Cryptocurry And The Metaverse

The worlds of cryptocurrency and the Metaverse are already converging.

What do Jay-Z, Sony, and Jim Cramer all have in common? They are entities, or have ones, that are looking at the Metaverse. This is something which is garnering a bit more attention of late as people start to see the progression moving in that direction.

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Most identify the Metaverse as Ready Player One, the hit move from a few years ago that showed the potential of the virtual world.

While that captured a part of what the Metaverse will be, there is likely a lot more to it than that. At present, it is hard to exactly define since it is more conceptual than reality. However, companies like Facebook and Epic Games are working to bring this to fruition.

Virtual Merging With Physical

In the abovementioned film, the characters entered the Metaverse by putting their virtual headsets on. This is akin to the phase of the Internet before mobile, when we physically "logged on". Today, we are really always online as our phones are constantly interacting with the web. We simply open up an application to proceed.

The likely situation with the Metaverse is that we will see the merging of the virtual and physical worlds. Ultimately, we will live in a mixed reality, with the scale between our physical and virtual worlds simply being degrees. In the middle, we will have augmented reality, placing a digital layer over our physical world.

This changes how we work, communicate, socialize, and educate ourselves. Just like the Internet penetrates most of our lives today, the Metaverse is the next generation of this evolution.

Cryptocurrency Is Key To The Metaverse

Many question the long-term viability of cryptocurrency. This is something that comes from people looking it this through the #financial lens as opposed to #technological.

That said, some money players are starting to understand where this is going. Consider Ed Lopez, managing director of the ETF Product at VanEck (they were one of the companies to file for a Bitcoin ETF):

"We are going to have digital art, tokens used to play and buy skins in video games, and use a video game to access different concerts and venues. There will be a whole new kind of digital world where digital natives, the younger generation coming up, are participating in this and used to it today. But, it's developing even further and I think blockchain technology plays right into that," Lopez added.

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Obviously, he opted to focus upon blockchain but we know what is built right on top of that. Cryptocurrency is presently the biggest use case for blockchain technology. It is something that is growing rapidly, attracting more people as time passes.

As we get closer to the Metaverse unfolding, we are going to see the number of cryptocurrency users exploding. We can see where the focus is going to come from: gamers. It is likely that we will see crypto transactions interwoven through most games in the next few years.

Of course, the likes of Sony Music and Jay-Z are interested in something a bit different. They are not into gaming as much as the concert and music capabilities. Here too we see where cryptocurrency enters the picture.

Digital Ownership

Another factor that is vital to this is the concept of owning these assets. Music and video rights are big business. Here we see non-fungible tokens (NFT) stepping up.

This is another area that is in its infancy. During the height of the cryptocurrency bull run, we saw NFTs take on a bit of a mania feel to them. Quite simply, things got a bit crazy.

However, that does not mean we toss out the baby with the bathwater. There is a valid use case for NFTs and that is digital ownership. This not only applies to things created in the digital realm such as virtual land or skins to games but also real world assets record in that arena.

We again harken back to Ed Lopez for his views on this matter:

"To me, that's a fascinating area to think about. As someone who invests in real estate, the idea of not having to deal with a title company, not having to deal with an inspector or other intermediaries totally lowers the cost of that type of transaction. And, I think you'll see that in other industries as well," Lopez said.

Notice how this utilizes some of the features describing NFTs. One of the keys is that we have an immutable database that tracks the history of ownership of the token. Isn't that was a title company searches? With the Metaverse there is no need for any of that. Ownership is going to be digital.

We Are At The Information Superhighway Phase

Do you recall when the term "Information Superhighway" was used to describe the Internet? Obviously, that was something that we did to capture its essence. We now know that missed the point completely since it is only a small portion of what we today know as the "Internet".

While it was misguided, we will see the same apply to our concept of cryptocurrency and the Metaverse today. What we are trying to mentally capture with our descriptions only touches upon a piece of what will eventually develop. We only touching upon the surface.

Of course, this should excite people even further. The reality is that cryptocurrency is only going to expand in terms of its use case and the potential it carries. As the technology unfolds, developers will incorporate it to a much greater degree in what they are developing. Whether it be gaming, music, record keeping, educational certification, or a host of other things not yet created, we can see where a lot of this is going.

We often discuss the idea of the future being "communities instead of corporations". The Metaverse takes what we are putting together today and makes it 3D. The future is not one where we spend our days looking at flat screens.

The Information Superhighway idea did not capture the Internet. By the same token, the concepts we are conveying today will not do justice to what the Metaverse will be. However, we all need a starting point. If we can grasp some of the ideas of today, perhaps we can then start to understand what it will progress into.


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Bang, I did it again... I just rehived your post!
Week 64 of my contest just started...you can now check the winners of the previous week!
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I am curious, in the past five years was there ever a technology that people were as excited about as crypto in terms of bringing about all of this change that we are going to see? I guess I am just curious if crypto is just another item in a list of things that didn't pan out or if it is light years ahead of anything else that has been proposed. Does that make sense?

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It makes a lot of sense. Cryptocurrency is well beyond the hype cycle in my opinion. You could have made the case in 2017 that it followed Gartner's hype cycle chart. But we are now to the point there we are seeing development all over the place.

So I think this is a done deal since it is going to be integrated into so much. What we see on #Hive is just a taste of what is to come. That is why continued development is vital.

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Okay, that makes sense. I was just curious since I assume there have been people in the past who believed something else was going to be the next big thing or driving force behind massive change.

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There are a lot of things that get hyped up in the #technology world. It ends up getting ahead of what the technology can accomplish. We saw this a number of times with Virtual Reality.

The Metaverse is coming and cryptocurrency is going to be a large part in it. After all, how do you propose ownership of digital assets is established.

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Yes, VR and the whole 3D televisions thing. That was a huge disaster! They needed a few more years. I personally think they should have been focusing on holograms versus 3D.

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we are a suppressed technology

imagine when they start promoting blockchain at local levels in cities around the world

throwin up @telosnetwork and hive gang signs

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Hive will be built inside TELOS soon as HIVED witness nodes run in the Telos DSTOR amazon a3 competitor

then we will have the HIVE RAVE with NFT tickets and smart contracts to decide which artists get paid and play... huge bounties for a blockchain music festival where we represent all the coins and get on the news .... and everyone who gets in HAS TO BUY A HIVE ACCOUNT as part of the entry registration like EDC makes you process to get in lol

checkin ID on the hive chain for mega raves 😎

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WHAT? didnT PAN OUT?
are you one of these crazy people who thinks the dot com bull run was a "bubble" while youre literally using a hand held star trek device built on trillions in tech investment? lol

spoiled lil bitches think they deserve better lol

THIS IS ALL YOU GET BE GRATEFUL FOR YOUR NEW ALTERNATIVE TO THE FEDERAL RESERVE

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VR Headsets give many people, including me, motion sickness.

The older you get the less your brain can cope with VR headsets.

Probably more than 50% of the population can’t use them and given the aging and declining numbers of consumers the world I think they have limited application.

In contrast everyone can use cryptocurrency.

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The VR Headsets of today. I have a feeling you will find that isn't the case in the future. They are going to have to correct that and many are researching solutions.

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Lord ass hamilton my man, we dont need VR headsets, taskmaster is being a dumb dumb, all we need are projectors on every fucking street light in america hahahahaha

we will all have LCD screens in everyones window, mining ad pixels, hive ads, telos ads, put up a HIVE logo in your window and get paid 1 hive a day or week or whatever, the more hive ad signs you put up and have a "witness" see the more ad money you get

The AR becomes real when people start drivinga tesla by your house with an AR holographic projector to display whatever you oaid for lol

AR / VR glasses SUCK and will be seen as 90s VR headsets lol

theyre only useful for some LIMITED educational medical and 3d modeling applications, but even then they sorta suck! Crypto will use NFTs to unlock hotel rooms and shit ... with no managers, if theyre dirty they get cleaned by a local cleaner who is like an uber driver a teenager hired to go around doing these jobs liek cleaning robo taxis etc

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CRYPTO WILL BE USED TO PAY FOR ELECTRICITY

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Yeah I hope we have ours own digital world like reality

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It makes me wonder why those mainstream guys keep spreading FUD in crypto despite knowing about the metaverse. I just don't understand why they won't adapt.

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Depends upon who you mean by "mainstream"?

The likes of Facebook want to control it. Others might be aware of it yet not making the connection to cryptocurrency.

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they are NPC boss AI from the metaverse bro

the Et are here to provide blockchain from a higher dimension (which can easily communicate to beings in 3d with digital internet )

Now we are being UPLIFTED into an orderly rationally self interested world and these MAINSTREAM GUYS are basically HOLOGRAM shadow selves in the water temple lol

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Much of the current reality is being thrown upside down ie Covid,crypto, decentralization of everything. Many of these individuals can’t see a world where they don’t control anything. It’s a tough pill for most to swallow. It is why these disruptions will create a grand equalization of mankind. We are at the point of adapt or get left behind.

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