Don’t be afraid of BEAR MARKETS! EMBRACE THEM! The bear market is as natural as the bull cycle and here’s why we think there are MASSIVE opportunities.
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The Dark Side of the Metaverse
In the upcoming years, the Metaverse is expected to grow to five billion users. But with all its promise, the system also has its dark side. Regulatory uncertainty, money laundering, counterfeit NFTs, trading scams and volatility are among the risks. Large firms are well positioned to take advantage of the market’s potential because they already have the budget and trust to invest in the venture. Plus, they already have the necessary data privacy regulations in place.
Blockchain-based apps are also part of the Metaverse. They allow users to own virtual land and earn revenue by playing games. Some of the most popular metaverses on the market are Decentraland, Axie Infinity, and SecondLive. These three platforms use Ethereum blockchain as their foundation. These blockchain-based apps allow users to earn Axies, which are non-fungible tokens. Users can breed Axies seven times, and the offspring can be sold on the gaming platform.
In the past year, the Metaverse has gained a lot of attention, thanks to the rise of crypto-focused games. The concept was coined by the author of the famous sci-fi book “The Catcher in the Rye” and has since become part of mainstream technology. Facebook CEO Mark Zuckerberg even called the company he founded the “metaverse company.” But the concept is just emerging, with the company’s latest investment in virtual reality.
Facebook and Microsoft are reportedly planning to buy virtual land in the Metaverse. However, this isn’t the only threat. Some crypto enthusiasts fear that centralized actors will take over the Metaverse. This fear has led to a crypto fund manager to worry that the future of the metaverse will be controlled by big tech companies. The company did not respond to an Insider request for comment. In the meantime, a crypto fund manager, not a professional investor, said: “We can’t afford to be overly optimistic about the Metaverse.