryptocurrency, blockchain, or Web3 technologies. Yet, the increasing enthusiasm from those who have speaks volumes about the potential growth and adoption of digital currencies and associated tech.

As some of America’s most well-known brands embrace blockchain and cryptocurrency, skepticism towards the technology and its potential begins to wane. Nevertheless, as crypto starts to permeate into the mainstream, one cannot deny the inherent challenges that also lie ahead. Issues relating to security, regulation, and distinguishing between legitimate business ventures and fraudulent schemes are areas of concern that will need to be addressed, if not already.

Time will reveal whether more top American brands will join the bandwagon of cryptocurrency adopters, pushing the technology into the mainstream. Until then, crypto enthusiasts rejoice, as there is much to observe and learn during this pivotal revolution in the world of digital assets.

Source: Decrypt

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