Binance Deals: https://bit.ly/3AFo1VQ
In today’s portfolio update, Ben gives a lesson on taking profits and making moves so you don’t experience FOMO when building your portfolio.
0:00 Intro
1:22 ISO 20022 Update
5:53 Additional Portfolio Updates
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Is Facebook a Metaverse?
In 1992, Neal Stephenson coined the term “metaverse” to describe 3D virtual worlds. Since then, virtual reality, augmented reality, and even cryptocurrency have expanded the concept of the metaverse. The book Ready Player One introduced the concept of virtual reality, and the movie was a hit in 2018. In 2014, Facebook acquired virtual reality hardware company Oculus.
Facebook has invested heavily in virtual reality and augmented reality, and CEO Mark Zuckerberg has said that he hopes to see people thinking of Facebook as a Metaverse one day. Facebook recently announced a major initiative to develop the Metaverse in Europe. In particular, the company has shown interest in cryptocurrencies. The use of cryptocurrencies in the metaverse could legitimize the use of these digital currencies as payment methods.
While the concept of the metaverse is incredibly appealing, it is still rife with risks. For example, there are concerns about data privacy and regulatory uncertainty. Some experts believe that the metaverse may be a potential source of money laundering and other issues. Also, there are concerns about counterfeit NFTs, trading scams, and the high volatility of most cryptocurrencies. However, big firms already have a lot of budget to invest in the Metaverse, and they can afford to be more selective with their investments.
Metaverses also present many opportunities for entrepreneurs. The goal of these businesses is to create useful products and services for the metaverse. The main challenge will be to make sure they can monetize their services effectively. For example, a virtual cinema could issue a token for movie viewing rights. Likewise, an online club might issue a token for membership to its virtual club.
