Facebook unveils the Metaverse vision! On-chain Outlook Edition #13 (29/10/21)

Zucc drops the Metaverse, Ethereum touches all-time highs ⚑ Wrap up the weekly trading session with Q's fresh assessment of on-chain analytics - delivered every Friday from the Qluster Data Labs πŸ‘‡

Q reflects on another dynamic week in the wonderful world of cryptocurrency

In the life of a crypto trader, dull moments are often rare in recent times. This week proves to be no exception.

Interestingly, pack leaders rise victorious from the bowels of the β€˜meme’ coin ecosystem - e.g. Shiba Inu ($SHIB), Floki Inu ($FLOKI)

Fanning tinders into flames, Facebook announces a change in their name to β€˜Meta’ that better reflects their enhanced vision of creating a digital universe or β€˜Metaverse’ in which humans can interact within the confines of a shared virtual space.


Some readers may now wonder - what exactly is a Metaverse? 


Q finds it helpful to think of the Metaverse as a common 3D digital space accessible via VR headsets such as the Oculus. 

Visualise a virtual location where one can interact with others and engage in friendly conversation with other users in the Metaverse.

Perhaps, one may even attend work meetings - or play a game of meta-golf with other merry meta-folk.

Why is the Metaverse so important? 

Qluster analysts suggest that the recent move from Facebook reflects a paradigm shift in technology that was initially limited to entertainment applications such as gaming or watching 3D movies. 

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