Today we will be discussing Fantom’s DEI becoming the next stablecoin on the chopping block to lose its peg. Next we’ll look at what became of the 80k BTC reserves of Terra’s UST and what comes next for the blockchain. Last we’ll talk about Meta adopting BTC and the lightning Network and how it might be implemented into Meta’s ecosystem.
Around the Blockchain is your favorite Cryptocurrency show discussing Bitcoin, Ethereum, Cardano, and the top altcoins. Our four crypto experts include Gareth Soloway, Crypto Keeper, Sin City Crypto, & Johnny Hopper. Tune in for their insightful crypto analysis!
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VCs and the Metaverse
As a crypto-gaming VC, you’ve probably heard of the term “Metaverse.” But what is it, and where is it going? Let’s look at three examples to get you started. Animoca Brands, which has raised nearly $810 million in the past two years, is one example. It’s a company that specializes in blockchain technology and has raised money from such VC firms as Liberty City Ventures in New York and Winkelvoss Capital. In January alone, it raised $360 million. That raise puts the company’s valuation at $5 billion.
The platform has also been adopted culturally. Its developers are already planning to release a Metaverse-based game called “Blox”, which will use its BLOK currency to operate the game. It will feature real estate, as well as immersive materials that you can interact with. In addition, NFTs are being used to distribute the revenue generated by the platform. The creation of a Metaverse will be a catalyst for the development of blockchain systems, including decentralized finance and governance.
Despite Facebook’s interest in creating a Metaverse, some critics worry that a centralized actor could dominate the metaverse. Facebook, for example, could become a “big-tech” app store with centralized actors claiming the title. As a decentralized, autonomous organization, the Metaverse could be a valuable asset for the digital world. This future world may transform our society and work. The company’s Mesh for Microsoft Teams service, for example, enables users to create avatars and collaborate in a 3D holographic environment. Holoportation will allow users to access the digital world with a VR headset.