Today we will be discussing major investors increasing their cash holdings to the highest levels since the 9/11 attack. do they know something we don’t? Next, we’ll look at Norcryptoanalysisank tapping Nahmii, an Ethereum lay 2 for its CBDC, and last we’ll talk about Aave launching a decentralized NFT-based social media platform Lens.
Around the Blockchain is your favorite Cryptocurrency show discussing Bitcoin, Ethereum, Cardano, and the top altcoins. Our four crypto experts include Andrew Mo, Altcoin Daily, Mine Your Biz, & Crypto Blood. Tune in for their insightful crypto analysis.
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What is the Metaverse?
The term’metaverse’ was first coined by Neal Stephenson back in 1992 to describe the concept of 3D virtual environments. As augmented reality, virtual reality, and cryptocurrency have advanced, so have the concepts of the metaverse. The popularity of virtual reality began in 2008 with the release of Ernest Cline’s Ready Player One, which was made into a blockbuster movie and a New York Times best seller in 2018. In 2014, Facebook purchased virtual reality hardware and the Oculus platform.
The Metaverse allows users to own virtual land using blockchain-based apps and generate money. SecondLive, Decentraland, and Axie Infinity are some of the most popular metaverses. In Axie Infinity, users create non-fungible tokens called ‘Axies’. They can then breed up to seven times and sell the offspring on a gaming platform. Similarly, in Decentraland, users can earn money by playing games.
The Metaverse is expected to be accessible on desktop computers, game consoles, virtual reality glasses, wristbands, and headsets. Once available to the public, the Metaverse will enable millions of users to play, work, and collaborate with each other. While it is still too early to tell whether or not it will become a reality, early adoption is positive. Some developers have already begun creating applications for the metaverse. The creator of Fortnite, Epic Games, has already raised $1 billion in venture capital. Roblox is another company that has announced plans to build the Metaverse.
The metaverse is a virtual world that many people use to socialize. The concept was first discussed in the 70s and 80s but was never quite realized. However, with its growing popularity and potential, it is now expected to become a $800 billion industry by 2024. In fact, Ball and many other venture capitalists have written articles and essays about the Metaverse. In essence, the Metaverse is a 3D model of the Internet. Users live their digital lives in the Metaverse and interact through avatars.