In this video, Ben introduces the idea that Bitcoin and the S&P 500 are not exactly correlated. Although both charts look similar at first glance, the gaps in the charts tell a much different story for Bitcoin.
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What is the Metaverse?
If you’ve been curious about the Metaverse, it’s a great time to be reading this article. The first thing to understand about the Metaverse is what it is. It is a decentralized virtual world where users create, interact, and monetize. However, despite its many benefits, it also comes with some challenges. For example, centralized actors could take over the Metaverse and turn it into an app store. This could lead to a loss of decentralization and its attendant benefits.
While many companies and analysts believe that the Metaverse will essentially be a virtual world, the reality is quite different. Many of the early investors in the Metaverse have backed projects that use blockchain technology. Animoca Brands, for example, was the first to adopt blockchain technologies. After struggling through the dotcom bubble, the company faced regulatory pressure and financial difficulties when it started dealing in cryptocurrencies. However, the company has since turned its attention to foundational blockchain technologies and internal product development to grow their business. In addition, the company has invested in non-fungible tokens – a type of cryptocurrency which authenticates ownership and stores value on a digital ledger. As of December 20, 2021, this sector’s trading volume topped $21.7 trillion.
The concept of a metaverse is still very much in the early stages. Several industries are already using the technology to engage others and share information. While the technology is not completely clear, the Metaverse is envisioned as a virtual environment accessible to people who use virtual reality headsets. As the first stage of the development of this technology, it’s not clear whether the virtual worlds will be primarily used for gaming or for other purposes.