On this morning’s video, Meta Money’s Bryan and Justin take a look at the latest metaverse news, including STEPN users’ outrage over a Bore Ape Yacht Club partnership, and the first official tests of the Otherside metaverse.
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Facebook’s $10 Billion Investment in the Metaverse Could Cause Concerns in the Crypto Community
The Metaverse is a virtual world that connects people through a shared virtual world. There are many ways to interact in this virtual world. In fact, some of the most popular methods include video games, role playing, and chatting with other users in the metaverse. Some companies are already making money off of this virtual world, including Animoca Brands, which is also the creator of NBA Top Shot. Despite these successes, there are still a number of potential drawbacks.
The changes to Facebook’s name have sparked a massive rise in the value of the Metaverse gaming cryptocurrencies. The change in name has not affected the social networking giant’s other social networks, which will continue to be referred to as Facebook. But it’s a major concern for some in the crypto community. Facebook’s $10 billion investment in Metaverse could cause concerns among investors. For one thing, the company isn’t the only company trying to enter the virtual world market. Facebook has been investing heavily in various crypto ventures, including Ethereum.
Entrepreneurs are also expected to drive the growth of the metaverse. They will provide services, create content, and do useful things for the metaworld. But how do they monetize these services? They can use non-fungible tokens for hour sessions, and online cinemas can issue these to movie-goers for a certain period of time. Tokens could even be used as passes to virtual events and planets. Ultimately, metaverse services are the future of the virtual world.