In tonight’s crypto news wrap-up, I take a look at the current happenings in the crypto landscape, including Animoca Brands’ reserves totaling 5 billion dollars, Binance falling onto the SEC’s chopping block, and the seemingly never-ending inflation of gas prices.
Timecodes:
0:00 Intro
0:19 King of the Metaverse
1:32 Frankie
2:46 SEC’s Binance Beatdown (Green)
4:00 Gassed Up (Green)
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Investing in the Metaverse
The concept of the metaverse has been making waves in the last few weeks. Facebook has rebranded its social network as Meta, along with Instagram and WhatsApp. Facebook’s founder Mark Zuckerberg is planning to create a digital world in which people can communicate, work, and relax. Some in the Silicon Valley are convinced that the metaverse will be the next big leap in modern technology. So what is the Metaverse? What are its advantages and disadvantages?
A metaverse is a digital land that users can own and use to play games and earn money. Decentraland, Axie Infinity, and SecondLive are three popular metaverses. Axie Infinity, which is based on the Ethereum blockchain, is one of the most popular. The Axie token is a non-fungible token and can be constructed from over 500 parts. Users can breed their Axies up to seven times and sell the offspring on the platform.
In contrast to Facebook, which owns the Metaverse, a decentralized organization is governed by a community. Facebook is already heavily investing in the blockchain technology behind Bitcoin and NFT digital collectibles. Facebook CEO Mark Zuckerberg has said that the future of the company lies in building interactive experiences. The metaverse is the next evolution of the internet. With a decentralized environment, people can be present in several digital spaces at once. It’s no wonder that artistic creators are selling their work under the banner of non-fungible tokens.
There are plenty of risks and benefits associated with metaverse. For instance, if you have no experience in the crypto space, you can’t expect your money to be safe. The risk of scams and money laundering are two of the main concerns. If you’re unsure about whether the metaverse is right for you, do some research before investing. Know what you’re getting into and which ones will last the longest. So what’s the best way to invest in the metaverse?
