2018 was an exceptional year for cryptography and blockchain in terms of partnership, adoption and awareness. Although it has been deeply hit by a bearish market towards the end, the global market has gained a lot of attention from institutions, investors and the general public. Alexander Golding, CEO of Helped Hope was of the opinion that 2019 would bring many positive things to blockchain and crypto in 2018. He hoped to see the progress of the crypt move forward in 2019. Speaking to BlockPublisher he said:
2019 is the year of maturation. We have already started to see it in 2018 with major developments such as the purchase of the BitTorrent network by Tron, and I expect to see much more in the future.
As explained by the example of TRON, it is evident that the development of blockchain and crypto startups lie in partnership and expansion. The most recent example is also the partnership between Litecoin and UFC. According to the recent Litecoin report which explains the sponsorship benefits that LTC has obtained from the recent partnership with UFC,
Based on an analysis report by TweetBinder, the result of the search for "Litecoin UFC" on Twitter has collected over 40,697,646 impressions over 7 days (between 26 and 4 January) with a potential coverage of 16,035,068 unique users. The result of this term or hashtag is estimated around the equivalent of $ 80,000 in advertising dollars. And this is only on Twitter.
This explains more or less the power to collaborate with large institutions. Franklyn Richards, the director of LTC further explained the effects of the partnership by stating,
The UFC partnership opens up some other avenues of interest and gives a certain type of legitimacy to the project as only many companies with a reputation will not touch anything they consider harmful to their audience. We are already negotiating with others and we hope to build a mutually beneficial relationship with them, in which they accept litecoin payments for events and shows that open up to the public.
Likewise, other cryptographic projects are trying to squeeze their names into other sports and get institutions to invest in space for better mass adoption.
Gil Luria, director of institutional research at D.A. Davidson & Co. was of the opinion that the encryption markets have not yet matured since the use cases have yet to be defined. With the increase in applications that would affect everyday users, the market would naturally see an increase in adoption rates.
The ultimate perspectives for the encrypted asset markets depend entirely on the applications and the use that emerge for these activities. While there has been strong activity in the last two years, we have not yet seen a significant number of commercially scalable solutions or applications.