CRYPTO NEWS: Latest BITCOIN News, ETHEREUM News, DEFI News
Bitcoin traded at US$24,136 at 8 a.m. in Hong Kong, down 0.8% in the prior 24 hours. Ethereum lost 1.7% to change hands at US$1,904, losing further ground after recently breaking through the US$2,000 ceiling, according to data from CoinMarketCap.
BNB, the token issued by Binance, bucked the trend, gaining 0.6% to US$319.
Dogecoin fell 6.% to US$0.07 while Shina Inu token was down 9.6% to US$0.0000153, erasing some of the gains the two largest memecoins by market cap made on the weekend.
Sports and entertainment-focused network Chiliz jumped 7.5% to US$0.19, marking a 29.7% raise for the week.
This follows the announcement that FC Barcelona has secured additional investment for its Web3 development branch, Barca Digital Entertainment, which is partnered with Chiliz-powered Socios.com to create Barça Fan Tokens, granting fans voting rights and the ability to earn rewards.
U.S. equity markets moved higher overnight amid the view recession worries were overblown and that the Fed’s interest rate increases will shepherd the economy to a soft landing. This is in contrast to China, the world’s second-biggest economy, which surprisingly cut a key interest rate on Monday after dismal industrial production numbers.
The Dow Jones Industrial Average, the Nasdaq Composite Index and the S&P 500 Index all gained between 0.4% to 0.6% on Monday.
The Metaverse Is a Game Changer
A pandemic has led to cultural adoption of the Metaverse. It has been hosted by Zoom since 2012. Animoca Brands, the company that owns The Sandbox and CryptoKitties, is a major shareholder of Metaverse and has invested in several other projects, including the NBA Top Shot game. Robby Yung, CEO of Animoca Brands, is a major investor. He also has an interest in gaming and is an investor in The Sandbox.
The potential for metaverse is enormous, but the real promise is in the hands of users. Digital assets can be monetized in many different ways, including in-game monetization, game-to-equity, and digital crafts. In addition, a metaverse blockchain can make the virtual world more user-friendly by enabling users to buy and sell non-fungible tokens. However, it is crucial to protect data and ensure that the virtual environment is backed by a cryptocurrency.
The Metaverse has also been cited as an example of the metaverse. The 2011 science-fiction novel by Ernest Cline provides a compelling picture of the metaverse and how it can be used for recreational activities, such as virtual concerts and shopping. There is no denying that Metaverse is a game changer. Many companies are focusing on the Metaverse to make work easier and more efficient. It is already being used by millions of users to enjoy virtual concerts, shopping, and other entertainment.
Facebook is pursuing its own efforts to make the Metaverse a reality. Besides partnering with digital wallet Novi, Facebook is working on the NFT feature that will work with the company’s backed cryptocurrency, Diem. The social media giant plans to announce a new name for the project next week. The new name is likely to signal its ambition. Meanwhile, the Chinese company Tencent is building a new F1 team focused on the Metaverse, and is registering over a hundred metaverse-related trademarks.