In your nightly crypto news wrap-up, we bring you the top crypto stories. Microsoft teams up with Meta, The SEC wages war against the Bored Ape Yacht Club and stick around to the end if you want to know how many more Americans are invested in crypto despite us being in a bear market?
What We Discuss:
0:27 Microsoft and Meta Team Up?
2:08 Market Watch
3:53 SEC’s Next Victim
5:22 Mass Adoption on The Rise
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What is the Metaverse?
The metaverse is a virtual world where humans can interact with AI avatars and create new friendships. The technology behind the metaverse is both new and exciting. Its benefits range from enhanced security to new forms of entertainment. It can be a new form of internet addiction. It can also lead to people losing contact with real-world friends and family. This is why it is important to practice self-control and cut invisible ties as much as possible.
Some of the most popular metaverses allow users to build virtual land and play games for money. These games include Decentraland, Axie Infinity, and SecondLive. SecondLive is an example of a metaverse built on the Ethereum blockchain. Users can create avatars, known as Axies, with over 500 different body parts. They can then breed with other Axies, and if they’re lucky, they can produce offspring that can be sold on the platform.
Several major companies are getting into the metaverse, including Microsoft, NVIDIA, and Epic Games. VISA has already bought the first NFT for $150,000, and popular brands like Gucci have entered the fray. The luxury brand collaborated with online game platform Roblox, and is selling digital accessories that players can trade for virtual NFTs. Coca-Cola is also selling digital tokens that can be used in the metaverse.
Facebook and Google have stakes in the metaverse. Both have plans to use it to expand their production capabilities and have employees collaborate in a digital environment. However, states are still trying to regulate the technology. This could make the metaverse war between ecosystems.