Refik Anadol's art installation "Machine Hallucinations - Space: Metaverse" is an art installation.
Siu is from the same area.
The metaverse will cause cryptocurrencies to be used for transactions, according to a strategist at Bank of America.
According to Haim Israel, the metaverse is likely to drive a boom in the development of virtual-world platforms.
The head of global thematic investment strategy at BofA believes that this is a massive opportunity. The right platforms will be a big opportunity for the entire system.
Israel predicted that the metaverse would be where cryptocurrencies would be used. Some types of stable coins will probably come to dominate, as he said that existing digital currencies are likely to prove too volatile for this.
The term metaverse refers to a range of online 3D virtual environments in which people can play games, build things, socialize, work, and even trade and earncryptocurrencies.
The interest in the metaverse has gone up after Facebook said in October it would change its name to Meta to signal its commitment to building out its own platform. Big companies are racing to build digital worlds.
Decentraland is a popular platform that allows users to buy virtual plots of land, build their own structures, and vote on the governance of the economy.
A parcel of real estate on Decentraland recently sold for over two million dollars. The property in The Sandbox was purchased by Republic Realm.
The metaverse is where people will start using cryptocurrencies for transactions, according to Israel.
The idea is that the new virtual worlds will be powered by the same technology that underpins cryptocurrencies. It allows metaverses to remain independent, rather than under the control of tech companies.
Israel said that many digital currencies are too volatile to be used for transactions. Stable coins are pegged to stable counterparts such as the US dollar, so metaverse developers are likely to use them.
The BofA strategist predicted that traditional payments companies will be more interested in cryptocurrencies if they are widely used in the metaverse. He said he saw a lot of collaboration between the two.
Many people are skeptical of the metaverse. Virtual worlds have been around for a long time, and virtual-reality headsets have never really taken off.
Others are not sure if cryptocurrencies will gain wide adoption, and they are not sure if Facebook will end up dominating the metaverse.
Ben Gilbert, a venture capital executive at PSL, said he was not sure if the metaverse would be user-owned or undefiled if it was developed by Meta, Microsoft, Apple, etc.
Raj Gokal, co-founder of the solana network, shared his own doubts in a last week.
"I worry that the metaverse is overstated," Gokal said. "I haven't seen much hype in mainstream media over a new product, maybe ever."
Matthew Ball is a venture capital investor who shares 6 stocks to play the opportunity that could drive multi-trillion dollars of value.
Business Insider has an original article.
