There are plenty of points where Bitcoin and the NASDAQ did not correlate. Just because they look similar, doesn’t mean they ARE similar. So many events contribute to the rise and fall of stocks and Bitcoin.
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Making the Metaverse More Accessible
In a culture where tech giants are taking over every aspect of our lives, the Metaverse may be a welcome alternative. For this reason, its creators are looking at different ways to make the immersive market more accessible to everyone. They’ve also created a platform for constant confirmation of ownership. To that end, the company behind Metaverse, Zoom, is working with the NBA Top Shot creator Dapper Labs and CEO Robby Yung to help create a platform that can make the Metaverse accessible to a larger audience.
One company that has raised $810 million in the past two years is Animoca Brands. This unicorn has partnered with the metaverse VC firm Liberty City Ventures, as well as Winkelvoss Capital, Soros Fund Management, and Boyu Capital. The company has also invested in non-fungible tokens, which are digital assets that authenticate ownership in a distributed ledger. The company is valuing its assets at $5 billion.
While the concept of the Metaverse is fairly new, several companies are developing virtual reality experiences. Microsoft, for example, announced plans to build its own metaverse, where Teams users can visit virtual spaces as early as 2022. Companies are also incorporating blockchain technology and data centers into the mix. But whether or not the metaverse will be a standalone system is unclear. The competition among these companies is fierce, as each is vying for the largest market share.