Today we will be discussing crypto outflows of assets under management hitting its lowest levels since Feb. 2021. Next we’ll look at BlockFi securing a loan from SBF’s FTX for a whopping $250M, and last we’ll talk about China’s financial sector in the mist of a bank run. Is it a sign of what’s to come?
Around the Blockchain is your favorite Cryptocurrency show discussing Bitcoin, Ethereum, Cardano, and the top altcoins. Our four crypto experts Crypto Crusader, Joe Parys, AJ Pleasanton, & Max Wright. Tune in for their insightful crypto analysis.
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The Metaverse and Facebook
The Pandemic – a novel describing a world in which the global economy has collapsed – has been the catalyst for cultural adoption of the Metaverse. In the novel, Hiro the Pizza Delivery Man, a famous hacker and samurai, must stop a deadly virus that threatens the world. In the virtual world, NFT can become the basis for the economy. As such, it could become the basis for a whole new economy in the Metaverse.
The social networking giant is also exploring the possibility of rewarding users who contribute to the project by issuing them social and reputation tokens. One spokesperson suggested in-app tokens for the metaverse company. Meanwhile, Andreessen Horowitz – the firm that backed Facebook – plans to create its own financial products. The social network will soon launch a small business loan product. Both companies are making a major push into the metaverse and are working to become a key player in the industry.
The metaverse has also been used in video games. The popular Fortnite game, for example, has a metaverse, with 350 million users. Travis Scott recently held a virtual concert in the game, with an estimated 12 million gamers viewing the event. While the Metaverse has not been fully defined, it will likely contain a shared virtual world that users access through the internet. Each user will have a unique avatar. For example, a developer could create a world that focuses on meditation and self-actualization.