In tonight’s crypto news wrap-up, Justin of Meta Money takes a look at the current happenings in the crypto landscape, including Ethereum’s recent pump predating the merge to ETH 2.0, Dubai bringing jobs and healthcare to the metaverse, and a prodigal UFC putting her fight money in Bitcoin.
0:00 Intro (blue)
0:16 High on ETH (yellow)
1:38 Frank (brown)
2:50 Dubai-verse (Green)
4:00 Beatdown for Bitcoin (pink)
Top Videos:
📓Crypto 101: https://youtu.be/AaNfHskwLdg
🏘️Housing Crisis: https://youtu.be/a51Oi34c6Jc
🌐Internet Is Rotting Away: https://youtu.be/_rB6vjvYjNE
💻Cyber Warfare: https://youtu.be/gubDnq8jJxI
🌍World Economic Forum: https://youtu.be/ZOOtPB1pYtE
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Is Facebook a Threat to the Metaverse?
In recent years, the metaverse has gotten a lot of attention. Many tech companies, such as Microsoft, NVIDIA, and Epic Games, have announced plans to explore this new world. Other companies, such as VISA, have acquired tokens with the potential to grow the metaverse. Meanwhile, popular brands such as Gucci and Coca-Cola have gotten in on the action by selling digital accessories in the form of NFTs.
As for developers, the platform is set to be accessible through game consoles, virtual reality glasses, wristbands, and headsets. Ultimately, millions of users will be able to collaborate and play, enabling a new form of communication. Some companies are already making money in virtual worlds. In February 2019, a plot of virtual land in Decentraland sold for $2.43 million. Meanwhile, Epic Games announced it will raise $1 billion in a funding round and release a game in April 2021.
As the world of virtual worlds continues to grow, Facebook may pose a major threat to the community-run Metaverse. Facebook is constantly being criticized for spreading misinformation and dividing communities, and faces antitrust questions. There are also concerns about Facebook’s ability to protect individual privacy. Facebook’s recent announcement to invest $10 billion in Metaverse’s developers may be a sign that the company is attempting to get in early. Despite the reluctance of some investors, the move may be worth watching.
Blockchain technology has become a huge part of the metaverse. Through blockchain technology, people can create virtual objects and worlds in different ways. One such example is Decentraland, a blockchain-based virtual world built on the Ethereum blockchain. In this virtual world, people can own land by buying a land token, which is a non-fungible asset. In addition to this, the metaverse is completely decentralized and there are no central authorities to regulate people’s behaviour. It also features social spaces and games.
