China Can’t Regulate Virtual Worlds – The Pros of Decentralized Metaverses
China’s crackdown on cryptocurrencies has reached a new level of intensity in recent weeks. The People’s Bank of China (PBOC) has previously decided to prohibit financial institutions from dealing in virtual currencies, including Bitcoin and Ethereum. More recently, the PBOC has attempted to shut down cryptocurrency transactions and mining entirely. This news has sent shockwaves […]
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There are many opportunities in the Web3 and metaverse space. Excitement is building, and projects are coming to fruition. However, there needs to be a stronger focus on interconnecting the virtual worlds, as society doesn’t need more siloed ecosystems. Connecting Metaverses Is Essential While one must apply the teams building their metaverses, some criticism is […]
The Metaverse allows people to interact with one another, digital objects and the physical world through their avatar in a virtual environment. As nonfungible token sales appear reanimated after a nearly two-month dry spell from their apex in May, a particular NFT application is gaining popularity more than ever: metaverses. Metaverses have gained their fair share of media attention lately, with big moves coming from companies like Facebook and Epic games. However, not everyone — even those who have been in crypto for a long time — has caught on to what metaverses are, despite the hype.....
The cryptocurrency space has grown immensely throughout 2021. At the beginning of the year, NFTs were just a mere notion. However, as the year progressed, they picked up the pace. The OpenSea marketplace for NFTs saw vast volumes of over $3 billion as NFTs such as CryptoPunks and the Bored Ape Yacht Club sold for millions of dollars apiece. The Metaverse has also taken shape recently, as many giant corporations begin to be interested in this virtual world. There is a need for open-source NFTs that can be used in any Metaverse regardless of the chain. Guzzler is a project that has....
During an interview with China Central Television (CCTV), a predominant state television broadcaster, L H Li, the former governor of Bank of China, one of the largest banks owned by the Chinese government, and member of the People’s Congress, stated that the Chinese central bank should try to regulate Bitcoin companies and users rather than attempting to stop the adoption of Bitcoin. Can anyone or anything actually “kill” Bitcoin? Bitcoin runs on a peer-to-peer and decentralized architecture with the absence of centralized government and authority. Anyone within the network can initiate a....
When anonymous developer Satoshi Nakamoto launched Bitcoin in January of 2009, nobody knew how impactful cryptocurrency would become. While rumors regarding its potential floated about, cryptocurrency changing the world was just a far-off pipe dream. Today, it’s all coming true, and what started as an experimental payment system for the techiest of the techies is disrupting industries worldwide; gaming included. In hindsight, it’s no surprise that digital currency and digital worlds go together – cryptocurrency fits gaming like a glove. With the help of related blockchain technologies like....