Times are tough for all businesses, as the economic downtime and indefinite quarantine put strain on enterprises around the world.

Within the cryptoconomy, there are additional complications since the market downturn can depress the value of native tokens, shortening the runway available to project teams.

It’s not all doom or gloom though. In many ways, the industry is better prepared than other sectors for the storm. Crypto companies are more inclined to work remotely, and are accustomed to convening in virtual space rather than meatspace. While the pandemic seals the fate of banknotes and accelerates the transition to digital cash, cryptocurrency is already a step ahead. Crypto projects delivering products that solve real world problems – and that can adapt to the changing times they find themselves in – will make it out the other side intact. The following four projects exemplify what it takes to survive this crisis.

Matic Network

There are two ways businesses can adapt to this new paradigm: by focusing on what they do best, or by directly attacking the problem itself – Covid-19. Matic is doing both, adding new partnerships and integrations to its Ethereum scaling solution, while donating to Binance’s Covid-19 charity. The crypto companies that survive the current downturn will do so because they’re adding tangible utility, rather than mitigating against arcane theoretical threats. Matic is easing the strain on crypto networks such as Ethereum and solving a major pain point, particularly during times of market volatility, when on-chain gas prices can soar and transactions take hours to confirm.

Matic Network and @Binance Chain Alliance will join hands in the fight against the #COVIDー19 pandemic.

Our donation will be used to help regions that have been drastically affected. Together, we’ll get through these difficult times 🙏 pic.twitter.com/jLe1xgbPy8 — Matic (@maticnetwork) March 23, 2020

MiL.k reward point integration platform

MiL.K Alliance is a reward-point integration platform that makes it easier and more lucrative for customers to participate in the mileage economy. The idea is that users convert loyalty points and frequent flier miles into MLK tokens, which can in turn be redeemed by purchasing from any Alliance partner – airlines, hotels, duty free shops, restaurants, airport taxi companies, etc. Although the industry is currently suffering due to travel bans, MiL.k is at the formative stages and should capitalize on the inevitable market rally when lockdowns eventually lift. Particularly as the global market for loyalty programs is expected to hit $201 billion by 2022.

FunFair online Casino

While it hasn’t survived a pandemic before, online casino platform FunFair is a veteran in the digital gaming space, having emerged unscathed from several bear markets. Even before the current outbreak hit, CEO Stefan Kovach was predicting that 2020 would be the year that blockchain casino gaming went mainstream, and with many countries now on lockdown, sports betting suspended, bricks-and-mortar casinos closed and digital currencies providing a convenient way for bored players to have a flutter, it could be even more of a banner year than he expected. At present, the Dublin-based firm is busily working on outsourcing its blockchain-powered gaming tech to other online platforms, many of which have enjoyed a significant spike in volume of late.

FTX derivatives exchange

Hong Kong-based crypto derivatives exchange FTX launched less than a year ago, but it’s already entered the top five futures exchanges based on traded volume. Industry heavyweight Binance has a minority stake in the exchange, which offers futures, options and perpetual contracts on around 30 digital assets. FTX recently launched futures contracts, enabling investors to trade on the outcome of the upcoming U.S. Presidential election – a move that is almost certain to be copied by competitors. A combination of strong fundamentals, a well-performing API, and serious investor interest mean it is likely FTX will emerge from the current crisis in a very good position.

The economic impact of Covid-19 continues to reverberate, but the aforementioned companies are successfully navigating the choppy waters. No matter how dire the circumstances, it seems, innovation and expansion are still possible.

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