The crypto bear market is still raging but it’s NOT all bearish. We will recover…in time. Here’s what’s happening behind the scenes.
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0:00 – Market Recap | Topics Overview
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***NOT FINANCIAL, LEGAL, OR TAX ADVICE! This channel is for entertainment purposes only and is just my opinion as I am not an expert or a financial planner. Please perform your own research.
Facebook’s New Metaverse
During a keynote at the Digital Transformation Summit in October, Mark Zuckerberg announced the launch of Metaverse, an ecosystem of virtual worlds that will be financed through the blockchain. The idea is that it will give businesses new ways to expand their markets.
The platform will allow users to create avatars and interact with other users, regardless of their location. It will also allow for the creation of a digital currency, and other digital assets.
Zuckerberg said the tech behind the Metaverse is still in development, and that it could take years for the platform to get to a point where it is ready for widespread use. He also said it will take time for closed ecosystems to open up and start working together.
Tokens are a central part of the Metaverse, and they can serve as passes to closed clubs, events, or other planets. They can also be in-game collectibles or trading cards.
Cryptocurrency is also a key part of the Metaverse. It allows users to secure their assets and move them across platforms. Several brands have built in-house marketplaces for cryptocurrency. The Sandbox, owned by Animoca Brands, is another example. It combines gaming with virtual worlds without central governance.
There are already a number of popular metaverses on the market, such as Decentraland and SecondLive. Axie Infinity is another popular metaverse, and it is built on the Ethereum blockchain. It allows users to breed Axies and win prizes by staking their tokens.