For many of us in the crypto space, our bullish bias tells us: “we’ve already bottomed.” “Can we really go any lower?” Look at how Bitcoin is holding this level!” All it takes is the right catalyst for the next lower leg.
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The Metaverse and Facebook’s Mark Zuckerberg
The Metaverse is an emerging virtual world that has the potential to unlock a number of possibilities for its users. It allows users to create and exchange non-fungible digital assets, which can be used in a wide range of applications. A key component to creating the Metaverse is a secure and reliable blockchain that supports the transaction of metaverse data.
The Metaverse can be accessed through a variety of devices, including desktop computers, game consoles, virtual reality glasses, and VR headsets. The technology will allow millions of users to interact with one another and work, play, and learn. There are several companies already operating in this virtual space, including Epic Games, which recently announced a $1 billion funding round to further develop its virtual reality platform.
The first NFT project, Ethereria, was built on the Ethereum blockchain. The project was intended to offer a decentralized virtual world to compete with the Metaverse. The project was popularized in November 2017 by Dapper Labs, which created the crypto-gaming application CryptoKitties. While this was a tactical move, it has now become a mainstream phenomenon.
Facebook CEO Mark Zuckerberg has reportedly invested $10 billion in the Metaverse and believes it can revolutionize the future of mobile computing. He teased that the company would support NFTs in the future. The company has been hosting the Metaverse since two years. Other prominent figures in the crypto world have similarly expressed their views.