The creator of layer-1 blockchain Aptos (APT) says the project has identified which industries will bring about the next wave of crypto adoption.
In a new interview with Raoul Pal, Mo Shaikh, the co-founder of Aptos, says that gaming, entertainment, social media and finance are the four industries that will ramp up the adoption of digital assets.
Shaikh says that Aptos is focusing on the four sectors as they appear to have benefited the most from the integration of high throughput blockchain technology.
“How do you tell the world ‘Hey, there’s this new technology called the internet, what industries do you think it’s applicable to?’ I mean, all of them?
And so where you start becomes a very interesting problem to solve. Luckily, we’re not the first ones to market. Other blockchains have been out, and so we’ve seen the market validate some use cases.
I think derivatives and decentralized finance (DeFi) has been a great industry to pay attention to, our industry vertical. But we focus our efforts within four categories. The first one is gaming, the second one is social media, third is media and entertainment, and the fourth is finance.”
According to Shaikh, Aptos will not only take advantage of digital collectibles in games, it will also create new use cases for the industry, such as an on-chain randomization checker to ensure that no one is cheating.
In terms of media and entertainment, Shaikh says blockchain technology can help enhance a fan’s involvement in an event by letting them continue their experience even after they’ve left by providing them collectibles that can serve as shareable memorabilia, proof-of-attendance or tickets that redeem prizes.
Shaikh also says that projects being built on top of Aptos are taking advantage of the transaction speed of the blockchain, which he says is the fastest on the market and could help bring about financial inclusivity.
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