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The Metaverse and NFTs
The Metaverse is a new concept in the crypto-gaming industry. The concept is based on the idea that players will earn crypto tokens by participating in the games. In fact, it is a platform in which players can purchase and trade crypto tokens. A large number of companies have been founded in this space, including Animoca Brands, a virtual real estate company acquired by Animoca in 2018.
Some of the companies acquiring virtual land in Metaverse include Microsoft and Facebook. In fact, a Facebook executive said that the Metaverse would be the future of the mobile internet. Zuckerberg teased that the social media giant would support NFTs in the future. Facebook recently announced it would invest $10 billion into the Metaverse this year. In addition to Zuckerberg, prominent figures in the crypto space have shared similar sentiments. One such prominent figure is Raoul Pal, a former hedge fund manager and cryptocurrency enthusiast.
While the Metaverse is still in its infancy, there are many investors excited about the potential. For one thing, it offers a unique experience to users. Another popular game in Metaverse is Roblox, which allows users to create and share virtual worlds with others. In addition, Roblox supports several blockchain projects that feature prominently in Metaverse’s growth. As such, many are describing Metaverse as the intersection of virtual reality, internet, and augmented reality.
