Crypto Revolution Across America (Bitboy Crypto VLOG February 2023)

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What’s Happening in the Metaverse?

Metaverse is a new digital space where people can work, play and connect online. It’s the next step in the internet’s evolution, and it may have a big impact on your life.

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One of the most important things that’s happening with the metaverse is that it’s moving toward ownership. Users can create and own their own virtual objects, experiences or even a piece of real estate based on the blockchain technology that powers cryptocurrencies like bitcoin. This means they can move their communities and digital goods from one metaverse platform to another – if they want to, say, take their Facebook group with them or transfer their crypto tokens from Decentraland to Sandbox.

Non-fungible tokens (NFTs) are also a key part of the metaverse. NFTs are secure digital assets that can represent a piece of art, a song or even a piece of virtual real estate. They can be sold or exchanged for other NFTs in the metaverse, but only if their real-world value climbs enough to justify a sale.

Users can use NFTs to pay for services in the metaverse. For example, a psychologist might issue NFTs to give you an hour of therapy. An online cinema will sell tokens to let you watch a movie.

The metaverse is a digital world independent of the physical realm that people can explore and interact in, supported by its own digital economy. But it’s not without its challenges.

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