Facebook’s Metaverse Will Include Crypto Tokens
Despite its infancy, the metaverse is being touted as the next evolution of social media. Facebook recently signaled a massive hiring push for its metaverse unit.
The metaverse will be accessible through virtual reality headsets, desktop computers, mobile devices, and game consoles. It will allow users to build their own virtual universe and interact with friends and strangers in the real world. It also will allow businesses to expand their market reach.
Facebook is reportedly planning to support non-fungible tokens (NFTs) in its metaverse. These are digital assets that allow users to move assets between different platforms securely. NFTs can also be in-game collectibles or trading cards.
Some of these assets will be game tokens, land tokens, passes to closed clubs, and event tokens. These tokens can also be purchased with Apple Pay or debit or credit cards.
These tokens will be used in the Facebook metaverse, and they are expected to be used as a means to buy and sell virtual objects and to buy and sell land. These tokens will also be used to participate in tournaments, vote on community treasury funds, and engage in matches.
This type of play-to-earn model is ideal for the digitally decentralized economy. In this model, there is no central authority, and the entrepreneur will be responsible for creating content and services. This will help to build the metaverse, and the entrepreneurs will do useful things for the metaworld.
Some of the biggest brands in the world have already begun to explore the metaverse, including Microsoft, NVIDIA, and Epic Games. Many of these brands have built in-house marketplaces for NFTs, and they plan to use the tech to incentivize users to participate in the metaverse.