In tonight’s crypto news wrap up, Frankie Candles takes a look at the current happenings in the crypto landscape, including a major China bank run, Cardano’s hard fork being delayed, and why there is nothing more important than your health and wellbeing.
Charles Hoskinson Interviews:
https://youtu.be/s6sCx60z36U
https://youtu.be/1sACsKRUcaY
Timecodes:
0:00 Intro
0:18 Banks on the Run
2:22 Frankie
3:33 Fork in the Road (Green)
4:26 Stay Safe Stay Healthy (Pink)
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Facebook Changes Its Name to “Metaverse”
In 1992, Neal Stephenson used the term “metaverse” to describe 3D virtual spaces. Since then, the concept has evolved with the advent of augmented reality, virtual reality, and cryptocurrency. In 2014, Ernest Cline’s Ready Player One introduced the concept of virtual reality and the technology was soon adopted for use in the world of video games. Since then, Facebook has acquired the virtual reality hardware and platform Oculus. The future of the metaverse seems very bright.
In addition to blockchain, the Metaverse has many uses outside of gaming. Blockchain-based apps allow users to buy virtual land and play for money. Some popular metaverses include Decentraland, Axie Infinity, and SecondLive. The former is a gaming platform that uses a play-to-earn model, with gamers competing to earn crypto tokens by completing challenges. The second is a social network that enables users to share and trade items and virtual goods.
Several companies have already announced plans to explore the Metaverse. Popular companies, including Facebook and Google, have invested in the technology, including NVIDIA and Epic Games. VISA, a tech giant, has acquired the first NFT for $150,000 and other major companies have entered the fray. Coca-Cola and Gucci have also made moves into the metaverse, partnering with game creation system Roblox to sell digital accessories in the form of NFTs.
While Zuckerberg’s comments were surprising, the industry was made aware of the name change last week. Some tech giants have announced their plans to build a metaverse, including Facebook, and have rebranded the company as “Meta” or “Meta.” Despite this initial reaction, the change is expected to bring a number of new users and investors to the cryptocurrency space. The industry is eagerly awaiting the future of this technology, but a name change is not a sure thing.
