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Most cryptocurrency startups are facing a huge crisis a day due to the bloodbath in the crypt space today. The whole market has crashed drastically and investors have started moving to other opportunities. With the ICO model also in the process of fading, the crisis situation for new startups is increasing. Franklyn Richards, director of the esteemed Litecoin cryptocurrency network, believes the situation would be improved once the bear market ended. The only winners would be those who would be able to survive the bear market without crashing. Talking to BlockPublisher he said,
Just survive the bear market, it's always more painful than you can imagine being prepared to last twice as long. Once you leave the other side and interest increases, you will be rewarded
For start-ups to thrive, it is of the utmost necessity that they can be able to carry things of daily use, which require a decentralized solution, to the blockchain. It is important to stress that these solutions should be those that can affect everyone on a general level. For mass adoption in the future, according to Franklyn, there needs to be a general approach that covers what everyone wants. A vision defined with basic ambition or primary partnerships plays a fundamental role. Explaining this point further, Franklyn said:
Basic ambition or partnerships from top to bottom. I am in favor of Topdown because it is more effective and can implement this technology in a more meaningful way that influences everyone, even if they do not realize it.
Litecoin partnership with UFC
Setting up examples for other startups, Litecoin itself contributed to the mass adoption of cryptography by their projects, the most recent of which was the partnership with UFC. After crypto calcium, Litecoin has moved to this sports area that is also known for being a sport with one of the highest publics. The Litecoin team believes that their advertising at this level would naturally trigger a broad acceptance and give a reputation to the crypt. Franklyn stated,
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.
As we say, this is only the beginning of the mass adoption of crypto and blockchain, Litecoin has eyes on larger partnerships and events where Litecoin would be accepted as a mode of payment. Partnerships like these play an essential role in gaining the public's attention and gaining acceptance and adoption all over the world. Explaining the future goals of LTC and ongoing projects, Franklyn told BlockPublisher,
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.
