In this video, Bryan talks about the number of first-time crypto holders coming into the space because of STEPN. Not only is STEPN revolutionizing move to earn, but the traction it is gaining has new crypto users coming into crypto for the first time.
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The Metaverse and Cryptocurrency
The hype around the Metaverse has ignited a new market for digital land and virtual real estate. The platforms are divided into land blocks, called parcels, which can be purchased with cryptocurrency tokens or non-fungible ones. After investing in these real estate assets, owners can sell them for a higher price or lease them to property developers or metaverse event organizers. The Decentraland project, which opened to the public in February 2020, has become the most popular metaverse. Land parcels sell for tens of thousands of dollars, with the prime one selling for more than $1 million.
The concept of a metaverse was first proposed by author Neal Stephenson in 1992, as an alternate reality. It was developed to describe 3D virtual environments, and has continued to evolve through virtual reality, augmented reality, and cryptocurrency. Metaverse was made popular by Ernest Cline’s book Ready Player One, which was made into a successful movie. In 2014, Facebook purchased the virtual reality hardware company Oculus. While this is a promising technology for the future, it is not without controversy.
Boeing has a stake in the metaverse. The company is using it to expand its production capabilities by establishing a digital world where employees can work together. Microsoft may be the biggest competitor of Facebook, with its Mesh for Microsoft Teams. Microsoft’s Mesh for Microsoft Teams virtual world enables users to collaborate in 3D holographic environments with their virtual avatars. Holoportation is another use for the Metaverse. A user wearing a VR headset can access this virtual environment from anywhere, allowing him or her to visit any place in the world.