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Over the years, the cryptocurrency market has been nicknamed the "Wild West" throughout the financial world. In that ecosystem, an entirely new generation of teenage investors could be today's fortune hunter.
It is the year 1848 and the rivers of California remain full of opportunity. Swarms of seekers line the banks. Several left everything they knew for the promise of getting rich.
The towns were flooded with hope. Which were once small settlements all over the Sacramento water flow, morph into bustling shopping malls. The usual supplies, which are used for the extraction of gold, fly off the shelves and invent shortages. Individuals do nothing and crash, or find gold and their lives change for life.
Today, critical aspects of mining continue to resurface in the United States and internationally. However, miners are not currently looking for gold nuggets. Mining cryptocurrencies like Bitcoin and Ethereum is the latest trend with lucrative prospects.
At present, territories such as the USA and Iceland are global mining centers. Mining organizations keep moving and setting up shops. Mining groups remain fashionable in the market and are even prohibited in certain territories.
Since Bitcoin bears the title of “digital gold,” Generation Z (GenZ) teen hodlers have a chance to be the gold miners of the up-to-date age. However, this generation is not only getting rich monetarily.
Those in this demographic possess the inherent richness of growing up with the creations of Web 3. They are likely to be originating from blockchain-based DAOs and resolutions.
A vision of the GenZ
Samantha Marin considers herself part of the next generation of digital natives. She graduated from hers as a "pandemic student" and traveled to the Web 3 space as the writers' guild scout for Bankless DAO.
Marin argues that, for many in Generation Z society, cryptocurrencies are a “life raft” from a period of school debt, rising inflation, and rising house prices:
"There are tons of articles online about how millennials are poorer or worse off than their parents, yet no one has written much about what will happen to Gen Z. We see cryptocurrencies as our way out."
Although a significant part of the foundation of the crypto space is being built by her predecessors, Marin speculates that Generation Z will adopt it en masse.
This new generation is already capitalizing on their affinity for social media and the power of influencers to bring their peers together. Influencers like "MissTeenCrypto" use their nearly 35,000 Twitter followers to "spread crypto and NFT adoption to Gen Z."
Additionally, cryptocurrency and digital asset services distributor MEXC Universal designed a sequence of mini-podcasts called “Gen Z Talks Crypto,” especially targeting this demographic. The Gateway for GenZ is the unique way they know: connected through the ever-evolving metaverse.
The power of society
Reports continue to appear about the power of Generation Z's existence on the Web 3. The now-declared Internet-native generation became even more familiar with online society through the digitization of the entire world through the universal pandemic disease.
Societies in which one had a physical presence moved online. The only way to subvert the dominant classical power constructions was decentralization. According to Marin:
“Crypto and Web3 companies are relevant for this generation because at the moment we do not have the possibility to trust our own regulators, politicians and business leaders to build what we require; It is not the fault of one person. It's just that our own systems are quite slow and with bottlenecks. "
Additionally, Web3 empowered the next generation to solve apparent social problems through their own partnerships:
“We need access to medical insurance that is not linked through our own employers; there is a DAO for that ”.
Later Marin underlines:
“It is essential that there is pressure on organizations to emit less greenhouse gases; there is a DAO for it. We require to market parts of culture and public interest that previously were kept in the hands of private art collectors; there is a DAO for it ".
If Gen Z continues to rapidly adopt Web3 technologies, as Marin and others point out, the individuals who require them most have the ability to possibility of generating resolutions.
A digital virtue
This new generation has an open door to new ways of accumulating wealth. Getting rich for this next generation doesn't even mean being a Dogecoin millionaire.
While this may be true for certain, en masse, the wealth of benefits and freedoms of decentralized systems are even more important:
"If crypto regulations don't try to shut down the industry, GenZ will start our own wealth-building years off on the right foot, as Millennials have had to start their wealth-building years around the housing collapse."
Marin commented that several of the greatest benefits of the generation to build space are "time and the lack of monumental life commitments."
