California Senator Bob Hertzberg shares about forward-thinking regulation and about how outdated laws need to be revised for the future. This is important for the crypto space in America!
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The Rise of Crypto Games in the Metaverse
The Metaverse is a virtual world that is always available and populated by avatars and NFTs. It is usually powered by cryptography, which allows users to own and move assets between platforms. Today, the Metaverse looks like games such as Fortnite and Roblox. Users can also buy passes to events, clubs, and other places.
Crypto enthusiasts are concerned about the future of the Metaverse, which they say is being controlled by tech behemoths. There have been some intriguing developments in this area over the past year. One of these is the rise of crypto-focused metaverse games. They have captured the attention of many players and are investing their winnings in their startup.
Metaverse has attracted a number of investors, and one of the more popular is Animoca Brands. This company has raised $810 million in funding over the past two years and has already partnered with Winkelvoss Capital, Soros Fund Management, and Sequoia China. A recent funding round led by Temasek and Boyu Capital will add another $150 million. The startup’s valuation has grown to $5 billion and is already backed by many of the world’s most well-known tech companies.
Microsoft, NVIDIA, and Epic Games have all announced plans to explore the Metaverse. VISA has invested $150,000 in the first NFT, and popular brands have jumped into the metaverse. The company’s founder, Ian Fan, is a former school textbook editor who now lives in Malaysia.