šŸ”The ā€˜metaverse’ may change the way you earn money, shop or even chill with friends in the futurešŸ”

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24 May 2022
21

[ 🌟 The metaverse is poised to change the way people interact in their day-to-day lives, including how we work, shop, and have social interactions.

  🌟 Projects like The Sandbox, Decentraland and others are already using blockchain technology to create entire worlds that only exist online — but create value that translates in the real world.

  🌟 Now, even Facebook is looking to get in on the action. ]


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The world of crypto is changing the way people create value in all parts of the world. Gamers in Southeast Asia are using ā€˜play to earn’ games built on blockchain to earn their livelihood, Snoop Dogg is throwing virtual parties and artists have a new way to earn money. Simply put, the metaverse is a digital world where nearly anything is possible.

Even Facebook wants a part of the action. The social media giant is pumping $50 million into its metaverse project called ā€˜XR Programs and Research Fund’. ā€œWhat is missing is blockchain. The note does not mention it, and none of the partners and institutions it names appear to have significant relevance to blockchain or data rights,ā€ Yat Siu, co-founder and chairman of Animoca Brands, told Business Insider in a statement.

However, Mark Zuckerberg’s social network is already working on the pieces needed to solve the puzzle — its own stablecoin Diem, formerly known as Libra, the Novi digital wallet, and an affinity for non-fungible tokens (NFTs).

For the people who distrust Facebook, the good news is that it's not the only player looking to launch its own metaverse — even though it is, by far, the biggest. Other projects, like Decentraland, Somnium Space and The Sandbox, have had their foot in the door for a while now.

Experts believe that the metaverse will not impact our jobs and our day-to-day lives but have a radical impact on society as a whole. ā€œThe metaverse will be like a digital country or even an entirely new civilization,ā€ Yat Siu, co-founder and chairman of Animoca Brands, told Business Insider in a statement. According to Eric Elliot, the cofounder of DevAnywhere, the metaverse could balloon to become a global entity worth 10 times the current value of the world economy.

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