Sunday, May 19, 2024

“Metaverse will not be a turning point for crypto” – investor Chesnais

The CEO of Crypto Blockchain Industries, a French fintech company, believes that the rise of the metaverse will not necessarily be a game-changer for the crypto world. Frédéric Chesnais, who is also a big-time investor, said that the growth of these online virtual worlds would definitely promote the adoption of crypto among the masses, but it will not be the sole reason for crypto to become mainstream.

Metaverses are 3-D virtual worlds based around blockchain technology. Here, users can buy, sell, and trade in virtual services and assets using cryptocurrencies. The many advantages of these platforms, along with the burgeoning excitement among fans, will definitely drive people to invest more in digital tokens. People have showcased more interest in metaverses in the past couple of months, thanks to the announcement made by Facebook in October. The company declared that it would be changing its name to Meta, and efforts to build a top-tier virtual world are well underway. Upon this announcement, several other fintechs have shifted their focus on building metaverses in order to stay ahead in the ever-advancing world of cryptocurrencies.

Chesnais’ company – Crypto Blockchain Industries – is also developing their own blockchain-based virtual world called AlphaVerse. Yet, the investor and CEO believes that true mainstream adoption of cryptocurrencies will happen only when the one-billion-plus people worldwide, who don’t have access to bank accounts, get acquainted with cryptocurrencies. These people, who usually do not have an official identity or an address to provide to banks, will finally get a chance to be a part of the economic system when they have their own digital wallets

Cryptured Team
Cryptured Team
The writers team at Cryptured.com is composed of passionate and experienced journalists who cover the latest developments in the crypto and blockchain space. They aim to provide accurate, unbiased and easy-to-understand news and information for their readers, as well as insights and analysis from industry experts. The writers team is always on the lookout for new and exciting stories that can help the general public learn more about the potential and challenges of these technologies.
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