Facebook founder Mark Zuckerberg has announced plans to turn his social media giant into a “metaverse company” that could impact Diem’s stablecoin plans.
In an interview with The Verge, Zuckerberg argued that “a good vision of the metaverse is not something that a particular company builds,” but rather one that has a “sense of compatibility and mobility.” “
What is the metaverse
The metaverse is described as a shared virtual collective space created by the convergence of de facto enhanced physical reality and physically persistent virtual space, including the sum of all virtual worlds, augmented reality, and the Internet.
You already have an avatar and digital assets and want to be able to teleport anywhere. You don’t want your business to be tied to one company. This system must be portable and connected to function properly.
He said he envisioned a decentralized Internet that would not be centrally managed, but would be governed by many different actors “decentralized.”
According to Business Insider, a Facebook spokesperson said Zuckerberg “didn’t think the metaverse was something that a business could build or run on its own.” Instead, the spokesperson noted, “This is a collaborative movement that must take into account the developers and communities of authors to be successful. “
Metaverse proponents have pondered the role for years crypto, game currencies, technologies blockchain and non-fungible tokens (NFT) may play in the future.
And although global regulators have already forced Facebook and its partners crypto Diem (formerly Libra) to ditch its plans for a global stable currency in favor of a scaled-down version, the social media giant may already be considering a new price tag as metaverse architects seek a dominant digital currency for use in space.
On the “CryptoCurrency” subgroup of Reddit, some expressed doubts, with one claiming that Facebook was quickly becoming boring as it was now heavily populated with “toxic boomers yelling at each other.”
However, not all of them were negative. Redditor One claimed that Facebook “ the best developers in the world ” and ” by far the largest team working in virtual reality. “
“They are so far ahead of the game that I have no doubt they will control the first major metaverse. With their pockets, they will also have exclusive contracts, for example, with directors and musicians. “
On Twitter, Miko Matsumura (founder of Evercoin and general partner of Gumi Cryptos Capital) also advised caution.
Mark bets on MetaVerse …
“It will be ‘the Internet incarnate,’ said Zuckerberg, decentralized by many different players.”
– Danny Iskandar ⭕️ 🦀 (@diskandarcrypto) Jul 23, 2021
The upbeat crypto enthusiast stated that the move inevitably made a big difference to the world of NFT, the Ethereum blockchain protocol on which most NFTs run, and cryptocurrency in general.