The Influence of the Metaverse in the Crypto Industry
It has been an exciting year with several up’s and down’s in the crypto space, The cryptocurrency market cap has tripled from its 2020 year-end value to be worth more than $3 trillion as different investors have gotten more comfortable with established tokens such as Bitcoin, Ethereum, Solana, Binance etc. just to name a few.
The world is moving extremely fast and the crypto space has not been left out. 2020 was filled with the DeFi wave, A revolution from the traditional finance economy and ushering in a new and more effective way of carrying out financial transactions and also redefining the entire sphere of the world’s economy.
We all loved it because it provided an easy way to borrow, lend, stake, farm and also earn more crypto currencies.
For 2021 we saw a lot of trends about NFTs, GameFi and lately, the Metaverse.
The fun from 2020 became extremely exciting with new crypto technologies emerging that enabled crypto gaming projects to offer its users (players) several options to benefit from the games in the real world such as the play-to-earn crypto gaming feature. Gamers were rewarded for playing games unlike before.
We also experience new forms of monetization within the digital art space with the concept of NFTs. Digital creators and collectors were rewarded for owning NFTs.
2022 looks like the year for Metaverse and it’s happening faster than you think, with Mark Zuckerberg rebranding his company from facebook to Meta.
The Metaverse can be described as the combination of multiple elements of technology, including virtual reality, augmented reality and videos where users interact within a digital universe.
Covid-19 pandemic has also caused a major change on how we socialized as human’s and as such increased the demand to do things in a virtual space.
The market opportunity for bringing the Metaverse to life may be worth over $1 trillion in annual revenue and may compete with Web 2.0 companies worth ~$15 trillion in market value today,” the Grayscale report notes.
With Augmented Reality (AR) technology gaining more traction and be explored more everyday. From virtual classrooms and meetings even virtual music concerts, gaming, AR gives us a way to connect our virtual world to reality in new, exciting ways. A world where people have profiles and interact with digital assets with augmented reality, is developing rapidly as blockchain technology evolves.
Hololoot believes in AR and with it’s AR solution everyone can generate beautiful AR NFTs from any 3D model using a desktop or a mobile phone. Instead of trying to explain to your friends what NFTs are, imagine being able to show them.
The Metaverse is limitless and with brave ideas and the right approach, the impossible will cease to exist and the only limitation will be our imagination.
Conclusion
There is no doubt that Metaverse technology will advance rapidly with the rise of cryptocurrencies, the gaming industry and the NFT space.
Hololoot and its AR solution looks set to evolve how we all visualize NFTs and also enhance the metaverse revolution.
2022 will be amazing for Hololoot and the Metaverse.
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