Crypto-based technology giants have commenced plans at the World Economic Forum in Davos to take over the main strip, Promenade. The Promenade is the major platform in Davos, where companies and governments control shops and bars. This strip is now controlled by crypto technology companies. This takeover comes after the recent market meltdown that led to the loss of billions of dollars of market value.
The main strip is now taken over by major companies like Meta and Salesforce. One of the delegates at the World Economic Forum commends the efforts of the cryptocurrency technology companies.
Since then, cryptocurrency technology companies have had a cue form to control the entire Davos.days ago, Tether, a company that undertakes the stablecoins USDT, built a stand to give away free pizza on the Promenade platform. This allowed a programmer to buy pizza using Bitcoin. Another delegate highlighted that the intention of these major firms is to “splash the cash”.
Similarly, Fernando Verboonen, the founder of RollApp, a non-fungible token marketplace, confirmed that roughly 60% of the venues in Promenade’s streets are cryptocurrency-based. RollApp also controlled the operations of a shop on the Promenade. He expressed the readiness of many more cryptocurrency firms to spread all over Davos.
Defiance against the current tides
There is no doubt that the current tides in the crypto market have not been unfavourable, as the market has witnessed a massive loss. The crash of stablecoins terraUSD also sent shivers down the spine of many players in the industry. However, it is evident that the players in the crypto scene intend to make moves against the current tides. They are fully ready to take over the space on the promenade.
In an interview with Clifford Sarkin, the Chief Operating Officer of Casper Labs, a top-tier blockchain startup, he highlighted “that it’s been a crazy few weeks in crypto.” We committed to coming here a long time ago, but that wasn’t going to change. We are in a position that we are going to withstand the bear market and there will be a bull run again”. This further confirms that these companies are fully ready to thrive after the fall of crypto.