Experts explained how the rebranding of the corporation will affect the quotes of digital assets, and which of them will benefit more than others
On October 28, Facebook Inc., which owns the social network of the same name, as well as services Instagram, WhatsApp, and others, announced its name change to Meta. This is necessary for users to perceive the corporation as a developer of the metaverse. According to the forecast of the founder of the company, Mark Zuckerberg, product development will take 5-10 years. The project is expected to support NFT non-fungible token technology.
Facebook's announcement of the creation of the metaverse and its video presentation in general will have a positive effect on cryptocurrency rates, says Roman Nekrasov, co-founder of the ENCRY Foundation. According to him, such a metaverse requires the integration of certain digital financial instruments that facilitate the economic interaction of people from different parts of the planet.
The fact that the metaverse will deal with cryptocurrencies was confirmed by Mark Zuckerberg himself in a letter to investors, where he said that the platform should support cryptocurrencies and NFTs. But the end of that proposal deserves special interest – it says about some other form of management, the expert added. This refers to more than just cryptocurrencies, microtransactions in conditional bitcoins, or NFT tokens for basketball cards. This refers us to a variety of blockchain platforms that provide for both the creation of smart contracts and the creation of DAOs – decentralized autonomous organizations, Nekrasov is sure.
“Based on this, I will assume that the platforms that are focused on decentralized governance, decentralized finance and smart contracts – Ethereum, Solana, Cardano, will receive a serious impetus to growth. I would look in this direction, ”the specialist shared.
The fact that the metaverse will indirectly lead to an increase in the use of Ethereum and Solana was also stated by the CEO of Xena Financial Systems Anton Kravchenko. He called Solana the best alternative to Ethereum and warned that this will only be relevant if Meta does not launch and develop its own blockchain.