Around the Blockchain is your favorite Cryptocurrency show discussing Bitcoin, Ethereum, Cardano, and the top altcoins. Our four crypto experts Gareth Soloway, Sin City Crypto, Max Wright, & Bad Crypto Podcast. Tune in for their insightful crypto analysis.
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The Metaverse and Facebook
If you’ve ever read a book about the future of the virtual world, you know that there’s a lot of hype surrounding the Metaverse. While it’s true that this emerging technology will allow millions of people to connect and collaborate, the real question is how will this new technology help us get there? We’ve discussed the nitty-gritty and found some fascinating information along the way. We’ll also discuss the potential uses of the Metaverse, which will ultimately be accessible through mobile devices, desktop computers, game consoles, virtual reality glasses, wristbands, and headsets.
The metaverse’s potential is limitless, and developers are beginning to realize it. The underlying technology is already in use with video games such as Fortnite, which has over 350 million users. In addition to creating a virtual world of the game’s characters, players can tokenize these assets through play-to-earn games or digital crafts. Metaverse can also facilitate trade and investment of non-fungible tokens in the real world. While the potential benefits of the Metaverse are vast, the blockchain must be secure and backed by a cryptocurrency to enable the metaverse’s true potential.
Facebook is also looking to utilize the Metaverse in its efforts to monetize the platform. The company has already launched a $50 million fund for the research and development of the metaverse, aiming to make it a better experience for its users. Facebook recently announced a significant hiring push for its metaverse unit, which is based on the Ethereum protocol. The new name suggests a focus on the metaverse. It’s also an important step for Facebook, which has been investing heavily in virtual reality headset maker Oculus.