The Metaverse project is already heating up Cryptos and NFTs.
Hello dear friends of leofinance, I hope you are all very well.
Today I bring you some information that confirms some of the projections I told you in my previous article where I talked about what is the metaverse and its possible impact on finance and the world of cryptocurrencies and NFTs
But before I continue I must make a small clarification. What I write below MUST NOT under any circumstances be considered an investment recommendation. As you will see below. Some things are not clear yet. The following article is intended to inform and encourage discussion and exchange of information.
That said, let's continue with the news. With the announcement of Facebook's Metaverse project and the obscenely large investment being made by Facebook, now known as Meta, and other companies in the entertainment and technology sector, many asked themselves the same question, what will be the currency or currencies with which the Metaverse economy will work.
Well, many of us here think the same. What better than cryptocurrencies? But the big organizations that create cryptoassets and trade with them apparently are not going to wait for a clear answer. Already many companies are investing time and money in projects associated with the metaverse, and we are seeing the birth of cryptocurrencies designed with the projection of using them in the metaverse.
Recently Devid Grider who is head of research at cryptocurrency giant Greyscale indicated in a report that the profit potential that the metaverse could bring would exceed a TRILLION dollars a year. Of course he did not indicate when this point would be reached, but one thing is for sure, it is still a long way off. While the technology matures and the network adapts.
But that doesn't stop money from already starting to change hands. Last Tuesday a piece of Decentraland's digital land https://market.decentraland.org/ sold for a record $2.43 million... more than some properties in midtown Manhattan are worth... the lots in question are intended to serve as a base for digital fashion projects, which we know will be a big deal in the metaverse.
But it's not just decentraland. Axie infinity has also gotten involved and perhaps their axie growth last month is related to that, as Mana, the decentraland currency has reported 550% growth in the last month.
Axie's entry into the project indicates that the play-to-earn mechanics will be in the metaverse from the beginning. That means new opportunities. The integration of this with more traditional digital work mechanics and a cryptocurrency economy is the recipe for a new economic world.
But not only that, with the announcement of the metaverse project, many went ahead to create the first Meta-coins and my friends... they are growing. In the following graph you can see the 20 most active so far according to coin market cap.
So with all this we can assume that there is a good chance that a large part of the metaverse economy will be cryptocurrencies, NFTs and other cryptoassets, which is good news for us.
Of course, friend Mark Zuckerberg has not yet stated whether his part of the metaverse project will incorporate the cryptocurrencies we know about, but the project is not his alone. It is a global initiative, and although some large corporations may try to block cryptos, I think it is impossible for all of them to resist the great potential for profits and benefits in these.
But tell me my friends, how do you see the outlook of the metaverse? I'll read you in the comments.
Recommended Bibliographic Reference
[1]metaverse 1 trillon opportunity grayscale virual land sales decentraland
[2]metaverse property decentraland sale price mana coin cryptocurrency 2021
[3]these 20 metaverse coins are invertors new favorites
