Young Platform

To the Metaverse and beyond with Young Platform

Elisa Campaci

November 8, 2021

2 min

In Young Platform November is the month dedicated to Meta and the Metaverse: every wednesday a new cryptocurrency

As everyone knows by now, on 28 October Mark Zuckerberg announced the rebranding of Facebook to Meta. The name refers to the company’s vision of creating a metaverse that brings together all its products to create a single virtual interaction space.

So these days there is nothing but talk of the Metaverse, but it is not a new concept.

The Metaverse is a dematerialised parallel world using virtual or augmented reality technologies.

In this parallel reality, you can play, create, make friends and even work. Many companies are involved in creating technologies to facilitate access to this dimension or experiment with virtual worlds’ operation.

You may have heard of Second Life, a game released in the early 2000s, seen films such as Ready Player One, or perhaps even tried a pair of VR goggles. More recently, you may remember that social distancing brought out new ways of visiting a museum or a house on real estate sites last year. Well, this is the next frontier of the Internet.

What happened in the crypto market?

If you are even familiar with the crypto and NFT environment, you will have heard of metaverse on blockchain, such as The Sandbox. Blockchain projects are even more fascinating because they make the metaverse decentralised, so its management is in the hands of the players.

This is where it gets interesting. The social giant’s announcement, in fact, had a particular effect on the small blockchain world: the price of some cryptocurrencies linked to a metaverse on blockchain went up considerably.

Axie Infinity (AXS), the largest-capitalised NFT-cryptocurrency, reached a new All-Time-High on 6 November, with 25% growth since the announcement.

The Sandbox (SAND), on the other hand, is the one that has done the most impressive numbers, with a 224% price increase from 28 October to 8 November.

It seems only right that we devote the rest of this November to the Metaverse, in all its facets, but especially on blockchain.