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The metaverse will fuel massive innovation (and Facebook isn’t the metaverse) – VentureBeat

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Here’s a hot take: The metaverse is not what Mark Zuckerberg says it is. It’s not a place or alternate reality we will all migrate into. It’s not a game. It’s not a land grab (although that is happening). And it’s not just a massive branding opportunity (although there are lots of opportunities for brands to thrive).
The truth is, the metaverse is a decentralized system that has a lot in common with peer-to-peer services like Napster, Skype, and BitTorrent. Oh, and Facebook and Meta do not.
Decentralized peer-to-peer networks are where all the technologists gather and create the architecture that fuels innovation. And that’s true for the metaverse as well.
I’ll give you two examples that are relevant for understanding the metaverse (full disclosure, I had the pleasure of working with both companies earlier in my career).
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Founded in 2003, Skype was part of a wave of technologies (including BitTorrent, Kazaa, and Napster) that connected individual computers in an automated, trustful way. These networks were optimized for bandwidth and reduced the bottlenecks for tapping into popular content. Why was Skype able to rise above the competition as a key player in the market? Peer-to-peer technology. It created a network of nodes that enabled an always-on hyper-efficient community and a connected network. This meant it wasn’t tied to the limitations of any telecom carrier.
Of course, when Skype moved to the Azure platform, the core technology changed. But when it first arrived, Skype was revolutionary and unlocked an incredible burst of innovation that continues to make our lives better today.
Or take Spotify. Like Skype, it used peer-to-peer technology to store and distribute content. Decentralization let the service acquire millions of users and deliver great audio, and the service eventually became ubiquitous. The fingerprints of world-changing peer-to-peer decentralized innovation and disruption are all over the internet.
The real promise of the metaverse is new data-rich experiences and services that are faster, better, and cheaper, whether that’s in finance, virtual socialization, business meetings, healthcare, or anything else we can imagine. The metaverse will encompass all these use cases, and they will all be decentralized. In fact, decentralization is not just a feature of an open metaverse, it’s a core tenet that will avoid bottlenecks and enable interoperability that traverses wall gardens.
For the last 20 years, we’ve seen peer-to-peer or decentralized technologies start off as marginalized technology built for geeks by geeks, whether that be file sharing, peer-to-peer music or crypto mining. But these technologies need to be seen through the context of time and how they’ve improved the user experience, whether that’s enabling free calls and video or enabling instant-on music services like Spotify.
The next generation of peer-to-peer services will enable even greater participation of users who, in a decentralized metaverse, can work directly with each other and trust the network for things like money transfer and social media rather than relying on a centralized operator or service. We’re looking at you, Meta and Facebook.
Napster was a decentralized network with a central index. And that’s what Facebook is trying to build. Napster was at the center of the network and it failed. Whereas BitTorrent, a truly decentralized network, is a self-managing and self-governing technology that powers a rich ecosystem that has endured.
The architecture of the metaverse will be more like that of BitTorrent — or better yet, blockchain. Blockchain is decentralized and truly distributed. We don’t even know who created the ledger. There is no central index. And blockchain has already unlocked an explosion of innovation that will only grow in the years to come.
You may be tempted to roll your eyes at blockchain or crypto or NFTs, but don’t think of those as fully formed products yet. They’re prototypes of the operating system for how we’re going to move forward.
And just in case you think the peer-to-peer decentralized connection is still a stretch, consider who invested in the original technologies and who’s investing in the same space today: Tim Draper. He was a big backer of peer-to-peer technology in companies like Skype, and he also believes that blockchain and bitcoin solutions are better, faster, cheaper than fiat currencies. Same guy, different year, natural evolution.
We wouldn’t have free video calling if we didn’t have peer-to-peer. We wouldn’t have instant music anywhere in the world without peer-to-peer. And we wouldn’t have cryptocurrencies without peer-to-peer. Even the Internet wouldn’t exist without it! All these technologies that we now take for granted have their genesis in decentralization.
And the metaverse is just the next step on that journey.
Faisal Galaria is the CEO of Blippar, a technology company specializing in AR. He is also a former executive at Skype and Spotify.
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SHIB May Have Reached Bottom, Ripple CBDC Hackathon Concluded, SHIB Metaverse Reveals New Concept Art: Crypto News Digest by U.Today – U.Today

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Take a look at what’s happening in the world of crypto by reading U.Today’s top four news stories.
Following the FTX crypto exchange collapse, Shiba Inu dropped to levels last seen in early summer of this year. However, this time, the SHIB price suffered slightly less: after another round of crypto market capitulation, the token did not go below the zone around $0.000009, which may signal that SHIB has once again reached the bottom. There are two factors that may trigger the rise of the meme coin’s price. The first one is Shibarium, the ecosystem’s own Layer 2 protocol, which should greatly increase SHIB’s utility and lead to increased demand, trading volumes and SHIB burning rate. The second factor is the overall crypto market environment. After the FTX crash, investor confidence may take a long time to return and even longer for tokens like SHIB, which are not at the forefront.
According to Ripple’s official announcement, CBDC Innovate, the hackathon the fintech giant organized to reaffirm its commitment to strengthening its positions in the stablecoins segment, has come to an end. Experts shared the names of the winners in three nominations: interoperability, financial inclusion and retail apps. For every nomination, a $150,000 prize was allocated. The winners of the interoperability nomination are payment application PeerPay and peer-to-peer loans machine P2P-CBDC. Checksum and conFIEL B2B platforms became the leaders of the financial inclusion track. Last, but not least, SpendTheBits and Community Loans received enterprise and individual prizes in the retail apps category. As covered by U.Today, Ripple’s competition for projects that use XRPL-based CBDCs started in July-August 2022.
Only 24 hours after revealing the concept art for its scenic dunes, the SHIB Metaverse team unveiled yet another one. This time, it is the tech trench hub that was made in ancient times and yet has evolved into a hyper-technological avenue. While working on this concept art, the team took inspiration from the architectural designs of leading universities and tech schools from around the world, such as Yale University (U.S.), Otemon Gakuin University (Japan), Rolex Learning Center (Switzerland) and many more. To get the necessary feedback from the Shiba Inu community, today the team will conduct the Tech Trench Fireside Chat at 8:00 p.m. EST/5:00 p.m. PST on the official Shibtoken Discord.

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The XRP community could recently see an anomaly in trading volumes, as they exceeded the current market capitalization of cryptocurrencies by 33%. With the combined value of all XRPs at $18.56 billion, in the last seven days, trading volume turned out to be $25 billion. Stablecoins USDT and BUSD are demonstrating similar figures. The abnormal pattern of XRP trading volumes is most likely due to the token being actively used by Ripple in its ODL activities, roughly speaking as fuel for the technology. According to recent reports, the company has seen an increase in ODL usage, both because the business of old partners is growing and because new ones are joining.

Valeria is the community manager at U.Today. She is a crypto enthusiast and believes that cryptocurrency is the future of finance. Currently, Valeria covers the latest news in the world of crypto and blockchain.
 
Disclaimer: Any financial and market information given on U.Today is written for informational purpose only. Conduct your own research by contacting financial experts before making any investment decisions.

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Top 10 Metaverse Cryptocurrencies for 10X Profit in 2022 – Analytics Insight

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Qualcomm ups push for slice of metaverse ecosystem – Mobile World Live

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Qualcomm revealed its latest AR chipset developed for use in smart glasses, which it claims will aid in the creation of wearables able to be used comfortably for extended periods of time.
At the company’s Snapdragon Summit 2022, it unveiled the Snapdragon AR2 Gen 1 platform, its latest product designed to grasp a piece of the nascent metaverse and spatial computing ecosystem.
Among the devicemakers using the chipset in product development are Oppo, LG Electronics, Lenovo, Xiaomi and Nreal.
Qualcomm claims the platform, which has been purpose built for head-worn AR devices, achieves 2.2-times the AI performance and consumes half the power than its previous offering for the segment.
The company notes it also takes up a smaller area on the glasses, aiding the creation of more usable wearables for enterprises and consumers by making them lighter and “sleek”.
“With the technical and physical requirements for VR/MR and AR diverging, Snapdragon AR2 represents another metaverse-defining platform in our XR portfolio to help our OEM partners revolutionise AR glasses,” Qualcomm VP for XR product management Hugo Swart stated.
Alongside the new AR glasses platform, the chipmaker announced its latest Bluetooth audio chips, the Qualcomm S5 Gen 2 Sound Platform and the Qualcomm S3 Gen 2 Sound Platform.
Chris Donkin
Chris joined the Mobile World Live team in November 2016 having previously worked at a number of UK media outlets including Trinity Mirror, The Press Association and UK telecoms publication Mobile News. After spending 10 years in journalism, he moved…
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