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Facebook Invests $10 Billion Into the Metaverse

Several corporations are looking to control the Metaverse. One of these is Facebook. They announced this week that they will invest $10 billion into the Metaverse this year.

The Metaverse is a virtual reality platform that is facilitated by augmented reality headsets. This means that users will be able to interact with other people in different places, regardless of time. It is also designed to increase social connection.

This platform also includes a marketplace and digital currency. The currency could be used across various apps and services. It also helps create a more immersive gaming experience.

The Metaverse is based on blockchain technology, which facilitates creation of NFTs (non-fungible tokens) and digital ownership. These tokens can be a virtual land, trading cards, or in-game collectibles. It also helps secure data and digital assets.

It’s important to note that the Metaverse is still in its infancy. This means that the crypto market is still relatively small. However, several brands have already built in-house marketplaces for cryptocurrencies.

One example of a cryptocurrency within the Metaverse is The Sandbox project. This is a decentralized virtual world based on the Ethereum blockchain. It combines gaming with social spaces without the supervision of a central authority. The community is already growing.

Another example is Decentraland. This virtual world is decentralised and allows users to monetize time spent in the Metaverse. Players can purchase land tokens that can be traded for other currencies. They can also purchase Sorare cards which are available for purchase with Android Pay and Apple Pay.