The way that the crypto community has rallied around XRP in the Ripple vs SEC case through companies, lawyers, big projects, and everyday investors to stand up to the evils of the SEC and other bad actors in crypto is a buzzer-beater no one saw coming. XRP was a coin that people either loved or loved to hate, but now it has become the one to stand up against bad regulation on behalf of all of crypto.
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What is the Metaverse?
Metaverse is a large open virtual world where humans and machines interact with each other. It’s a concept that started with Neal Stephenson, who introduced the concept in 1992. Since then, the concept has developed through various technologies such as augmented reality, virtual reality, and cryptocurrency. It has also been made a popular movie, Ready Player One, with Ernest Cline playing the main character. The concept of virtual reality was made more real by Facebook’s 2014 acquisition of virtual reality hardware and platform Oculus.
The concept has grown rapidly. Its parent company, Animoca Brands, has raised over $810 million over the last two years and has partnerships with Winkelvoss Capital, Sequoia China, and Soros Fund Management. This month, Temasek and Boyu Capital are investing another $150 million. The company is now valued at $5 billion.
With the help of blockchain technology, developers have created blockchain-based apps that let users own virtual land. These games also allow users to earn money. Some of the most popular metaverses are Decentraland, Axie Infinity, and SecondLive. Axies are non-fungible tokens in the metaverse that can be used to purchase virtual goods and services. They can breed with other Axies, and their offspring can be sold on the gaming platform.
A metaverse can be accessed on a variety of devices, including mobile phones, desktop computers, gaming consoles, and virtual reality glasses, wristbands, and headsets. It is expected to connect millions of people, allowing them to collaborate, work, and play together. There are already several companies developing the technology and building games in the virtual space. The company Epic Games, for instance, announced a $1 billion funding round in April 2021.