Hold your beer, a $100 billion Crypto Metaverse is coming
Crypto metaverse is a place powered by decentralised finance (DeFi), a high-octane $100 billion web of largely unregulated platforms that lend and exchange cryptocurrency in exchange for fees.
The concept of the Metaverse envisioned by Facebook and Microsoft Corp. — think virtual offices crammed with creepy Dorian Gray-like avatars — is nowhere near as dystopian as the cryptocurrency-fueled metaverse that already exists today.
Crytpo Metaverse is a place powered by decentralised finance (DeFi), a $100 billion web of largely unregulated platforms that let traders buy and sell cryptocurrency for a fair amount of return.
Crypto Metaverse is one spot where anyone can earn anything. For example, people can make money playing blockchain games like Axie Infinity. Sounds cool, yes?
While the same metaverse has also let bitcoin fall, at least we can blame it for decentralising the stock liquidation and taking the Squid Game token to the #1 spot on the crypto wall of fame.
So the question that still remains is- how risky it is? Is it safe from hazards of gambling or progressive loss in acquisitions? Or how long it will sustain?
The answer to the later part is- Most likely not for very long, given that DeFi is already being scrutinised by regulators.
Enter the crypto metaverse
The reality today is that even these DeFi projects are incorporated with risks and pre-analysed hazards. When you read the first copy of crypto theories, it’s clear that there are huge risks. In one offering, for example, an India-based entity is linked to a Delaware-based entity, which is linked to a pool of crypto assets managed by another entity.
Crypto metaverse to enter India(?)
Entering India is not a cakewalk for the crypto metaverse. There are legal issues and scarcity of resources for investors who use to fund general business operations for all things crypto.
There are not many solutions as well if something goes south with the algorithms of an event like a loan default.
The increase in institutions like DeFi directly impacts the establishment of bank parodies and fictional cost incumbents. Plus, regular banks like TradFi have alreadyentered the fray.
Meanwhile, the corporate world’s curiosity has been piqued. Even Facebook, which is under regulatory scrutiny, is pursuing its own stable coin goals with a pilot digital-payments project in the United States and Guatemala.
Perhaps, in the future, Mark Zuckerberg’s stuffy Metaverse offices will be backed by metaverse money — half-real, half-virtual, but fully regulated.
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