Today we will be discussing congress voting to confirm Jarome Powell for a second term as Federal Reserve Chair and what that means for the economy going forward. Next we’ll look at the new Texas law that will allow for social media companies to be sued., and last we’ll talk about FTX’s Sam Bankman-Fried taking a $650M stake in Robinhood.
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Facebook Will Support NFTs in the Future
Recently, Facebook CEO Mark Zuckerberg talked about the “metaverse” during his company call. He called Facebook a “metaverse company” and the social media giant’s new role as a metaverse company. While the term has been around for years, Zuckerberg started using it publicly only recently. Metaverse is a concept in which users can interact with digital and physical worlds in a multidimensional way. In addition, the metaverse could become a popular way to create virtual reality experiences.
Facebook CEO Mark Zuckerberg has been optimistic about the future of the metaverse, predicting that it could be as big as the mobile internet. The CEO has also teased that Facebook will support NFTs in the future, and earlier this week announced that it would invest $10 billion into Metaverse this year. Zuckerberg’s optimistic outlook is not the only one who has jumped on the metaverse bandwagon. Others in the crypto world, such as Raoul Pal, have expressed similar views.
Animoca Brands is a unicorn among metaverse companies. It has raised $810 million in the last two years. The company has partnered with metaverse VC specialist Liberty City Ventures, Winkelvoss Capital, Soros Fund Management, and Boyu Capital. In January alone, the company raised $360 million, resulting in a valuation of $5 billion. The company is poised to use this capital to further its mission of bringing people together through the power of virtual reality.