7 minute read

*Editor's note: This article was updated on February 24, 2023, from its original publish date of April 25, 2022.
In 2022, cryptocurrency—crypto for short—jumped to the mainstream. You probably know someone who's dabbled with it. If not, you've probably seen the star-studded ads. Maybe during this year's Super Bowl, dubbed the “Crypto Bowl," when four cryptocurrency companies made their debut during coveted commercial slots. But coins and tokens are just the beginning. Other applications for the blockchain—like NFTs and the metaverse—are quickly capturing the world's attention, too.
Big institutions are taking notice. As predicted in our 2022 Commerce and Payment Trends Report, major payment providers are incorporating crypto into key programs and products—like loyalty, rewards and digital wallets. Yes, market volatility still presents a big challenge, but crypto is likely here to stay. So, what role will cryptocurrency play in the future of commerce? Before we make predictions, let's look at where the market stands today. And if you're already feeling lost (with blockchain, NFTs and the metaverse), don't worry. Here's a quick primer.