Today we will be discussing recent surges in Bitcoin derivatives Volume and Open interest, how will Bitcoin react!? Next we’ll look at Elon Musk’s alleged purchase of Twitter now set to move forward, and last we’ll talk about recent exploit to the official Beeple NFT discord server!
Around the Blockchain is your favorite Cryptocurrency show discussing Bitcoin, Ethereum, Cardano, and the top altcoins. Our four crypto experts Mac, Joe Parys, Megbkz, & Ben Armstrong. Tune in for their insightful crypto analysis.
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What is the Metaverse?
In 1992, the term “metaverse” was coined by science fiction writer Neal Stephenson to describe the idea of a virtual space where people could interact with each other. Since then, the concept has taken on many forms, including cryptocurrency, virtual reality, and augmented reality. In 2018, the movie “Ready Player One” made virtual reality a hot topic. And in 2014, Facebook purchased virtual reality hardware and software developer Oculus.
In a metaverse, people inhabit their own virtual space and interact with other people through an online avatar. These avatars have the ability to move, speak, and act freely, and they can also buy and sell virtual property, including virtual land and objects. The underlying cryptography of the metaverse facilitates the digital economy and facilitates virtual representations of legitimate ownership.
In many blockchain-based games, users purchase land and participate in a variety of activities. In some of these games, users earn money by competing against each other, building their empires, and taking part in tournaments. Some games even allow players to participate in voting on the treasury fund of the community. Users can also stake their assets for prizes. As the popularity of these games grows, more companies are deciding to enter the metaverse.
The technology used to support the metaverse economy is also becoming mainstream. Blockchain technology secures digital assets and data and incentivizes users to participate in commerce and trade. Internet of Everything technology makes it easier to connect devices and networks. 3D innovation, in particular, creates more realistic interfaces and a more immersive gaming experience.