What’s it going to take to get cryptocurrency widely accepted?

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The metaverse doesn’t quite exist yet, but it’s just the dusk before the dawn. And when it does finally burst into life, commerce and transactions are going to be central to so much of the activity within it. Industry experts dove into the topic today during the “Transacting in the Metaverse” panel at the GamesBeat “Into the Metaverse” Summit.

Dean Takahashi, lead writer of GamesBeat, hosted Chris Smith, founder of BIG Esports, Josh Marcus, COO at Rumble Gaming, and Evan Heby, senior marketing manager of Tipalti in a wide-ranging conversation about tokens, cryptocurrencies, NFTs, and other transactions in today’s virtual spaces and tomorrow’s metaverse. There’s a long road to go before everyone feels that these forms of currency are safe and secure, and they become universal. How do we get there?

“What we’re seeing is a move, first and foremost, from some of the traditional methods of payment you might see, checks and things like that, to digital versions of that, whether it’s an echeck or wire or ACH,” Heby said. “But we also predict that we’ll see even more movement as the metaverse develops, and as people build more of that trust with the cryptocurrencies, and feel that there’s a lot of value behind things like NFTs. People will start to be more willing to get paid in those forms.”

Cryptocurrency will become far more trusted and far more universal when it’s the answer to a problem that needs to be solved, Smith said — and that’s part of why many gamers reject the idea of NFTs. There’s a tremendous amount of potential for things like smart contracts in a broad array of industries, from gaming and