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The cryptocurrency and blockchain world is undergoing a major transformation from speculative asset trading to institutional infrastructure solutions. Speaking exclusively to Coinage at the Consensus conference, Ava Labs President John Wu discussed the institutional adoption process of the Avalanche (AVAX) ecosystem, new investment instruments, and global collaborations.
Wu noted that CME (Chicago Mercantile Exchange), one of the leading derivatives exchanges in the sector, is working to list Avalanche futures (CME Futures), and also reminded that there are already three Avalanche ETF applications in the market.
John Wu argued that these developments are a clear indication of the interest of traditional and institutional investors in the Avalanche ecosystem, stating:
“ETFs and futures are proof that traditional or institutional investors are now putting Avalanche on their radar and want to access this asset through familiar interfaces without having to deal with complex on-chain processes.”
Wu stated that Avalanche has been guided by the vision of “building the best infrastructure for organizations” from the very beginning, and announced that the loyalty program, ticket sales rights, and ticketing platform for this summer’s FIFA World Cup will all operate entirely on the Avalanche blockchain.
He also reported that NBA teams such as the Cleveland Cavaliers and Detroit Pistons have been experimenting with fan loyalty programs and in-stadium stablecoin payments on Avalanche.
Ava Labs President stated that they also have a very strong presence in the Asian market, and announced that through the “Progmat” initiative, which includes Japanese financial giant Mitsubishi Financial Group and other partners, $2 billion worth of tokenized real estate and fixed-income assets have been migrated to the Avalanche blockchain.
Wu stated that Avalanche’s “network of networks” architecture allows it to host billions of dollars worth of private chain volume, hidden beyond public (C-chain) networks.
Wu stated that the key performance indicators (KPIs) in the blockchain sector are changing; instead of recruiting individual users, it is now critical to include giant companies with millions of customers in the system. He shared a striking example from the gaming world. He noted that Nexon, a famous gaming company with over 20 years of experience and more than 200 million users, has created a private permissioned chain on Avalanche for its “MapleStory” game and has already reached hundreds of thousands of wallet addresses.
Referring to developments in regulatory clarity, Wu stated that there is a need for clear asset classification in the US, but that the world is moving in that direction with the steps taken by the SEC and related institutions.
*This is not investment advice.