Mindfulness is a $30B industry and cryptocurrencies have a market cap of over $1.3T. These two industries are poles apart from each other and uniting them might seem a little far-fetched. But there is a new generation of emerging projects that are doing exactly that in an effort to make our generation more mindful.
Well, we know the question that’s popping in your mind right now. Why unite crypto and mindfulness in the first place? What good is it? The answer to this is pretty straightforward. Millennials are more prone to mental health disorders and millennials love crypto.
Millennials and Crypto
You can love them or hate them but you cannot ignore them. Of course, we’re talking about cryptocurrencies. They seem to be quite the rage these days with almost every industry finding a unique use-case for crypto. The prices of major coins have gone through the roof and everyone now wants a piece of this new cake. Even the Google search volumes for “crypto” have long surpassed the volumes for “stocks”.
While crypto has managed to garner attention from people of all age groups and backgrounds, it is millennials who are leading this transition into a decentralized future. It could be millennials’ appetite for risk, or the higher ROIs in crypto, or just the appeal of a decentralized future. Whatever the reason is, millennials are more inclined towards crypto when compared to other generations. A recent study conducted by Pipslay covering over 5000 adults showed that 49% of millennials owned crypto when compared to 38% of Gen Xers.
Millennials and Mental Health
While millennials might be the change-seeking, risk-taking generation, they’re also the constantly burned-out one. In between work, friends, family, social media, and the new episode of their favorite Netflix show, they’re caught in a vicious cycle and hardly have any time for themselves. The result — millennials suffer from higher rates of depression, anxiety, and burnout when compared to previous generations. This is also why millennials more than any other generation are in dire need of mindfulness.
Meditation and other mindfulness practices have been associated with better mental health for centuries. These practices have also been used in the treatment of mental health issues. But how do you get this busy generation to leave everything aside and focus inward? Sure, there are a few apps that claim to make meditation and mindfulness more fun but so far, the results have not been impressive. Well, the fool-proof solution for this problem lies in millennials’ newfound love for crypto.
Uniting Millennials, Mindfulness, and Crypto On the Blockchain
In an effort to promote mindfulness among millennials and to better their mental health, a new generation of blockchain-based projects are emerging. The aim of these projects is to make mindfulness not just fun and satisfying but also profitable to the reward-seeking generation. Leading charge in this realm is an innovative project called BudaCoin ($BUDA).
BudaCoin aims to create an ecosystem where users earn rewards for practicing mindfulness. BUDA is basically a BEP-20 token used to power a platform called BudaMind for mindfulness educators, content creators, and consumers. This platform will create awareness, promote the practice, and make mindfulness education easily accessible to everyone. Content creators on the platform will earn rewards for teaching mindfulness practices. Consumers, on the other hand, will get rewards in $BUDA for practicing mindfulness and meditation.
The platform also aims to tap further into millennials’ interests and create an NFT marketplace for digital assets related to mindfulness. These assets could be art, guided meditations, meditation music, and the likes. BudaCoin also has a charitable aspect, where donations are made to organizations working in the realm of mindfulness.
Apart from this, holders of BUDA can stake their tokens into high yield liquidity pools for rewards. These liquidity pools will, in turn, be used to fund the BudaMind app and meditation rewards.
With a robust reward mechanism and promising plan of expansion, BudaCoin might just be the tipping point for millennials to adopt mindfulness practices and make them a part of their daily life.
Cryptocurrencies have had quite the journey from their inception in 2009. They’ve changed multiple industries for the better and brought about a paradigm shift in our financial systems. Now, with projects like BudaCoin coming into picture, cryptocurrencies are well on their way to target and change the $30B mindfulness industry to suit the needs of upcoming generations.