Crypto Corner: The Digital Salary Is Here

It’s no secret that work is changing… if changing is even an appropriate word for it. It’s more like we’re witnessing a monumental shift in the very foundations of work and money, and they seem to be moving hand-in-hand, like synchronized dancers disrupting our “normal”. But just how much is it changing, and what does it mean for our future and how we support ourselves?

These are the questions we’ve been focused on lately as we’ve watched the landscape of the world change over the last few years, and what we’re seeing is that people are restless. They are restless and wanting, and they are hungry for anything that can fill that space.

Now… while this may not sound like it relates to work and money, nothing could be further from the truth, and here’s why: with the advent and adoption of digital money, people in the world are discovering levels of freedom and autonomy that would have been impossible just a few decades ago… or even more recently than that.

We Are The Product

Typically, when one needs to support themselves, they get a “job”. This job is pretty standard and confining. One goes in, does an assigned set of tasks, gets paid an assigned amount of money, and essentially loses autonomy through this process. However, because of the rise of hustle culture and the ever-increasing requirements for higher and higher levels of education to participate in the job market, people are more educated, savvy, and able to figure out how to make a dollar than ever.

This shift means that people have learned how to be their own boss, banker, HR department, contractor, accountant… you get the picture. Sprinkle in our modern technology, and you understand why the dynamics are so different this time from any other. Especially with the of influencers, individuals are the “brand” and can then make their own careers. How does this relate to crypto? Well… to deal the final blow to employers, people are figuring out there’s no reason they can’t be paid in something other than fiat.

Now… if you’ve been in the crypto space for a bit, you’ll know that there have been these early adopters in the space, banging out a living as digital nomads and getting paid in crypto. But now, we’re seeing regular people making the move, as well as well-known figures in public life. And, to help things along, social media platforms are raring to go to facilitate this.

To illustrate, we’ll point to Twitter, which recently integrated options for creators that allow them to receive payments in crypto directly from the platform. It’s brilliant, really. Anyone who understands the collective thirst for east and convenience, which Twitter clearly does, can see that this is a jackpot idea. Twitter understands that now, we (the people) are the brand, we make the content, and we get paid wherever we are.

Lead By Example

Who are some of the figures in the public eye we’re seeing pass up fiat paychecks for crypto? Politicians like New York’s Eric Adams, who has been a friendly face for the crypto space in the famous city. In Mayor Adams’ case, he announced his intention to take his first paycheck in crypto upon accepting his station to bring awareness and extend his hand that New York might flourish amongst the spoils of the space.

Adams, fully understanding the importance of the city in the financial world also understands that, if the city is going to stay competitive and relevant financially, crypto must be a part of the narrative. He noted the ample opportunities for job creation and improvement of the city’s economy that crypto could provide, saying, “New York is the center of the world, and we want it to be the center of cryptocurrency and other financial innovations.”

Now… some called his moves “showmanship” and a “political stunt”, but to paraphrase State Senator Diane J. Savino… yeah, that’s a big part of the point. People learn from others, we’re communal creatures. Seeing someone with power and respect accept crypto sends the message that it’s okay for the rest of us to want to be involved with it as well.

But it’s not just political figures… it’s sports figures as well. In fact, the sports space has been extremely cozy with crypto, with sports like bare knuckle fighting and MMA really digging into the space with some fervor, so we guess it’s no surprise that we’re now seeing famous athletes beginning to take their paychecks in crypto in some way.

One space where we’ve seen quite a few really big names taking crypto paychecks is the NFL, with several players preferring crypto. One of those players is Aaron Rodgers, who partnered with Cash App to accept a portion of his healthy salary in Bitcoin. Technically, he got part of it sent to his Cash App account and then converted to Bitcoin… but hey, there are still a few kinks to work out in the process to perfect it.

We also saw Trevor Lawrence do a variation of this, except Lawrence worked out an endorsement deal directly with the crypto portfolio app FTX to get his crypto. And New York Giants’ Saquon Barkley converted all of his endorsement pay into Bitcoin. We could go on, but you get the picture… crypto is seeping into the collective psyche, and these guys are ready to be first in line to try it and show us that it’s now cool to get paid in crypto.

So, maybe in the not-too-distant future, your paycheck will be in crypto. Or, maybe, companies will wise up, get on board, and start offering options for those workers who want to be paid in digital currency. Or, and this is even better for the workers, maybe they’ll just keep forging their own paths and accepting crypto as payment to escape the drudgery of office life altogether. Come back next week, we’ll have more from the edge of the crypto world!