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The Future of the Metaverse

The future of creative economies is rooted in the development of new technologies such as the metaverse. Facebook founder Mark Zuckerberg acknowledged the metaverse’s potential in unleashing a massively larger creative economy. The company will accelerate the development of fundamental technologies that will power social platforms and creative tools, and will weave metaverse technologies throughout its social media apps. In this article, we’ll explore the future of the metaverse. In addition to bringing new creative economics to the forefront, metaverse technologies will also enable companies to improve their products and services.

Blockchain-based apps have made metaverses popular. Users can purchase virtual land, participate in games, and earn virtual currencies by playing. Some of the most popular metaverses are SecondLive, Axie Infinity, and Decentraland. Each uses the Ethereum blockchain to power their platform. Axies, the non-fungible tokens on the platform, are constructed from more than 500 body components. In Decentraland, Axies can breed up to seven times, with the offspring being sold on the platform.

Eventually, the metaverse will be a collection of interoperable assets, which can be shared with other users of the virtual world. Facebook recently announced plans to develop a digital space, renaming its social network Meta. It will allow people to work, communicate, and relax in a virtual space parallel to real life. The concept of the metaverse has already caught the attention of tech gurus, including Mark Zuckerberg. In fact, Facebook recently announced $50 million to fund research into the metaverse. Facebook also plans to hire thousands of people in the European continent in the next five years.

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