FinTech Global: Is the metaverse the next frontier for banks?

authorBanxe Team
time 1 min read date 10.03.2022
image delimiterNews

"Ever since Meta, formerly Facebook, gave that presentation on its move to the metaverse, the virtual world has become more of a reality.

The concept of the metaverse has been around for many years. Virtual reality and augmented reality technology have helped blend the real and digital world, with us getting ever closer to a sci-fi fantasy.

While we are still very far away from The Matrix, there are several metaverse platforms people can explore. One popular one is Decentraland, which initially launched in 2017. Decentraland is a decentralised virtual world where people can buy plots of land and create items to fill the world. It is run by a DAO (Decentralised Autonomous Organisation), which owns the most important smart contracts and assets. There is a sense of community contribution to the platform's development, with any policy updates, land auctions and whitelisting of NFTs being voted on by the community..."

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