Tonight in your nightly crypto news wrap up: The secret service has been tracking crypto criminals, researchers remain optimistic on Bitcoin’s price action and grab your notebooks, The Wolf of Wall Street is offering a crypto class to anyone willing to pay for it.
What We Discuss:
0:19 Secret Service and Crypto Criminals
2:15 BTC Price Action
3:15 Frankie Candles
4:14 Jordan Belfort
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Is Facebook a Threat to the Metaverse?
Facebook’s recent move to invest in the Metaverse demonstrates its commitment to the cryptocurrency ecosystem. Facebook has faced many criticisms in recent years for its policies and practices, including the spread of fake news and hate speech. Facebook has pledged to build the Metaverse responsibly, highlighting its commitment to privacy and its willingness to collaborate with external firms. However, some members of the crypto community remain skeptical and have compared Facebook to a potential threat to the Metaverse.
Blockchain-based apps are used to create a metaverse in which users own virtual land and earn money by playing. Popular metaverses include SecondLive, Decentraland, and Axie Infinity. Axies are non-fungible tokens based on Ethereum. They can be built from over 500 body parts and are able to breed up to seven times. The offspring can then be sold on the platform. This platform has a large community of gamers and is one of the most popular amongst gamers.
Cryptocurrencies are a great way to transact in immersive virtual economies. In the metaverse, users can buy virtual art, properties, and more – all using their avatars. However, there are many risks associated with investing in virtual currencies, including money laundering and counterfeit NFTs. Although many of these risks are relatively low, big firms have several advantages over smaller companies. Their budgets and data privacy measures make them ideal for tackling these risks.