We think there’s a strong chance we’ve found a bottom at this point. So, we’re at point where we feel good about aggressively adding positions. This week we added ALGO and LINK for the 25k portfolio.
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The Metaverse – Facebook’s Next Big Thing
Among the tech community, the Metaverse is one of the buzziest concepts of the last few weeks. Facebook’s decision to rebrand its social network as “Meta” has catapulted the concept into mainstream consciousness.
Meta’s parent company, Facebook, has announced plans to build a digital space utilizing augmented and virtual reality technologies. This would enable users to engage in virtual worlds in real time.
The Metaverse will be a social platform for businesses to expand their markets. It will also allow customers to discover and purchase products.
Meta’s CEO, Mark Zuckerberg, has laid out a long video discussing the company’s vision for the future. He says the Metaverse will be a single, centralized virtual world that will be accessible through virtual and augmented reality headsets. He envisions a new type of internet addiction.
In terms of the technical side of things, a metaverse is a virtual space populated with avatars and decorated with non-fungible tokens (NFTs) and other technological innovations. In a sense, it’s an iteration of the internet, using cryptography to facilitate virtual representations of legitimate ownership.
While the Metaverse may be the next big thing, it’s not yet clear what exactly it will accomplish. Some analysts have argued that it will disrupt the digital economy while others have predicted that it will be a scam.
The best part about the metaverse is that it will be free to use. Some companies will build NFTs and other collectibles to incentivize users to enter the system.