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Facebook Invests $10 Billion Into the Metaverse
Earlier this week, Facebook announced that it would invest $10 billion into a new virtual reality platform, Metaverse. The platform will allow users to create digital avatars and interact with one another in a shared virtual world.
Facebook believes that the metaverse will be the next evolution of social media. The platform will use blockchain technology to power the network. It will also support cryptocurrencies and NFTs.
There are a few major corporations that are vying for control of the metaverse. These include Facebook, Google, and Microsoft. In addition, there are some prominent figures in the crypto space who share Zuckerberg’s view.
Raoul Pal, a former hedge fund manager, is an outspoken crypto enthusiast. He is also an investor in Decentraland, a popular metaverse that uses blockchain technology. He recently wrote an article expressing his hopes for the future of the crypto world.
Several larger firms have begun marketing on Decentraland. It’s a relatively new metaverse, and there’s a small user base.
It’s important to understand how a metaverse works before making an investment. Some of the cryptocurrencies that are available in the metaverse are volatile. Some have fallen to recent lows.
Many brands have created in-house marketplaces for cryptocurrency. Others have built in-game collectibles, NFTs, trading cards, and virtual lands. These NFTs are used to incentivize users to use the platform. They can be sold in the real world for real-world value.
Another important point to consider is the adoption rate of the metaverse. The success of a decentralized autonomous organization depends on its platform and gaming preferences.