Today we will be discussing Ethereum single-day liquidations reaching a 3yr high. Next we’ll look at BAYC and the new controversy surrounding a certain function that one wallet holds, and last we’ll talk about Epic Games plan to list blockchain Gala game GRIT! a first for its storefront.
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Facebook’s Metaverse Could Be the Future of Social Networking
The concept of a metaverse is similar to that of a virtual reality platform, but instead of being limited to one platform, users can hop from one to another, letting them purchase Burberry shirts on one platform and invite friends to hang out on another. The metaverse combines blockchain, VR, AR, and Web 3.0. In other words, it’s a combination of many technologies that haven’t been merged yet.
Facebook has faced a number of criticisms over the years, from concerns over privacy to fake news and hate speech. Although the company has vowed to build the metaverse responsibly, its focus on privacy and open collaboration with outside firms has led some people to be skeptical. Cryptocurrency entrepreneur Yat Siu has even called the company a “threat” to the metaverse. As such, a growing number of people are looking to join this growing community.
Facebook’s recent rebranding has boosted the prices of metaverse-related non-fungible tokens. The company has also made references to crypto and other non-fungible tokens. As a result, some coins within the metaverse have soared over 100% in just 24 hours. Starlink, for example, has increased by 109%, while decentraland has jumped by 39%. Even Roblox, the creator of popular gaming platform SecondLive, has outlined its vision of a metaverse.
Facebook’s Metaverse has grand ambitions for a social virtual community. For instance, it has plans to create a virtual gym for its users. It also promises to make work from home a popular trend in the virtual world. In fact, many of the features of the metaverse could even help users interact with colleagues who may be thousands of miles apart. If this concept takes off, it could also transform how people interact with one another. The future is exciting.