Does the Metaverse need blockchain to ensure widespread adoption?
While not absolutely necessary, omitting it would be misguided. “The Metaverse without blockchains would likely just advance the ball for Big Tech.” Many assume, too, that blockchain technology will play a key role in the Metaverse, along with other emerging technologies such as artificial intelligence (AI) and virtual reality (VR). But, is the use of blockchain really a foregone conclusion?Stanford University professor Jeremy Bailenson recently moderated a World Economic Forum panel with some of the world’s leading thinkers of the Metaverse and blockchain. “The first question posed to the....
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The metaverse is expanding. An immersive world replete with interactive experiences is opening up in front of us, and thanks to the nascent play-to-earn model and NFTs, economic opportunities are baked in. Although it’s too early to say whether the metaverse will achieve widespread adoption, and in the process become a hub where participants can […]
The benefits outweigh the risks when it comes to the adoption of Metaverse for small businesses. The Metaverse has been become one of the biggest buzzwords in the blockchain and crypto, as it promises to provide a more immersive, interactive and collaborative experience than what the internet has accomplished to date. This promise of a new world has huge enterprises like Meta (formally known as Facebook) investing huge sums in the budding space. When most hear the name Metaverse, their mind wanders to a few things: an avenue for global conglomerates to showcase their technology-forward....
“Even though it's hard, adapting Web3 technologies to Web2 platforms could be a way to bring mass adoption,” says Klaytn Foundation director Sam Seo. Sam Seo, the director of metaverse-focused blockchain Klaytn Foundation believes widespread adoption of the Metaverse will be “easier” if Web2 companies integrate the tech with their products and services. Speaking to Cointelegraph during the Korea Blockchain Week (KBW) on Aug. 8, Seo suggested that Web3 Metaverse projects generally have issues attracting a mainstream audience, as normal people often have a hesitancy to use new technology....
Bank of England’s analysts say crypto assets could have important roles within the metaverse. “Widespread adoption of crypto in the metaverse … would require compliance with robust consumer protection and financial stability regulatory frameworks,” they added. Bank of England’s Analysts on the Metaverse, Crypto, and Regulation Bank of England’s economist Owen Lock and policy analyst Teresa Cascino published a blog post titled “Cryptoassets, the metaverse and systemic risk” Tuesday. “Cryptoassets could have important roles....
Though digital assets are down, many other sectors of the blockchain space are flourishing. The NFT and metaverse spaces are doing exceptionally well. The NFT market surpassed the $7 billion mark with many indicators of further enterprise adoption with companies like Facebook investing $10 billion in the Metaverse. However, because both markets are still in […]