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Facebook Will Invest $10 Billion in the Metaverse
Using blockchain technology to control the Metaverse will allow entrepreneurs to create and provide services and content in the new virtual world. Tokens are non-fungible and can be used to own hour sessions. For example, an online cinema can issue tokens that people can use to watch movies for a certain period of time. Tokens can also be used to buy a pass to a specific event or planet. The future of this virtual world is bright – and it’s not just for gaming.
Facebook is one of the most prominent investors in the Metaverse and has been making significant investments in the project. The social networking giant has teased that it will eventually support NFTs and invest $10 billion in the project. Meanwhile, several prominent figures in the crypto industry have expressed similar views. One such person is Raoul Pal, a former hedge fund manager and outspoken crypto enthusiast. Despite Zuckerberg’s enthusiasm for the technology, it may not be enough to keep the company from investing in it.
The metaverse will be social by nature, unlike standard VR experiences. Players will be able to invite real-life friends to play with them and form relationships. Additionally, metaverse gamers will be able to engage in profitable activities, such as mining cryptocurrency or selling their game assets. Further, the metaverse’s interoperable architecture will enable the creation of portable game assets. In addition, the NFT rules will allow users to transfer their game assets to other users for cryptocurrency.
