If you haven’t been in crypto through a full four-year cycle, you probably lack the perspective to simply assume that just because there are more people here or “more adoption” the market cycle has changed.
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Facebook’s Metaverse
In the Metaverse, people inhabit their own virtual space and interact with other metaverse users via an online avatar. These avatars provide users with a variety of tools and services that give them freedom of movement, speech, and action. They also allow users to own and sell virtual property, and exchange these properties for non-fungible tokens.
Facebook’s co-founder Mark Zuckerberg recently unveiled his company’s plans to create a metaverse. The idea is to create a shared virtual space where users can interact with each other no matter where they are or when they log on. People will be able to create virtual avatars, who will remain on the network long after events take place. The Metaverse will include a vast array of services, including servers, digital currency, marketplaces, social networks, and language processing.
Although the concept is still fairly new, there are already some notable success stories in the Metaverse. The Sandbox, for example, is a popular example of a decentralized Metaverse, where users can build virtual worlds. In November 2017, Adidas purchased land in the metaverse to build an avatar and game. The brand collaborated with Coinbase and other influential NFT brands to create a game that users can play for free.
Meta CEO Mark Zuckerberg has a strong belief in the Metaverse. The CEO believes the Metaverse is the next evolution of social media, and has invested his earnings in the startup. In fact, he has even convinced his sisters to join the game.
