It’s crazy to think that people would be influenced to spend their Bitcoin instead of holding it as a store of value. In this video, Ben explains why Bitcoin is digital gold.
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Facebook’s Investment in the Metaverse May Be Good For Crypto
Facebook’s upcoming metaverse project isn’t without its own issues. With criticism over fake news, hate speech, and privacy, the social media giant has been criticized in many ways. Although Facebook has said it will build its metaverse responsibly, critics question its commitment to privacy and open collaboration with outside firms. In fact, some crypto-community players have labeled it a threat to the Metaverse. But Facebook’s investment may not be all bad news.
While its development is still in its early stages, the concept of a virtual world combines augmented and virtual reality, 3D holographic avatars, and video. The end result will be a hyper-real alternate universe. Already, inklings of the metaverse exist in many online gaming universes. The corporations behind these games have made it their mission to create a virtual world for their players. However, the concept of persistent ownership remains unclear.
While the technology needed to build the metaverse is still in its early stages, some companies are already making their mark in virtual space. One such company is Decentraland, which sold a digital plot of land for $2.43 million. Another one is Epic Games, which recently announced a $1 billion funding round. It’s important to note that these companies will require massive amounts of capital to build their metaverses. Hopefully, these investments will create a global community where users can work and play together.
The future of the metaverse is not far off. Entrepreneurs will drive its future by offering useful services and creating content. It will be up to them to monetize these services efficiently. One idea is to issue non-fungible tokens for hour sessions. This way, online cinemas can issue tokens for a time period to allow people to watch films. Alternatively, these tokens can be used for event passes to a virtual planet.