Financial expert, Managing director of research at Bank of America, Haim Israel, assumes metaverse will boost the adoption of blockchain technology and increase the number of crypto transactions.
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In one of his recent interviews, Israel mentioned the possibilities virtual-world platforms hold for crypto. He finds that the popularity of metaverse will be the starting point for cryptocurrencies to be massively used as currencies.
Talking about challenges, the expert pointed out the volatile nature of crypto. In his opinion, stablecoins will lead the metaverse transactions.
Metaverse and blockchain are among the top technology trends currently. Virtual environments represent everything digitally, allowing users to interact with each other on a network. As crypto is basically decentralized, digital money, it has a huge potential in the metaverse.
Interest in the virtual world has grown essentially after Facebook rebranded to Meta. Recently, many native cryptocurrencies of blockchain-based play-to-earn platforms set new records. Among them are Decentraland (MANA) and The Sandbox (SAND). Recently, the most expensive purchase of virtual land took place, with the metaverse real estate ecosystem investor Republic Realm buying a land in The Sandbox for $4.3 million.