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3 Metaverse Cryptos to Buy as Facebook Brings the Future Into Focus – InvestorPlace

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Metaverse cryptos continue to gain influence in the digital currency space
The metaverse isn’t necessarily a new concept; for years now, you could throw on a virtual reality headset, or just sit in front of the computer and hop into virtual worlds. Now, as the metaverse becomes not only a tool for interaction but also a tool for work or other forms of entertainment, there is a renewed interest in this industry. Especially interesting to investors are metaverse cryptos — digital currencies tied to decentralized blockchain metaverses where users have the final say in matters. As stigmatized tech giants like Facebook (NASDAQ:FB) seek to dominate the industry, these metaverse cryptos are seen as a way to subvert their efforts and still push the industry toward new things.
In the metaverse, you can go anywhere and be or do anything you want. This virtual world seeks to bridge the gap between the internet and the third dimension, making everything you do seem that much more real. Facebook sees this, and it is looking to be the largest force in the burgeoning new frontier for digital communication. Its rebrand to Meta comes with a peek into the company’s coming metaverse.
Metaverse bulls find excitement in such a huge company pursuing a product in this niche industry. But, there are plenty of people who don’t want this controversial corporation’s hands in something that users laud for the freedoms it offers. Within a Facebook metaverse, one is still subjected to Facebook’s rules and Facebook’s algorithms. Many would rather have their own rules and their own freedoms of expression.
With decentralized metaverses on the blockchain, users can have just that. Users can govern themselves, and they can even utilize a decentralized digital currency to drive their digital economy; often, they can translate this to real-life gains as well. Here are three metaverse cryptos that are considered some of the most cutting-edge in this space:
Decentraland is the current poster child of metaverse cryptos. The network offers one of the most popular virtual realms for those who want to blend blockchain and digital socialization together. Its MANA token then fuels an entirely community-driven virtual economy, which actually leads to real-world passive income.
Users make an avatar and have full access to do most anything they want. One can play games, go to a virtual casino, or just hang out and chat. Most recently, the network began hosting large virtual music festivals, beginning with Metaverse Festival. The multi-day music event saw real performances throughout the metaverse by a number of musicians, including headliner Deadmau5.
There are plenty of opportunities for users to earn and spend with Decentraland. The network deals in land parcels similar to actual real estate; users can lay claim to specific plots of charted land in the metaverse and develop it how they wish. They can also sell these plots if desired. Outside of land arbitrage, developers have plenty of opportunities to earn through the Decentraland marketplace; there, one can offer non-fungible cosmetic goods up in exchange for MANA.
Decentraland holds an edge over Facebook and other tech giants looking to capitalize on the metaverse in that it’s already an established virtual community. It originally launched in 2015, before turning 3D in 2017 and slowly building outward. Its steady growth on structure and in capital via early investors is helping to secure some notable cosigns. Recently, auction house Sotheby’s bought a parcel of land and recreated its New York City headquarters.
If Decentraland is the Bitcoin (CCC:BTC-USD) of blockchain metaverses, Sandbox is the Ethereum (CCC:ETH-USD). The two networks are neck-and-neck in the race to capture dominance in the metaverse industry. Like Decentraland, Sandbox is its own virtual universe in which developers can build games, sell items and use the platform to build relationships and get entertainment.
Just like Decentraland, users of Sandbox get the best experience by buying and developing land. This land can be turned to whatever one wants, and plots are owned by both individual users and companies alike. Also like Decentraland, the existence of a marketplace makes generating real income with SAND a possibility.
The Sandbox map, a cartesian graph plotting areas of land and their owners, shows off who the largest landowners are. It also shows off some of the network’s biggest partners, many of whom are landowners themselves, like video game developer Atari (OTCMKTS:PONGF).
Sandbox holds a slew of sponsors across different areas of pop culture who help to push fans toward the platform. In addition to Atari, Sandbox spotlights TV and film franchises Walking Dead and The Smurfs as well as musicians Snoop Dogg and Deadmau5 as sponsors. By leveraging these sponsors, Sandbox can begin to edge itself past Decentraland in popularity.
Most appealing for SAND bulls is not just the front-facing sponsorship deals it has inked; a huge recent investment in the network is lifting optimism. Japanese holdings firm SoftBank (OTCMKTS:SFTBY) is investing $93 million in the network. With this rush of capital, it could definitely expedite development enough to overtake Decentraland as the largest metaverse network. Currently, Decentraland’s MANA holds $4.5 billion in market capitalization, while SAND holds $2.4 billion.
Enjin Coin could very well be the most versatile of the three metaverse cryptos here. It is not a metaverse in the traditional sense; rather, it blends blockchain gaming and the metaverse into a unique hybrid product.
The Enjin network is the same as Decentraland or Sandbox. There are no plots of land, and there’s no walking around as a virtual avatar. Rather, Enjin is a gaming platform where users enter different gaming spaces and interact with one another through play. The network offers a variety of different games, all revolving around building out collections of non-fungible tokens (NFTs) and using them to beat other players. This might remind one of Axie Infinity (CCC:AXS-USD), the turn-based dueling game in which users breed NFT creatures to train and explore with. However, with a host of different offerings, rather than one game type, there are more options for users.
Enjin is picking up serious steam in the metaverse space in recent days. Much of that is tied to its Efinity (CCC:EFI-USD) metaverse fund. Efinity is an NFT creation platform close to the Enjin main network. With its new $100 million investment into the Efinity chain, it is hoping to push its technology further into the space. Following the same ideology as blockchain bulls, Enjin thinks the future of the metaverse is decentralized, a stark contrast to what Facebook presents.
Investors are taking interest in Enjin because it bridges both blockchain gaming and the metaverse, but it is worth looking into even more so because its future is fluid. As a gaming and NFT platform, the content of the network is what users make of it. The investment is just one step in a major development of Enjin’s metaverse. With its already robust offerings, its large amount of capital, and a fervent community base who make lots of suggestions and provide insight for further development, Enjin has a chance to offer a seriously great metaverse product.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
Article printed from InvestorPlace Media, https://investorplace.com/2021/11/3-metaverse-cryptos-to-buy-as-facebook-brings-the-future-into-focus/.
©2021 InvestorPlace Media, LLC
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Metaverse Crypto Index Fund Launched by Matthew Ball, Multicoin, and Bitwise – Decrypt

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There's a wide array of crypto builders working to bring the metaverse to life, whether it's via platforms, tools, assets, or infrastructure. Now one of the leading voices around the metaverse has launched an index fund focused on crypto assets tied to the next-generation internet.
Today, writer and venture capitalist Matthew Ball announced a partnership with Multicoin Capital and Bitwise Asset Management to launch the Ball Multicoin Bitwise Metaverse Index. Bitwise has also made an associated fund available to qualified purchasers.
"We developed the Ball Multicoin Bitwise Metaverse Index Fund because, prior to today, there was no easy, expert, and methodologically diversified way for investors to have broad-based exposure to bona fide metaverse-focused crypto assets," Ball told Decrypt.
"To this end, the Index doesn't exist to time Event A or Market Conditions B. It exists so that investors can participate in what we believe is a multi-trillion dollar transformation, which will unfold over the coming decade," he continued. "If blockchain is relevant to the future of the metaverse, and our approach is sound, we believe the opportunity is significant—today, tomorrow, next month, and so forth."
The index will feature up to 40 crypto assets chosen by the partners, but a list of included assets was not provided to Decrypt by the time of publication. Bitwise's associated fund is available to qualified purchasers with a $100,000 minimum investment.
Ball described the Ball Multicoin Bitwise Metaverse Index as a "rules-driven index that combines the best of institutional indexing approaches with special adaptations to the crypto and metaverse spaces. That includes various risk screens, such as analyzing liquidity, developer activity, tech and regulatory risk, and "relevancy to the metaverse," said Ball.
"The ultimate goal is to curate the crypto assets that will be outsized contributors to the creation and success of an open metaverse," he added.
The metaverse refers to a future version of the internet that many believe will be built on blockchain technology. It's expected to be a more immersive and interactive experience that people navigate via 3D avatars and use for work, play, shopping, and socializing. It may also use NFT assets for user-owned items like avatars, apparel, and virtual land.
Ethereum-based games like Decentraland and The Sandbox are seen as early examples of the metaverse.
Facebook also showcased its own vision for the space and even rebranded its parent company to Meta last fall. However, it's not entirely clear whether Facebook's plan is for an open platform that is interoperable with others.
Ball is a leading writer on the metaverse whose work has been published in The New York Times, The Economist, and Bloomberg. His book, "The Metaverse: And How It Will Revolutionize Everything," is due out from W.W. Norton in July.
He's also a managing partner at EpyllionCo, which has invested in crypto startups such as Dapper Labs and Mirror, as well as a venture partner at Makers Fund. Ball is also behind the Roundhill Ball Metaverse ETF, which focuses on metaverse-centric stocks and trades on the New York Stock Exchange.
"Our objective was the creation of a diversified, balanced, and expertly-designed crypto Metaverse Index," explained Multicoin Capital co-founder and managing partner, Kyle Samani.
"This required a similarly capable team," he continued. "Matthew Ball is the definitive thought-leader in metaverse strategy and investing. We specialize in crypto assets and are one of the preeminent crypto investment firms. And Bitwise Asset Management is the proven leader in crypto indexes and index funds."

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Meta's losses show the metaverse's costly risk – Insider Intelligence

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Facebook parent Meta launches startup accelerator with India’s IT ministry in metaverse push – TechCrunch

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Meta Platforms is looking at India’s burgeoning startup ecosystem as it bolsters its bet on the metaverse. The social juggernaut has partnered with the Indian IT Ministry’s startup hub to launch an accelerator in the country to broaden innovation in emerging technologies, including augmented reality and virtual reality, officials said Tuesday.
MeitY Startup Hub and Meta’s effort, called XR Startup Program, will work with 40 early-stage startups and help them in research and development and developing workable products and services. Each startup will also receive a grant of over $25,000, the American giant said.
The program, supported by Meta’s $50 million XR Programs and Research Fund, will initially hand pick 80 startups to attend a bootcamp. It will also help startups with finding customers, inking relationships and raising funds, Meta said.
Rajeev Chandrasekhar, Minister of State for Electronics & Information Technology and Skill Development and Entrepreneurship, said the program is especially aimed at helping encourage technology innovation in smaller cities and towns.
The XR Startup Program is the latest of Meta’s growing participation in the South Asian market’s upskilling efforts. The firm, whose Facebook and WhatsApp services identify India as their largest market by users, partnered with Central Board of Secondary Education, a government body that oversees education in private and public schools in the country, to launch a certified curriculum on digital safety and online well-being, and augmented reality for students and educators in the country.
The program — to be implemented by four Indian institutions, including IIT Delhi — will also host a “grand challenge” for innovation in categories including education, healthcare, entertainment, agritech, climate action, sustainability and tourism, the American giant said.
“India will play a pivotal role in defining future technologies. Decisions and investments made here in India now shape global discussions on how technology can deliver more economic opportunity and better outcomes for people. It is critical that we help to create an ecosystem that will enable India’s tech startups and innovators to build the foundations of the metaverse,” said Joel Kaplan, VP of Global Policy at Meta, in a statement.
Meta’s interest with working with startups in India is also not newly found. The company has backed three startups in the country, including social commerce platform Meesho and online education group Unacademy.
3 views: Is the metaverse for work or play?

“India’s rapid tech adoption combined with a vast pool of tech talent puts the country in a vantage position for shaping the future of the internet,” said Ajit Mohan, VP and MD of Facebook India, in a statement.
“For this future to be equitable, it will require active participation from all stakeholders, including developers, businesses, creators, policymakers, and entrepreneurs. We are excited to collaborate with MeitY Startup Hub and hope that the XR Startup Program will act as a catalyst to unlock the use of immersive technology across sectors like education, healthcare, agritech and tourism, not only in India but across the globe.”

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