What is the Metaverse?
Bitcoin is seeing impressive growth on nearly all fronts as we enter the final weeks of Q3 2021. We suggest investors look past the crash in prices last week, which we believe was a result of soft spot volumes and liquidations of overextended leveraged longs, and examine the on-chain data, which points to continued growth in the Bitcoin network. We areThe Metaverse is a digital world powered by Web 3.0 technologies, such as the blockchain. It is an ever-evolving virtual world in which we work, interact, and spend our leisure time in. This concept has appeared repeatedly in sci-fi novels and films: players donning a headset to enter a virtual reality (VR) world, teleporting between realities, or appearing via hologram. While the concept can still seem farfetched today, there is no question we are spending more and more of our lives either looking at the screens of our computer, television, tablet, and smartphones. Our acceptance, and need, to use such technologies makes the Metaverse inevitable. With so much of our lives digital today (emails, texts, video calls, social media, etc.), the logical next step is to digitize more components, such as our personas (avatars), items (tokenized assets, non-fungible tokens (NFTs)), and interactions (workplace, meetings).
Neil Stevens first coined the term Metaverse in his 1992, VR-inspired sci-fi novel Snow Crash. In the book, humans are portrayed as avatars which interact with each other and AI-generated software agents in a virtual space, as a metaphor for the real world.