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METAVERSE AND WEB3 INDUSTRY OUTLOOK
The concept of a metaverse can be broadly defined as, "the use of advanced technologies such as virtual and augmented reality to create a boundless virtual reality...in which land, buildings, and even customized avatars are traded utilizing cryptocurrencies. Individuals can explore various well-known places and locations, build friendships, create virtual assets, buy and sell products and services, and participate in virtual events in the virtual environment of the metaverse.
There are several technology companies that are investing in the metaverse and Web 3.0 applications. Facebook (Meta) is looking to usher in a new era of social media. Microsoft sees a potential audience of companies that need virtual or hybrid work solutions. Nvidia, Google, and other hardware and infrastructure providers are looking to become the backbone of a new internet applications. Game developers envision expanding their game worlds.
MBD looks to participate in several of these opportunities, but believes that to make each work, first there needs to be a strong, decentralized, cross-blockchain, financial-freedom focused foundation to the metaverse. Financial services are a functional building block that empower people worldwide, improve the experience of virtual workers, immerse gamers into new worlds, and so much more.