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Facebook Wants to Control the Metaverse

Facebook’s desire to control the Metaverse has some crypto kids worried. While a company like Facebook may not be an excellent fit for the Metaverse, they would like to see a decentralized organization that the community can own and build. Although the company’s track record suggests the opposite, blockchain technology may be just the thing to tip the balance. The success of a decentralized autonomous organization will depend on the platforms created, commercial partnerships, and gaming preferences. In the meantime, the Metaverse is set to change the way we live, work, and play.

It’s important to remember that the metaverse will have a need for constant confirmation of ownership. NFTs will enable the creation of unique tokens with blockchain transparency. This means that every time someone spends money on an item, they can be certain that the owner is the same person. For instance, a restaurant selling pizzas on one platform could issue NFTs as a token. Then, people could use these tokens to buy a burberry shirt on another platform, invite them to hang out at their house in the metaverse, and so on.

The metaverse also provides a new level of digital sociability and will open up new markets for businesses. Critics of this new technology argue that it will only exacerbate social media issues. A recent Bloomberg columnist chronicled her experience as the only woman in a virtual reality game in Horizon Worlds. The developer’s hopes are that the metaverse will enable the growth of social media and a global economy. The technology will help businesses increase customer exposure to their products and content, as well as improve purchasing decisions.

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