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Last week, the&nbsp;<a href="https://www.theguardian.com/technology/2022/nov/18/how-did-crypto-firm-ftx-collapse?utm_source=1851franchise.com&utm_medium=article&utm_campaign=how-the-collapse-of-ftx-could-impact-the-future-of-cryptocurrency-in-franchising-2720434" target="_blank" rel="nofollow">failure of crypto exchange FTX</a> shocked the industry and made many experts wonder whether the end of cryptocurrency had finally arrived. The $32 billion company fell into bankruptcy basically overnight, coinciding with broader headwinds facing the tech industry due in large part to rising interest rates. Tech stocks have crashed, and nearly 800 tech companies have&nbsp;<a href="https://1851franchise.com/amazon-joins-long-list-of-tech-companies-laying-off-employees-opening-up-more-opportunities-for-franchisors-and-franchisees-2720377">laid off</a> more than 120,000 workers this year.&nbsp;<figure class="media"><div data-oembed-url="https://www.youtube.com/watch?v=AbgRB3arCpY"><div class="iframely-embed"><div class="iframely-responsive"><iframe src="//cdn.iframe.ly/api/iframe?app=1&amp;api_key=fd3b6b3731f34f55ba1fe3&amp;url=https%3A%2F%2Fwww.youtube.com%2Fwatch%3Fv%3DAbgRB3arCpY" frameborder="0" allow="autoplay; encrypted-media" allowfullscreen=""></iframe></div></div></div></figure>Over recent years, as interest in the blockchain gradually increased amongst the general public, several franchisors dipped their toes into the space by accepting Bitcoin as payment for franchising fees or offering limited&nbsp;<a href="https://1851franchise.com/dominos-wants-you-to-embrace-the-noid-through-its-nft-auction-2715971">NFTs to customers</a>.&nbsp;In April, for example, the fitness franchise&nbsp;<a href="https://sendmeatrainerfranchise.com/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=how-the-collapse-of-ftx-could-impact-the-future-of-cryptocurrency-in-franchising-2720434" target="_blank" rel="nofollow">Send Me A Trainer</a>&nbsp;<a href="https://www.prnewswire.com/news-releases/send-me-a-trainer-is-the-first-franchise-to-adopt-nfts-301524642.html?utm_source=1851franchise.com&utm_medium=article&utm_campaign=how-the-collapse-of-ftx-could-impact-the-future-of-cryptocurrency-in-franchising-2720434" target="_blank" rel="nofollow">announced</a> that new franchisees would receive a complementary NFT in celebration of their investment. Chicken franchise&nbsp;<a href="https://chickncone.com/franchising/?utm_source=1851franchise.com&utm_medium=article&utm_campaign=how-the-collapse-of-ftx-could-impact-the-future-of-cryptocurrency-in-franchising-2720434" target="_blank" rel="nofollow">Chick’nCone</a> launched the minting of their NFT&nbsp;<a href="https://www.restaurantbusinessonline.com/financing/why-fast-casual-chicken-chain-selling-nfts-14500-piece?utm_source=1851franchise.com&utm_medium=article&utm_campaign=how-the-collapse-of-ftx-could-impact-the-future-of-cryptocurrency-in-franchising-2720434" target="_blank" rel="nofollow">Chick’nCOIN</a> in February, which gave investors the opportunity to receive a portion of the franchise fees and royalties paid by the owner of a Chick’nCone restaurant opening in a particular trade area.Now, with&nbsp;<a href="https://www.livemint.com/market/cryptocurrency/bitcoin-prices-down-75-from-highs-cryptocurrency-crash-explained-11668054007245.html?utm_source=1851franchise.com&utm_medium=article&utm_campaign=how-the-collapse-of-ftx-could-impact-the-future-of-cryptocurrency-in-franchising-2720434" target="_blank" rel="nofollow">Bitcoin prices down 75%</a> lower than their previous all-time high, many franchisors who were on the fence about entering the world of crypto may be wise to wait and see how everything plays out.&nbsp;Related articles:<ul><li><a href="https://1851franchise.com/how-nfts-are-making-their-way-into-the-restaurant-space-2720032#stories">How NFTs Are Making Their Way Into the Restaurant Space</a></li><li><a href="https://1851franchise.com/mcdonalds-offers-free-nfts-to-celebrate-the-40th-anniversary-of-the-mcrib-2717024#stories">McDonald's Offers Free NFTs To Celebrate the 40th Anniversary of the McRib</a></li><li><a href="https://1851franchise.com/amazon-joins-long-list-of-tech-companies-laying-off-employees-opening-up-more-opportunities-for-franchisors-and-franchisees-2720377">Amazon Joins Long List of Tech Companies Laying Off Employees, Opening Up More Opportunities for Franchisors and Franchisees</a></li></ul>

How the Collapse of FTX Could Impact the Future of Cryptocurrency in Franchising 

1851 Franchise

Although some brands were experimenting with how crypto and NFTs could play a role in franchise and royalty fees, the trend may become less popular as Bitcoin prices continue to drop rapidly.

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Preservan

Preservan Celebrates First-Ever BrightPath Gathering: Lighting the Way for Community and Sustainability

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Voodoo Brewing Co.

From Bartender to Brand Builder: How Matthew Hass Is Shaping the Future of Voodoo Brewing Co.

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Woodhouse Spas

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Expanding Woodhouse Spas Franchisees Prove Growth Is in the Details

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From Small-Town Vision to National Wellness Brand: Milestones That Shaped Woodhouse Spas

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HomeTeam Inspection Service

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The Future of Home Inspection: Balancing Technology and Expertise at HomeTeam

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How the Collapse of FTX Could Impact the Future of Cryptocurrency in Franchising

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