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Facebook Invests $10 Billion Into the Metaverse
Earlier this week, Facebook announced it would be investing $10 billion into a “Metaverse” company. This is a concept that’s been building momentum for years, and has been described as the “next big thing” by Facebook CEO Mark Zuckerberg.
The Metaverse is a virtual world where users can meet other people, create avatars, and purchase virtual properties. These properties are created with a combination of software and hardware. Some metaverses are decentralized, while others are centralized.
Decentraland is one of the most popular metaverses on the market. It uses crypto technology to allow players to monetize their time spent in the Metaverse. The platform is governed by a group called the Axie Infinity Shards. Players can earn these shards through staking, winning tournaments, and breeding Axies.
There are many companies that are developing metaverses. Some of the most notable include Roblox, SecondLive, Decentraland, and The Sandbox.
Despite the fact that Facebook is investing big money in the Metaverse, there’s still room for other players to dominate. It’s important to note that a successful decentralized autonomous organization depends on how well they create platforms. These platforms will be driven by entrepreneurs, and will create content, services, and businesses that users will find useful.
Currently, the Metaverse is primarily composed of videogames like Roblox and Fortnite. However, companies like Microsoft and NVIDIA are investing in the Metaverse, too.
These companies are hoping to create a “decentralized” Metaverse, which would allow users to build their own virtual worlds. The platform would then be accessible through virtual-reality headsets. Users would then be able to meet their friends, attend events, and buy goods with cryptocurrency.