In this video, Raoul Pal discusses how well crypto has been doing given the circumstances and the current market. Check out the full video on our YouTube channel for more about the state of crypto in 2022!
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Facebook’s Metaverse Becomes a Virtual World
Facebook has made a decision to shift its focus from the real world to the virtual world and rebranded as Meta this week. The move is the result of Zuckerberg’s desire to make the most of virtual and augmented reality technologies. The Metaverse will allow users to own their own virtual land in a blockchain-based environment and play for money. Some of the most popular metaverses include SecondLive, Axie Infinity, and Decentraland. These virtual worlds utilize the Ethereum blockchain and their proprietary Axie tokens, which can be purchased and sold on the gaming platform.
The Metaverse is a distinctly virtual world, which is why it’s been able to gain widespread consumer interest. Many tech giants like Microsoft and Facebook have become involved in this venture, and the company behind it, Animoca Brands, has partnered with these companies to host the metaverse. Animoca Brands is the company behind the popular mobile game The Sandbox. It also is a major shareholder of NBA Top Shot creator Dapper Labs and CryptoKitties.
Facebook and Google are also building their own metaverse. The companies hope to offer Teams users the ability to visit virtual worlds in 2022. Microsoft also plans to integrate blockchain technology into their virtual world. A metaverse can be made up of a combination of software and hardware, data centers, and virtual worlds. Aside from the benefits of virtual worlds, there are concerns surrounding security, privacy, and access management. It’s still unclear exactly how the technology will be used in real life, but it’s certainly an exciting prospect.
