In tonight’s crypto news wrap-up, I take a look at the current happenings in the crypto landscape, including the war on financial freedom and Voyager’s latest beef with people trying to save them.
📓Crypto 101: https://youtu.be/AaNfHskwLdg
🏘️Housing Crisis: https://youtu.be/a51Oi34c6Jc
🌐Internet Is Rotting Away: https://youtu.be/_rB6vjvYjNE
💻Cyber Warfare: https://youtu.be/gubDnq8jJxI
🌍World Economic Forum: https://youtu.be/ZOOtPB1pYtE
0:20 Financial Freedom?
3:42 Deep Fried
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Facebook and the Metaverse
In 1992, novelist Neal Stephenson coined the term “metaverse” to describe a virtual world. Virtual reality, augmented reality, and even cryptocurrency have all contributed to the development of the metaverse. The term became popular in 2018 with the release of Ernest Cline’s Ready Player One. Facebook also acquired the virtual reality platform Oculus and hardware in 2014.
Entrepreneurs will be driving the growth of the metaverse. They will create new services, develop content, and do useful things for the metaworld. They will need to figure out ways to monetize these services. For example, online cinemas could issue tokens that are good for one hour of movie viewing. Tokens could be used as passes to virtual reality events, or even to visit another planet. The metaverse will require constant confirmation of ownership.
The growth of the metaverse has been accelerated by a pandemic. Zoom has hosted the metaverse for years, and Robby Yung, CEO of Animoca Brands, a leading cryptocurrency incubator, has been a leading investor since 2012.
Facebook CEO Mark Zuckerberg has publicly called the metaverse the next “big thing” in social media. He rebranded Facebook as Meta Platforms. However, Zuckerberg has only recently begun to use the term publicly. Facebook has made a significant investment in virtual reality, and has rebranded itself as a “metaverse company.”