Today we will be discussing U.S. Treasuries hitting their highest levels in 12 years and how it could affect the price of Bitcoin in the coming weeks. Next we’ll look at the new Bitcoin mining facilities and mergers taking place on the network, and last we’ll talk about Warner Music partnering with OpenSea to drop artist related NFTs.
Around the Blockchain is your favorite Cryptocurrency show discussing Bitcoin, Ethereum, Cardano, and the top altcoins. Our four crypto experts Crypto Blood, Mineyourbiz, Crypto Lifer, & Kelly Kellam. Tune in for their insightful crypto analysis.
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Facebook, Roblox, and the Metaverse
The Metaverse is a virtual world where users can interact with others using their online avatars. This enables users to engage in free speech, action, and movement. In addition, users can own virtual property and sell or exchange it for non-fungible tokens. This could provide an entirely new way for people to socialize.
In order to enable this, many brands have created their own in-house marketplaces to incentivize users to spend money on a virtual land or trading card. Several metaverse projects use blockchain technology to power these transactions. For example, the Sandbox project is using cryptocurrencies to make it easier for users to trade virtual goods in-game.
As the Metaverse develops, Facebook is one of the leading companies dipping its toes into this growing technology. The company, rebranded as Meta, is building a VR social platform centered around the Metaverse. Another company, Roblox, is facilitating the development of user-generated video games. Nevertheless, there are many concerns surrounding the Metaverse.
After Facebook’s announcement that it would rebrand as Meta, crypto investors are scrambling to invest in Metaverse-focused crypto projects. The social network explained that it would shift its focus from traditional social media to developing the Metaverse. Among these projects is Decentraland, whose token has risen 46% since the announcement.