The Negative Effects of the Metaverse

Binance just became the first crypto brand to sponsor the Grammies, just in time to poach Microsoft’s corporate VP to be its CTO.

Everyone’s watching bitcoin. Will it go up? Will it go down? Will it bow to Ethereum? And while eyes are watching BTC, some altcoins—such as Terra Luna—are booming. In fact, Luna recently hit an all-time high with a 9 percent increase.

This year, the metaverse is all the rage. It promises to spur massive innovation, but will it? It could change the way movies are made. And the way scientists conduct research. But what will be its effects on society? Will it change our mental health? Let’s be honest. The human race doesn’t have a good track record for knowing what’s good for it. We like innovation, we praise progress, we elevate and worship novelty. But often technological advancements have negative effects that we’re willing to live with in order to gain the benefits. Industrialization brought us massive amounts of pollution, new health conditions, and terrible social ills, but we consider it progress. The internet and social media has given us higher rates of depression and anxiety, health issues such as eyestrain (which I’ve personally experienced), sleep problems, and more. Still, it’s been a big boon to the economy and has enhanced personal lives tremendously (it’s allowed me to make a living). Providing this reality, it doesn’t hurt to ask what negative effects may come about as a result of a new innovation we have yet to realize the full benefits from. Go metaverse!

The Dubai police have issued their own NFT collection while WeChat, to avoid speculation, has suspended NFT accounts. That may seem strange, but it’s a well-known investing truth that the greater the potential return the bigger the risk. Some say NFTs can forge trust. But are they art or artifice? Whichever it is, the future of NFTs could lie within the courts.

Source: Bloomberg via The Business Times

What is a Web3 domain name?

Crypto users are advised to upgrade their Chrome browser.

Why are blockchain bridges getting hacked?

TweetDAO is a new take on decentralized autonomous organizations. One thousand twits paid for the right to tweet from the account. And CoinTelegraph asks if Ethereum is the best blockchain on which to form a DAO. If you’re new to DAOs, brush up with these 5 types of DAOs. I would add a sixth type of DAO: Service DAO.

Staking, not mining, is the future of crypto.

Also published here: https://cryptocracy.substack.com/p/the-negative-effects-of-the-metaverse?s=w