The Sandbox Is Migrating to Ethereum Sidechain Polygon and Launching A DAO in 2022

The Sandbox Game Is Migrating to Ethereum Sidechain Polygon and Launching A DAO in 2022

Virtual real estate platform, the Sandbox, is planning to move to Polygon, a layer-2 scaling solution for Ethereum, to better cater to its growing audience. Polygon has been seeing an increasing amount of interest from applications and users who are priced out of Ethereum due to its high fees and slow processing.

The Ethereum-based Metaverse play-to-earn (P2E) is migrating to Polygon to minimize transaction fees and network congestion when interacting with the game.

“The metaverse needs to be built by the people,” said The Sandbox co-founder and COO Sebastien Borget in an interview.

“Once they’re building with our tools and they create experiences that will be ready to be open to the public—and we’re live on layer-2 for publishing experiences on their LANDs—I think that will be a great time to start.”

Once the game makes its transition to Polygon, the game will be able to launch more widely to the public.

Polygon’s MATIC token is one of the top performers in 2021, with 14,000% returns.

There is also a plan to launch a DAO (decentralized autonomous organization) in 2022 to give LAND owners the right to vote on changes to be made in the game. Additionally, LAND NFTs will be released throughout next year.

The Sandbox game was developed and released by game studio Pixowl in May 2012 and acquired by Animoca Brands in 2018. In this virtual world, players can build, own, and monetize their gaming experiences using NFTs and its utility token SAND.

Much like MATIC, the $5.34 billion market cap cryptocurrency SAND is also leading the gains and is up 15,700% this year.

The Sandbox virtual world is also made up of LAND, which are the digital pieces of real estate, and players can buy them to further build experiences on top of it.

Celebrities like rapper Snoop Dogg and brands like Adidas, Atari, and The Walking Dead have all acquired LAND in The Sandbox. This has created “network effects” to drive others to join in.

The team is further working on allowing LAND-owning creators to build and share their interactive experiences.

Last month, the company finally opened its Alpha test period after years of being in development to let people play in its metaverse. Those who have purchased an Alpha Pass NFT could access a larger number of games, and earn token rewards, unlike those without a pass that can only try a few samples and that too without any rewards.

Borget said the reaction to the initial Alpha test, which concluded on December 20, was largely positive. The game had tens of thousands of players during the alpha test, and the number of unique LAND owners surged past 17,000.

The Sandbox now plans to launch similar playtesting periods every couple of months next year.

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Author: AnTy

Dogecoin Foundation Working with Ethereum Co-Founder Vitalik for DOGE Staking Proposal

Dogecoin Foundation is working with Vitalik Buterin, the co-founder of Ethereum, on crafting a DOGE proposal for a ‘Community Staking’ version of Proof-of-Stake (PoS) that will allow every coin holder to stake their coins and earn rewards for their contribution to running the network.

Ethereum itself is transitioning from Proof-of-Work (PoW) consensus mechanism to PoS. While Ether holders can already stake their ETH, nearly 8.8 million ETH have been staked so far; they are not yet unstakable as it is yet to be merged with ETH 2.0.

The Dogecoin Foundation announced its trail map on Thursday, in which it noted that the more utility Dogecoin has, the more adoption it will gain “as a serious universal currency for people everywhere.”

It has proposed rapid integration to improve the utility and aims to secure Dogecoin through network diversification. It will present new avenues for payment providers, retailers, social platforms, and game developers to rapidly integrate Dogecoin into their infrastructure with scalable backend solutions such as the GigaWallet Project, the Foundation noted.

A Dogecoin Keyring App & SDK is proposed to let DOGE users retain custody of their coins so that mobile apps can transact Doge without holding your keys.

“These early projects are about laying a solid foundation, while projects still to come will target improving transaction throughput and scale,” it said.

In tandem with the broad crypto market and risk assets, DOGE price went above $0.18 and is up 13.5% this week.

The meme coin is currently down 75% from its all-time high around $0.73 in early May, when DOGE topped during Elon Musk’s SNL appearance, but still up 3,100% YTD.

The Tesla CEO continues to promote Doge and this month called it a much better option as a currency than Bitcoin.

Musk said DOGE is good for everyday payments in an interview with Time Magazine, which came shortly after he was named Time’s 2021 Person of the Year.

“Bitcoin is not a good substitute for transactional currency. Even though it was created as a silly joke, Dogecoin is better suited for transactions. The total transaction flow that you do with Dogecoin, like transactions per day, has a much higher potential than Bitcoin,” Musk said.

Earlier this month, Musk also announced that the electric car maker would accept DOGE for its merchandise which sent the price of DOGE up by about 35% in a matter of a couple of hours.

Back in March of this year, billionaire Mark Cuban’s Dallas Mavericks also started accepting DOGE for tickets and merch through BitPay and reported a 550% increase in DOGE payments in the following month.

Bitcoin, which has a market cap of $969 billion; meanwhile, according to Musk, is more suitable as a store of value, that’s why investors prefer to “HODL” it than using it for payments.

“The transaction volume of Bitcoin is low, and the cost per transaction is high,” he said.

Dogecoin, meanwhile, is not a good store of value due to being “slightly inflationary,” but this “encourages people to spend, rather than sort of hoard as a store of value,” said Musk.

Bitcoin has a fixed supply of 21 million while Dogecoin has an inflation rate of 3.8%, with 5 billion DOGE added to its supply each year, which could encourage people to spend their coins instead of hoarding them.

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Author: AnTy

UNI and MATIC Pump after Uniswap V3 Deployed on the Ethereum Scaling Solution Polygon

UNI and MATIC Pump after Uniswap V3 Deployed on the Ethereum Scaling Solution Polygon

In his proposal, Polygon co-founder Mihailo Bjelic said they would commit up to $20 million to incentivize Uniswap adoption.

Leading decentralized exchange Uniswap V3 has been deployed on the Ethereum scaling system Polygon mainnet.

This comes after UNI holders voted to pass a governance proposal for Uniswap v3’s deployment to Polygon. More than 72 million UNI token holders (98.8%) supported the move.

With this deployment, the idea is to bring Polygon’s low fees to Uniswap as increased usage of Ethereum has made the second-largest network very expensive resulting in the pricing out of small users. But now, Uniswap users can swap tokens using the Polygon blockchain.

Polygon co-founder Mihailo Bjelic submitted the proposal on the Uniswap governance forum last month. In his proposal, Bjelic also said that the project would be willing to commit up to $20 million to incentivize Uniswap adoption; $15 mn will be used for a long-term liquidity mining campaign, and $5 mln will go towards the overall adoption of Uniswap on Polygon.

In response, Polygon’s $2.3 billion market cap cryptocurrency MATIC rallied to hit a new all-time high at $2.70 on Wednesday. As of writing, MATIC is trading at $2.53, down 6.2% from its ATH but up 14042% YTD.

UNI also enjoyed a spike in price to now trade at $17, but much like the broad decentralized finance (DeFi) sector, the governance token is down over 62% from its all-time high earlier this year.

This is despite the fact that Uniswap continues to dominate the DEX space, accounting for about 76% of the market share, as per Dune Analytics.

As for the DeFi space, Uniswap has nearly $9 bln of total value locked in it. This TVL reached $10.5 bln at the beginning of the year. Polygon’s DeFi ecosystem meanwhile has $5.27 bln in TVL, about halved from $10.5 bln high in mid-June.

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Author: AnTy

Loopring Launches L2 Wallet with zKRollup Baked In, Ethereum L2 Developer StarkWare Introduces L3

Loopring Launches L2 Wallet with zKRollup Baked In, Ethereum L2 Developer StarkWare Introduces L3

Loopring also announced direct L2 fiat on-ramps to “onboard the masses” while ZK-rollups focused StarkWare targets applications’ need for specific tailoring with L3.

Ethereum Layer 2 zkRollup protocol, Loopring (LRC), has announced the launch of its L2-exclusive Counterfactual Wallet.

“A major step forward today on our mission to onboard the masses directly onto Ethereum secured Layer 2,” said the team.

Loopring, which is building non-custodial products on top of its Layer 2 that includes Ethereum smart wallet and an AMM DEX, unveiled the iOS version of the wallet on Tuesday, with the Android version coming soon.

According to the Loopring team, this wallet is the first Ethereum wallet with zkRollup scaling baked in. The scaling solution aims to help smaller users who are priced out of Ethereum due to its high gas fees.

Building the wallet on L2 means users don’t have to pay costly creation fees, as they have to on L1.

“One day our goal is to give users a complete L2-only experience, without the need to ever have to withdraw back to L1.”

The Loopring team claims that the Counterfactual Wallet offers 100x cheaper fees while coming with zk-baked in, which ensures the user gets the same security as Ethereum. ETH -0.88% Ethereum / USD ETHUSD $ 3,986.55
-$35.08-0.88%
Volume 13.87 b Change -$35.08 Open $3,986.55 Circulating 118.85 m Market Cap 473.8 b
2 h SEBA Bank Submits A Proposal To Be A Whitelister to Aave Arc 9 h Loopring Launches L2 Wallet with zKRollup Baked In, Ethereum L2 Developer StarkWare Introduces L3 9 h Trump Warns of A Crypto Explosion Bigger Than Big Tech While Appreciating Former First Lady’s NFT Plans

Besides the wallet, the team also announced direct L2 fiat on-ramps, removing a massive barrier to Loopring adoption. Initially, direct deposits on Loopring L2 and Loopring Wallet have been introduced, with withdrawals to come soon too.

In its announcement, the Loopring team urged centralized exchanges to support direct layer 2 deposits and withdrawal as well.

On the back of these developments, Loopring’s native token LRC, a $2.8 billion market cap cryptocurrency, spiked 26% in value. As of writing, LRC is trading around $2.26, down 40% from its all-time high hit just last month.

The same day as Loopring’s announcement, StarkWare, an Ethereum L2 developer using ZK-rollups, introduced L3, the application-specific layer built recursively over L2.

While L2s boost scalability with reduced gas cost per transaction and retain the benefits of decentralization, StarkWare said some applications need specific tailoring, and that’s why it is bringing in L3.

L3 will offer the benefits of hyper-scalability, better control, privacy, cheaper/simpler L2-L3, and L3-L3 interoperability, and acting as a “Canary” network for L2.

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Author: AnTy

ConsenSys Collaborates with Mastercard to Bring Scalability to Ethereum for Private Use

ConsenSys Collaborates with Mastercard to Bring Scalability to Ethereum for Private Use

ConsenSys, the Ethereum software company, has announced the launch of ConsenSys Rollups to help the firm address the challenge of scalable applications on Quorum and provide enterprise-grade scalability to leading financial organizations.

It is in collaboration with Mastercard that ConsenSys has designed its rollups solution.

This new solution is in response to the need for scalability and privacy-enhancing solutions as Ethereum usage reaches new highs amidst the explosion of DeFi, NFTs, gaming, Web 3.0, and the metaverse.

There are currently over 177 Etherum addresses in existence, with tens of thousands being added each day.

Mastercard and ConsenSys are working together to bring scalability to the Ethereum mainnet for private use.

ConsenSys Rollups is for permissioned blockchain applications that will provide scalability and privacy capabilities to any Ethereum Virtual Machine (EVM)-compatible blockchain. The solution is compatible with all tokens that follow the ERC20 standard. Besides Ethereum Mainnet, it can be used on private ConsenSys Quorum networks as well.

This new solution leverages zero-knowledge (ZK) proofs, a technology that enables one party to demonstrate their knowledge to another without sharing the actual information.

ConsenSys says through rollups; it can achieve a throughput of up to 10,000 transactions per second (TPS) compared to just 15 on Ethereum.

ZK rollups will also allow for additional functionalities in the future, with even higher transaction throughputs expected to be possible through reliance on trusted parties for data availability, it said in a statement.

“ConsenSys Rollups enables vastly more scalability in addition to strong privacy protections to both enhance solutions for existing use-cases and enable new use-cases. This innovative solution will help accelerate the building of the future of finance,” said Madeline Murray, Global Lead of Protocol Engineering at ConsenSys.

With its new solution, ConsenSys aims to enable the implementation of new use-cases, including decentralized exchanges (DEXs), micropayments, private transfer and taxes, and central bank digital currencies (CBDCs).

The company says ConsenSys Rollups can remove the next barrier to entry for DeFi and crypto users on new services.

“We believe there is real potential in blockchain technology helping to solve real-world problems,” said Raj Dhamodharan, Executive Vice President of Digital Assets and Blockchain Products and Partnerships at Mastercard.

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Author: AnTy

BBVA Switzerland Adds Ether (ETH) to its Crypto Trading and Custody Service

BBVA Switzerland Adds Ether (ETH) to its Crypto Trading and Custody Service

Besides Bitcoin, Ether sparks “the most interest among investors” and offers the guarantee or regulatory compliance, said CEO Alfonso Gómez.

BBVA’s Switzerland-based franchise is expanding its cryptocurrency custody, and trading service to now include Ether (ETH), announced the bank on Monday.

Last June, the crypto asset service of BBVA Switzerland became operational for all of its customers, and now its private banking clients, along with those with a New Gen account, will be able to manage both Bitcoin (BTC) and Ether (ETH).

These digital assets will also be available on the BBVA apps along with other traditional investments and can be automatically converted to dollars, euros, or any other fiat currency.

“We decided to add ether to our crypto asset ‘wallet’ because, together with bitcoin, they are the protocols that spark the most interest among investors, while also offering all the guarantees to comply with regulation,” said Alfonso Gómez, CEO of BBVA Switzerland.

The bank won’t stop with Ether, though, and will continue to expand its portfolio in the coming months to enable its customers to invest in the “new digital world.”

In its official announcement, BBVA Switzerland also said that its new digital asset custody services have been “very well received” among its new investors and private banking customers.

The greatest demand for crypto comes from those investors who want to diversify their portfolios, and they range from individual customers to institutional investors and family offices.

While the service is currently offered in Switzerland, due to the region having clear regulation and a high level of adoption, the bank plans to expand to new countries but only when the markets have the right conditions in terms of regulation, demand, and maturity.

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Author: AnTy

Ethereum Layer 2 StarkNet Alpha Launches on Mainnet

Amidst this, Ethereum co-founder Vitalik Buterin has been introducing a new improvement proposal, EIP- 4488, to cut the gas fees on layer 2 solutions.

After Optimism and Arbitrum, another Ethereum layer 2 is ready for use.

StarkWare, Ethereum L2 developer using ZK-rollups, has announced the launch of StarkNet Alpha on Ethereum mainnet five months after going live on a public testnet.

A permissionless Rollup, StarkNet offers scalability to Dapps building on the second-largest network without compromising Ethereum’s composability and security.

StarkNet is built on the Cairo programming language and powers all their production-grade applications, which have settled over 50 million transactions and $250 billion since Summer 2020.

Meanwhile, its tailor-made Ethereum scaling solution, StarEx, is used by several known projects such as dYdX, Immutable, and Sorare.

StarkNet Alpha also enables general computation smart contracts that support composability, both with other StarkNet contracts and via L1<>L2 messaging with L1 contracts. It also operates in a Rollup mode, meaning all the state diff data is sent on-chain.

Users are advised to use it cautiously as StarkNet Alpha is yet to be audited, and the project may also “delay” the audit until the network matures.

While starting with no transaction fees, StarkNet Alpha will introduce a fee mechanism in its next upgrade, which is a few weeks away.

About two weeks back, Israel-based StarkWare, the developer behind StarkNet, raised $60 million in a Series C funding round that puts its valuation at $2 billion. This new funding came after it raised $75 million in Series B round this year in March.

The latest funding round was led by Sequoia Capital, with participation from existing investors, including Alameda Research, Paradigm, Three Arrows Capital, and Founders Fund. StarkWare will use the fresh funding to grow its team and ecosystem.

Last week, Ethereum co-founder Vitalik Buterin and Ether developer Ansgar Dietrichs authored a new improvement proposal, EIP- 4488, to cut the gas fees on layer 2 solutions.

This is to be achieved by decreasing transaction calldata cost, a primary mechanism for Optimistic Rollups and ZK-Rollups, and by adding a ceiling for total transaction calldata in a block.

While sharding is a long-term solution to scale Ethereum, this proposal is a short-term solution that can reduce gas fees, possibly before the end of this year.

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Author: AnTy

Investment Firm Launches Another Attempt at Ether Futures ETF With Kelly Ethereum Ether Strategy ETF

Investment Firm Launches Another Attempt at Ether Futures ETF With Kelly Ethereum Ether Strategy ETF

Kelly Strategic Management has filed for an Ether Futures exchange-traded fund (ETF) with the US Securities and Exchange Commission (SEC).

The Kelly Ethereum Ether Strategy ETF is an actively managed fund that will invest in cash-settled Ether futures contracts traded on CME, as per the filing.

In February of this year, CME launched Ether futures, and it limits these futures contracts to 8,000 contracts for an applicable month, with each contract representing 50 ETH.

CME will also be rolling out micro Ether futures that will be one-tenth of one Ether on Dec. 6. Micro Ether futures would provide an efficient, cost-effective way for individual and institutional investors to hedge their price risk as liquidity in Ether futures contracts grows steadily among institutional traders, said CME at the time.

The second-largest cryptocurrency is enjoying an uptrend today as it surpassed $4,740, up 520% YTD, only to follow Bitcoin and drop back to $4,585 as of writing.

This move from the Denver-based firm comes about three months after VanEck and ProShares pulled their similar filings following several Bitcoin Futures ETF applications. It was speculated at the time that the SEC pushed back on Ether futures ETF.

Last month, two Bitcoin futures-based ETFs from ProShares and Valkyrie went public after SEC chair Gary Gensler said futures contracts provide sufficient and better investor protection than spot Bitcoin.

Thanks to the first-move advantage, ProShares Bitcoin Strategy ETF (BITO) is holding $1.4 billion in assets under management.

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Author: AnTy

“Ethereum Is The Clear Winner,” says ConsenSys CEO as MetaMask Users Grow 38x in Last Year

“Ethereum Is The Clear Winner,” says ConsenSys CEO as MetaMask Users Grow 38x in Last Year

The Ethereum backer also raised $200 million at a $3.2 billion valuation from investors, including hedge fund Third Point and Europe’s largest bank HSBC.

Blockchain technology firm ConsenSys raised $200 million in a fresh fundraising round that gave it a valuation of $3.2 billion. The new capital was from investors, including hedge fund Third Point and HSBC.

Just earlier this year, HSBC, Europe’s largest bank, said that it had no plans to launch a crypto trading desk or offer the asset to customers, and now it is investing in the companies that are building the infrastructure of the crypto ecosystem.

Just six months ago, ConsenSys also raised $65 million from Mastercard and another banking giant, JPMorgan.

New York-based ConsenSys was founded by CEO Joe Lubin, who also co-founded the second largest cryptocurrency Ethereum.

Popular Ethereum wallet MetaMask is one of ConsenSys’s main products, which announced on Wednesday that its monthly active users have now reached 21 million, an increase of 38x from last year.

“ConsenSys’ MetaMask wallet and other tools offer a unique platform for consumers, enterprises, and developers to engage, build, and create on the decentralized web,” said Third Point CEO Daniel Loeb.

The Ethereum backer that holds a treasury of ETH and other cryptocurrencies said it raised outside funds to facilitate “hyper-growth” and potential acquisitions.

The fresh capital will also be used to make 400 new hires. “There’s a war for talent going on,” ConsenSys Chief Strategy Officer Simon Morris said in an interview, “and we are going to make sure that we can grow our team, acquire some teams, acqui-hire some teams,” to stay competitive on the Ethereum front.

This year, several layer 1 blockchains such as Solana, Polkadot, Cosmos, Avalanche, Fantom, Polygon, BSC, and others have grown their ecosystem and emerged as a strong competitor to Ethereum, but CEO Lubin isn’t really concerned.

SOL -10.11% Solana / USD SOLUSD $ 196.99
-$19.92-10.11%
Volume 3.91 b Change -$19.92 Open $196.99 Circulating 303.51 m Market Cap 59.79 b
7 h “Ethereum Is The Clear Winner,” says ConsenSys CEO as MetaMask Users Grow 38x in Last Year 1 d Brave’s Self-custody Built-in Crypto Wallet to Give 42 Million Users Access to DApps for EMV-compatible Chains 2 d Paradigm Launches Largest New Venture Capital Crypto Fund, Valkyrie and Coinbase Target DeFi
DOT -7.92% Polkadot / USD DOTUSD $ 39.33
-$3.11-7.92%
Volume 2.18 b Change -$3.11 Open $39.33 Circulating 987.58 m Market Cap 38.84 b
7 h “Ethereum Is The Clear Winner,” says ConsenSys CEO as MetaMask Users Grow 38x in Last Year 2 d 13 Consecutive Week of Inflows Send Bitcoin AUM to A Record $56B and Ether’s Past $21B For The First Time 1 w Sharp Pick Up in Demand: BTC Price Aims for $69k as Inflows into Bitcoin Hit A New Record of $8.9 Billion
ATOM -8.88% Cosmos / USD ATOMUSD $ 26.87
-$2.39-8.88%
Volume 536.68 m Change -$2.39 Open $26.87 Circulating 224.78 m Market Cap 6.04 b
7 h “Ethereum Is The Clear Winner,” says ConsenSys CEO as MetaMask Users Grow 38x in Last Year 4 w Cosmos Unveils New Blockchain, Sagan, A Canary Network to Allow Developers to Run Tests And Experiments 1 mon Over 160 Projects Are Launching on Terra by Early Next Year to ‘Amplify Demand for UST’ and Send it to $10 Bln, says Founder
AVAX -4.32% Avalanche / USD AVAXUSD $ 102.23
-$4.42-4.32%
Volume 1.95 b Change -$4.42 Open $102.23 Circulating 220.29 m Market Cap 22.52 b
7 h “Ethereum Is The Clear Winner,” says ConsenSys CEO as MetaMask Users Grow 38x in Last Year 1 d Brave’s Self-custody Built-in Crypto Wallet to Give 42 Million Users Access to DApps for EMV-compatible Chains 2 d Paradigm Launches Largest New Venture Capital Crypto Fund, Valkyrie and Coinbase Target DeFi
FTM -12.88% Fantom / USD FTMUSD $ 1.87
-$0.24-12.88%
Volume 943.84 m Change -$0.24 Open $1.87 Circulating 2.55 b Market Cap 4.76 b
7 h “Ethereum Is The Clear Winner,” says ConsenSys CEO as MetaMask Users Grow 38x in Last Year 2 d Paradigm Launches Largest New Venture Capital Crypto Fund, Valkyrie and Coinbase Target DeFi 5 d DeFi Still In The Early Stages With A Lot Of Potential But Faces Regulatory Hurdles: JPMorgan Report
MATIC -8.12% Polygon / USD MATICUSD $ 1.50
-$0.12-8.12%
Volume 1.04 b Change -$0.12 Open $1.50 Circulating 6.94 b Market Cap 10.44 b
7 h “Ethereum Is The Clear Winner,” says ConsenSys CEO as MetaMask Users Grow 38x in Last Year 1 d Brave’s Self-custody Built-in Crypto Wallet to Give 42 Million Users Access to DApps for EMV-compatible Chains 2 d Paradigm Launches Largest New Venture Capital Crypto Fund, Valkyrie and Coinbase Target DeFi

“Solana is a wonderful technology,” which will be “important as our ecosystem evolves,” said Lubin in his interview with Bloomberg. But he noted that these platforms like to think of themselves as layer one, but actually, they are “competing with Layer 2 protocols on Ethereum.”

“Ethereum has chosen to focus on decentralization, and that’s where you get trust foundation,” while other layer 1s focus on execution rather than security or data availability. “Ethereum is the clear winner in terms of security, decentralization, and trust,” he added.

Talking about ConsenSys’ participation in the development of Web 3, CEO Lubin said, they “operate a flywheel where we build a bunch of developer tooling that enables us and our community to build applications on an open-source decentralized global super app” and then in MeatMask they provide the user interface to that super app.

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Author: AnTy

TIME to Add Ether to its Balance Sheet as part of Metaverse Partnership with Galaxy Digital

TIME to Add Ether to its Balance Sheet as part of Metaverse Partnership with Galaxy Digital

TIME has partnered with digital asset manager Galaxy Digital to launch the newly created TIME100 Companies Metaverse category, covering those building a virtual future.

For the first time, TIME will also hold ETH on its balance sheet as part of this partnership. Trading at $4,170, ETH is up 475% so far this year.

Galaxy Digital will pay for this deal in Ether, which as per the announcement, marks the first time a major media organization has accepted ETH as payment.

Earlier this year, TIME first announced that it has started accepting BTC as a form of payment for its digital subscriptions to further expand in the crypto space. In March, TIME sold three of its covers as NFTs at auction.

Now, it is taking up the metaverse in partnership with Mike Novogratz’s Galaxy, under which a new weekly TIME newsletter, ‘Into the Metaverse,’ will be published to “demystify the tremendous amount of transformation happening” into this virtual world.

“Over the next decade, the metaverse will become an increasingly important part of the world economy; our physical and digital realities are already becoming hard to distinguish,” said Novogratz, CEO, and founder of Galaxy Digital.

TIME will also host additional educational resources on the topic via its new Learning page, slated to launch in December.

“Before we can build the metaverse, we need to define it, since, today, the word connotes vastly different things to different people,” said Sam Englebardt, general partner of Galaxy Interactive, an offering of Galaxy Digital.

“So, with our partners at TIME, our first objective is to create a shared lexicon and understanding of the idea and the opportunities that are emerging as we become an increasingly digital species and continue (and accelerate) our ongoing journey from the physical to the virtual world.”

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Author: AnTy