Today we will be discussing Wall Street betting on a $10K BTC! Will their bet payoff? Next we’ll looks at recent email updates put out by insolvent platforms Voyager & Vauld, and last we’ll talk about British Fintech company Revolut new partnership with Polkadot that focusing on education.
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Big Companies and the Metaverse
A recent report by Citi GPS estimates that there will be 5 billion users in the Metaverse by 2030. The report identifies some of the challenges that face the metaverse, such as the high volatility of most cryptocurrencies, regulatory uncertainty, and money laundering risks. But despite all these concerns, big companies have an advantage over startups: they have the budget to fund research and development, and a high level of trust and data privacy built into their business models.
While early virtual reality platforms like Minecraft have focused on games, many industries are utilizing VR to connect with users. A VR boxing class can be played in a virtual boxing ring. Fitness games like Fitbit and Body by Tycoon are also gaining popularity. However, many of these companies have not yet defined what their Metaverse platform will look like. They may be working on a system that allows users to access the shared virtual world via the internet.
The metaverse will be driven by entrepreneurs, who will create useful content and services for the metaworld. But how can these entrepreneurs monetize these services? One way is to create non-fungible tokens for hour sessions, which would serve as an asset in the metaverse. Online cinemas, for example, can issue tokens that entitle the owner to view movies for a specified period. Or, in a similar way, tokens can serve as passes to events, or even to a planet in the metaverse.