Leverage is dangerous but there’s always someone who says, “I CAN HANDLE IT.” And maybe they are right but because leverage is now at an ALL TIME HIGH for Bitcoin and the crypto market we are going to see MAX PAIN very soon.
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How Facebook and Microsoft Are Changing the Metaverse
A metaverse is a virtual world where users can own land in the form of tokens. In this world, users can play games to earn money and build their own communities. Popular metaverses include SecondLive, Axie Infinity, and Decentraland. In the game, Axies, which are non-fungible tokens, allow users to breed up to seven times and sell their offspring on a trading platform.
There is already a big push by Facebook and Microsoft to acquire virtual land, which would help them maintain control of their virtual properties. This new virtual world might become the future of gaming and social networking. But the question is how will this affect the current status of existing games in the metaverse? Many developers are concerned that large tech companies might become the dominant force in the metaverse, leading to a fragmentation of its users. In this case, the best way to avoid this is to develop a centralized metaverse for your game.
Citi GPS estimates that by 2030, there will be 5 billion users of the metaverse. The report noted that the downsides of the metaverse include money laundering, counterfeit NFTs, trading scams, and high volatility in most cryptocurrencies. Despite these downsides, big firms are well-positioned to capitalize on this trend. For example, Facebook recently announced that it will invest $50 million in research and development of virtual reality hardware and software. The social network giant plans to hire at least 10,000 people in Europe by 2022.