In this video, we will discuss the price of Bitcoin, Ethereum, and the top altcoins. We’ll take a look at the cryptocurrency markets and the latest crypto news.
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What is the Metaverse?
Described as a “shared virtual platform,” the Metaverse offers a unique experience for users. Using VR headsets, people can immerse themselves in virtual environments. They can also interact with other users, digital assets, and servers.
Many industries have begun to embrace the concept of Metaverse to improve business value. Some of the more popular Metaverses include SecondLive, Roblox, and Decentraland.
These metaverses are populated with NFTs, or Non-Fungible Tokens. These in-game tokens are designed to be used in specific environments, and are not intended for real world applications.
NFTs are used to distribute revenue earned on a platform, and to incentivize trading, commerce, and other activities. Many companies have built NFTs to increase user engagement. They include trading cards, digital accessories, and real estate.
Some companies are also releasing in-house marketplaces for their coins. Axie Infinity Shards (AXS), for example, are used to gain prizes by staking or breeding Axies. They are regulated by the Decentraland platform. They can be bred up to seven times.
The Sandbox is a virtual world that allows users to create and own games, and to earn rewards for their participation. Animoca Brands is one of the owners of The Sandbox.
Axie Infinity Shards are used to vote on community treasury funds, and can be earned by playing matches or breeding Axies. They can also be purchased using Android Pay or Apple Pay.
Axie Infinity Shards have gained a 11% price increase in the past 24 hours. Animoca Brands has a major stake in the NBA Top Shot creator Dapper Labs.