0.5% FED Rate Hike! (WARNING: INFLATION Is Not Done Climbing)

Around the Blockchain is your favorite Cryptocurrency show discussing Bitcoin, Ethereum, Cardano, and the top altcoins. Our four crypto experts include Altcoin Daily, WendyO, Mine Your Biz, & Ben Armstrong. Tune in for their insightful crypto analysis.

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Is the Metaverse the Future of Crypto?

In recent months, more people are discovering the benefits of the metaverse. According to Citi GPS, there are five billion people who will use the metaverse by 2030. The dark side of this industry is money laundering, counterfeit NFTs, and trading scams. While it is difficult to predict which crypto projects will succeed, there are many risks associated with these new technologies. Whether or not the metaverse will become an economic powerhouse is still unknown.

One early adopter of blockchain technologies is Animoca Brands. The company has raised $810 million in the last two years, including from metaverse VC specialist Liberty City Ventures in New York. Other investors include Soros Fund Management, Winkelvoss Capital, and Boyu Capital. Last year, the company raised $360 million in funding, valued at $5 billion. Moreover, the company has received significant press coverage and attention for its role in the metaverse.

The metaverse is a conceptual universe consisting of open worlds and settings. The assets within the metaverse will be interoperable. For instance, people who collect NFT assets could convert them into 3D avatars for social interactions. Microsoft may be the company’s biggest competitor, with Mesh for Microsoft Teams allowing users to work and collaborate in a 3D holographic environment. Holoportation, on the other hand, allows users to enter the digital world with a VR headset.

Other notable investments in the crypto space include Decentraland and The Sandbox. While these projects are largely hypothetical, the metaverse has the potential to be a hugely profitable venture. Despite the recent dip in cryptocurrencies, many crypto companies are putting their money behind the metaverse, including the creators of Fortnite. Roblox has also publicly stated its vision for the metaverse, predicting that millions of 3D experiences will be created by users.

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