In this video, we will discuss the price of Bitcoin, Ethereum, and the top altcoins. We’ll take a look at the cryptocurrency markets and the latest crypto news.
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Microsoft and Facebook Entering the Metaverse
There’s a lot of buzz surrounding the Metaverse and its potential to disrupt traditional business models. Facebook, for example, has rebranded itself as “Meta” and token prices skyrocketed. Microsoft is also looking into entering the metaverse space. The company recently unveiled “MetaCity,” which is inspired by the popular Minecraft game. It is a free-to-earn NFT city where players can develop different types of businesses and earn tokens.
While the Metaverse is still in its infancy, it has already seen massive cultural adoption. For example, the video game Fortnite has 350 million users, and it hosted Travis Scott’s virtual concert for 12 million fans. The idea behind the metaverse is to create a global online community where people can communicate and share ideas. The virtual world could even be accessible through VR headsets, which are increasingly becoming popular for gaming.
A big part of the Metaverse revolves around blockchain technology, which enables users to create and own objects and worlds. One such world, called “Decentraland,” was created on Ethereum, and users can purchase land tokens, effectively non-fungible tokens. The decentralised environment allows users to freely behave and has no central authority. In addition to land ownership, the Decentraland blockchain platform has other features such as games, social spaces, and other activities.
Facebook also plans to launch a series of metaverse units, including VR hardware called Cambria, and an update to its AR platform Spark. This is a significant step for Facebook’s metaverse, because it’s expected to create a new virtual economy, encompassing hundreds of billions of dollars in digital commerce. It also promises to create jobs for millions of creators.
