Celsius freezes withdrawals and transfers, proving correct the harped-on blockchain adage–not your keys, not your crypto. More stablecoin destabilization as USDD and USDN lose their dollar peg; and days after Bitcoin gave us a breather from down-trending market conditions and closed its first weekly green candle after 9 in the red, the US bureau of Labor statistics came out with the highest consumer price index since 1981… and markets melted down.
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0:37 Below Zero
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What is the Metaverse?
The term “metaverse” was first used in 1992 by science fiction writer Neal Stephenson to describe a virtual world. The term has since evolved and grown as virtual reality, cryptocurrency, and augmented reality technologies have advanced. Its popularity increased in recent years after the release of the movie Ready Player One and the acquisition of Oculus VR by Facebook. But how will it affect the way we live, work, and play? Here are some things to consider when exploring the metaverse.
The emergence of the metaverse has been fuelled by a viral phenomenon. The book, The Sandbox, has helped spread the word about this revolutionary technology. The Animoca Brands CEO, Robby Yung, also has a stake in the company. The company also invests in several startups, including NBA Top Shot creator Dapper Labs. While the technology is still developing, it’s already making waves in the world of virtual reality.
The metaverse is a virtual reality platform that allows users to hop between platforms. For example, you can purchase a Burberry shirt on one platform, then hop to another to wear your avatar in the same drip. You can even invite people to hang out at your metaverse house. This platform is a hybrid of blockchain technology, AR, VR, and Web 3.0. Its users can trade virtual currency and interact with each other on a global scale.
Facebook has a vested interest in the metaverse and is using the new technology to expand its production capacity. By using metaverse technology, the company has created a digital environment for employees to work together. In fact, Microsoft may be its biggest rival. The company has recently announced an investment of $50 million in metaverse research and plans to hire up to 10,000 employees in Europe over the next five years. So how will this technology change our lives?