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The Future Of Off-Ramping

How on-chain assets and value will converge with off-chain day-to-day financial demands

Crypto adoption is exploding all over the world. Especially in developing countries: unpredictable inflation, rapidly changing exchange rates, and antiquated banking systems drive people to embrace crypto as an investment and a form of currency. The utility of crypto has recently expanded to facilitate a new form of the internet — Web3. In Web3, users are transformed into “digital owners” who own and govern the internet instead of relying on big corporations for services.

Digital ownership is leveraged as a building block for true global change. By jumpstarting digitally “owned” communities around gaming(GameFi), online labor and values (DAOs), and finance (Defi), Web3 is creating a more equitable and opportunity-driven rich global economy. Play to earn, freelancing, bounty hunting, DAO contribution, and Defi are examples where Web3 is driving a globalized economy. In this new paradigm, merit is rewarded first.

Let’s look at some examples: the play-to-earn blockchain gaming industry grew by over 2000% in 2021. DAO treasury AUM grew from 0.6 billion to over 11 billion, around 2600%, just in 2021. And global crypto adoption grew by around 880% in 2021. Much of this growth, however, depends on railways that are still highly fragmented.

There is an immense gap between digital ownership and how it translates into real-world usage and utility. This new form of work, where one is awarded tokens for labor, is detached from day-to-day financial demands. Converting digital assets into fiat currencies involves Web3 literacy, tedious manual work, high fees, low speed, and too many intermediaries to count (like banks and centralized exchanges). Another problem that arises from the reliance on banks and CEXs is access. As in the case of underage participants who do not own a bank account or a CEX account.

Participation in on-chain economies is set to accelerate even more with high rates of unemployment, low local wages, and failing economies leading people, especially young adults to scour the web for financial opportunities. This is widely observed in Nigeria, India, Pakistan, Vietnam, the Philippines, and many others.

Until recently, high gas fees and low speeds of blockchain networks prevented the creation of sophisticated solutions to bridge on-chain ownership and local fiat. Now, with layer 2 scaling solutions and new blockchains like (Solana, Aptos, and Sui) — innovations in the off-ramping of digital assets are on the horizon.

At Hypermatter Labs, we build novel crypto tools to merge on-chain assets and value with local fiat. AirPay, our first product, bypasses and solves all the above-mentioned problems. Using AirPay, individuals and organizations alike can seamlessly pay for merchandise and services with their on-chain assets at any POS. We take the risk and effort to work with on-chain assets and provide users with credit in the form of local fiat. We collaborate with gaming studios, Defi projects, and DAOs to embed/integrate our protocol into their dashboards. This would create a smooth off-ramping experience. The only thing required from the user is to download our app and connect his on-chain wallet.