Animoca Brands is working with Bored Ape Yacht Club to build their Metaverse and has a portfolio of over 150 different blockchain projects. Can Animoca Brands have a major impact on the crypto outlook?
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What is the Metaverse?
What is the Metaverse? Well, this is a new virtual world which mimics aspects of the physical world using VR, augmented reality, artificial intelligence, social media, and digital currency. In the future, we may even see governments expanding their sphere of influence into this realm. One country, Barbados, has indicated it wants an embassy in the metaverse. Bill Gates, the creator of Microsoft and other large companies, has predicted that most meetings will be conducted in this new virtual world within three years.
The metaverse is a virtual universe created by the creators of video games. It is the fourth wave of computing. Some games already contain this virtual world, although it is very crude. One example is Fortnite, an online shooter game where players interact with avatars of other players. As you play, you earn virtual currency that unlocks avatar customization. Eventually, your avatar may travel from one game to another. However, for now, this new world will remain a rumor.
The Metaverse has a full economy, which means people will be able to own digital goods, trade real estate, and invest in speculative assets. As a result, jobs will likely be created within the Metaverse, and the currencies used will be equivalent to real-world money. However, there are naysayers. They note that the road map for the metaverse is incomplete, and they argue that Big Tech companies have not yet figured out how to control misinformation and hate speech. If this happens, it will be tough to stop cyberbullying and hate speech.