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Over the past few quarters, Metaverse has evolved significantly, and the most astonishing fact is enthusiasts are purchasing virtual properties. However, the Ethereum co-founder, Vitalik Buterin, advocates for technology much more than virtual reality.
Most recently, the renowned crypto mogul Vitalik Buterin said that the Metaverse is not what we think; he believes it is much more than that. Metaverse is a spatial computing platform that provides a digital experience as an alternative to or a replica of the existing world.
During the BUIDL Asia conference in Seoul, Buterin said, “The Metaverse is poorly defined and often seen more as a brand name than a product. It’s envisioned as a virtual universe where everyone can participate and is not owned by anyone,” he adds “It’s frequently associated with virtual reality, where needs are simpler, akin to wanting a laptop without the laptop.”
Ethereum’s co-founder urges that the Metaverse is usually termed a virtual reality; however, it is the be-all and end-all of the Metaverse. He further highlights, “It’s super useful but not really a-verse.”
As per the concluding statement of Buterin, for the smooth and desired function of Metaverse, the world requires something that combines “all the different virtual world elements we already have, including crypto, virtual reality, and some AI parts, in the right way.”
Other Related News
Earlier this week, a renowned crypto media outlet reported that a university in Pakistan had launched the nation’s first-based classes. Information Technology University (ITU) of Lahore is a famous Pakistan-based university.
Dozens of giant companies have already entered the Metaverse category; however, some are debuting as semiconductors and other service providers.
Metaverse Market Size
According to Polaris Market Research, the world Metaverse market was worth $59.61 Billion in 2022. However, the market is expected to grow significantly and reach $507.8 Billion.
The growth pace of the category between 2024 to 2030 is 37.73%.
Can Metaverse be Used in the Cryptocurrency Space?
Utilizing a single centralized cryptocurrency exchange metaverse platform eliminates the hassle of exchanging one cryptocurrency’s traditional currency for another. Several cryptocurrencies are primarily used to buy land in Metaverse.
Crypto Market Price Update
The crypto market capitalization fell 1.32% in the past 24 hours; when writing, it was $2.64 Trillion. Since the last few months, the market cap has been constantly tumbling; in March, the cap reached close to $3.00 Trillion.
Bitcoin (BTC), the market leader, lost 1.11% of its trading price and is trading at $70,059; a decline of 24% is seen in its volume. Mantle (MNT) surged 39.55% intraday, which makes the topper of the gainer list, Sui (SUI) at 15.05%, Fetch.ai (FET) at 12.98%, and SingularityNET (AGIX) at 10.63%.
KuCoin Token (KCS) 14.38%, Kaspa (KAS) 9.97%, Floki (FLOKI) 7.80%, Conflux (CFX) 7.31% and Immutable lost 6.68%.
Disclaimer
The views and opinions stated by the author or any other person in this article are for informational purposes only and do not constitute financial, investment, or other advice.
Anurag is working as a fundamental writer for The Coin Republic since 2021. He likes to exercise his curious muscles and research deep into a topic. Though he covers various aspects of the crypto industry, he is quite passionate about the Web3, NFTs, Gaming, and Metaverse, and envisions them as the future of the (digital) economy. A reader & writer at heart, he calls himself an “average guitar player” and a fun footballer.