What is Web3? In this video, Ben discusses the future of Web3.0 in an interview with Meta Money. Although crypto is a niche, Web3 is something that will be used by EVERYONE.
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The Future of Crypto Assets and the Metaverse
A metaverse is a virtual world that users can use to interact with other avatars. The technology allows users to access these worlds through virtual reality headsets. To become viable, metaverses must be “decentralized”. To achieve this, they use crypto technology, such as blockchain. Non-fungible tokens are used to store ownership rights. Crypto currency, like bitcoin, is a great way to create these networks. Metaverses can also be accessed on mobile devices and are increasingly popular with young users.
The metaverse will facilitate social interaction by creating 3D virtual spaces. It will open up new frontiers for digital sociability, while providing businesses with new ways to reach customers. It is projected that by 2026, 25% of the world’s population will spend at least one hour in a metaverse. The use of virtual worlds will increase the interaction between customers and companies, influencing purchase decisions and boosting the digital economy. But critics warn that social problems will be worsened by the new technology.
As a result, blockchain technology will be crucial in supporting the metaverse economy. Blockchain will allow users to exchange and trade digital assets, while Internet of Things (IoE) technology will help users connect to the network. 3D innovation is expected to improve the gaming experience and enhance user experiences by creating more realistic interfaces. With this new technology, blockchain will likely become the currency for the metaverse. In addition to enabling commerce and trading, blockchain technology will also be the foundation for the future of crypto assets.