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Facebook, Microsoft, and the Metaverse
The metaverse is a virtual world that is populated by avatars. These avatars can be used to play games, create art, and interact on social platforms. Users can purchase items in the metaverse with virtual currencies, which are traded for real-world value.
The metaverse has the potential to completely change the way we work. It can eliminate the barriers between developed and developing economies. Likewise, it can open the door to countless new jobs and industries.
Facebook is betting big on the metaverse. Earlier this week, the company announced a $10 billion investment into the project.
But, even if Facebook wins the race, there are still plenty of companies that want to control the Metaverse. One of those corporations is Microsoft.
According to a Goldman Sachs analyst, the company is betting on crypto technology. The analysts said that crypto will be the central component of the metaverse.
Crypto technology is a decentralized platform that allows users to securely store their assets. In addition to that, it is a transparent mode of payment.
Many crypto diehards are worried about the future of the crypto industry. They believe that big-tech metaverses like the one envisioned by Facebook could dominate the crypto landscape.
As a result, many crypto kids are pushing for a community-owned Metaverse. Andreessen Horowitz, a venture capital fund, is one of those investors.
But what does a Metaverse actually consist of? To begin, it must include ownership of assets and the ability to create value.
