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Is Facebook the Next Facebook?

The metaverse is a virtual world where users can own their own land, play games and earn money. Popular metaverses include SecondLive, Decentraland and Axie Infinity. These virtual worlds are based on Ethereum blockchain technology and allow users to create and own their own digital assets. These digital properties are secured by the metaverse blockchain and can be traded for cryptocurrencies and fiat currency.

Companies such as Microsoft and Facebook are making investments in this new virtual world. Some are worried that such a development could allow centralized control of the metaverse and make it similar to social media. While the companies have not publicly commented on the rumors, some crypto fans are worried that a big tech giant will dominate the metaverse and become the next Facebook.

The metaverse was first introduced by science fiction author Neil Stephenson in 1992, but has since evolved through virtual reality, augmented reality, and cryptocurrency. Popular virtual reality technology first surfaced with Ernest Cline’s novel Ready Player One, which became a hit movie in 2018. In 2014, Facebook purchased the virtual reality platform Oculus and hardware company Rift.

The metaverse has the potential to become a new form of Internet addiction. For some people, this could lead to a severe break from real life, including their families and friends. It is important to be aware of this potential side effect and exercise self-control to avoid overusing the metaverse. Another risk is that entry hardware and software are expensive, and this could lead to increased inequality in wealth.