This is the same agency that made $1.1 billion in child welfare payment errors in just five months during the pandemic, was hacked in 2015 resulting in the compromise of personal information of over 700,000 taxpayers, and foolishly targeted Americans with $10,000 or more in a foreign bank account in 2010, without considering the fact many of them were middle class former citizens.
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The Metaverse – Facebook, Walmart, Coca-Cola, and More Are Getting Involved
The Metaverse is the next step in the evolution of the web. It is an immersive, 3D virtual world. While the technology may not be ready yet, it has the potential to be a huge new content medium and computing platform.
As such, large tech companies are betting big on creating social spaces. These spaces are where people can socialize in real-time. They also offer a way to create digital objects that can be sold for real-world value.
Facebook recently signaled a major hiring push for its Metaverse unit. And, it will invest $10 billion in the space this year.
Facebook is not the only company making a play for the metaverse. Walmart and Coca-Cola are considering selling their goods there. Some major video game firms are also pursuing the idea.
Mark Zuckerberg is fully committed to the concept. He announced his plans for a metaverse last month. But, there are several major questions still to be answered. What is it, how does it work, and what can it do?
A new report compiled by Grayscale attempts to answer those questions. Among other things, the report outlines a description of the Metaverse.
In particular, the report points to the role of NFTs. NFTs allow the creation of unique tokens that can be used in the Metaverse. This is a key aspect of the Metaverse’s economy.
Other tokens include passes to closed clubs and events. Some are also designed to be traded for other currencies.