In today’s wrap up crypto news video Deezy looks at latest moves of Warren Buffett, influx of institutional money into Bitcoin, and how El Salvador is doing after adopting Bitcoin as a legal tender.
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0:20 Warren Buffett
2:35 Market Watch with @Frankie Candles
3:37 Institutional money and adoption
5:38 How’s El Salvador doing?
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Facebook Makes a Big Bet on the Metaverse
Facebook is making a big bet on the Metaverse, a virtual world that connects people and technology in a shared space. This world is not yet well-defined, but it does have big ambitions, including virtual meeting rooms and gym equipment. As VR develops, small businesses should prepare for the change by clarifying their niche, choosing the right technologies, and updating their branding materials. For example, rebranding means changing your logo or existing images.
In the coming year, Apple is expected to unveil its own AR/VR headset. The company has a loyal fan base, and introducing a new product in the metaverse could expose the brand to a new segment of consumers. Car manufacturers could launch futuristic vehicles within the metaverse, a trend popular with Gen-Z consumers. Non-profit organizations and community-minded organizations could also use the Metaverse as a way to engage new donors and advocates.
There is a growing number of crypto projects with metaverse potential. Sandbox and Enjin are two such projects. They both use the Ethereum blockchain to create an ecosystem for players and monetize them. In SoRare, players can purchase cards that represent real-life athletes. They can then create fantasy teams and compete with each other for a number of points. Ultra game, meanwhile, will create a platform for blockchain metaverse games. Andreessen Horowitz are not the only ones who are investing in metaverse projects.
The metaverse has become a cultural phenomenon. Its success is a testament to its potential. In the past two years, the company has raised $810 million in funding. Its investors include a metaverse VC specialist, Liberty City Ventures, and investors such as Soros Fund Management and Boyu Capital. In January alone, Animoca raised $360 million. At that valuation, it would be a unicorn. However, the future is uncertain for the Metaverse.