Cryptos have been used as payments for data theft and blackmailing. You can call this ransom payments. Cryptos are treated as digital gold. In gaming, cryptos are treated as assets. Cryptos become assets in metaverse. These are used to pay off smart contracts. DeFi has underlying crypto assets.

Brands and Cryptos

Brands like Gucci and Balenciaga have started accepting cryptos at the stores in North America. Initially, in 2014, even Microsoft accepted bitcoin to top up Microsoft account and pay for its various services despite Bill Gates’s misgivings about cryptos. Warren Buffet too is averse to cryptos. Musk blows hot and cold on cryptos. Musk was ready to accept crypto payments for Tesla but backtracked when environmental activists raised a hue and cry. Later in 2002, Tesla announced it would accept DogeCoin. Wikipedia used to collect donations in cryptos but discontinues the practice on the basis of environmental considerations.