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Cardano Founder Says Metaverse Is Important For Crypto

Best Owie
Best Owie
3 years ago
3 mins read
Picture of Cardano founder Charles Hoskinson who recently shared thoughts on the metaverse

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Cardano founder Charles Hoskinson has shared his thoughts on a growing industry, which is the metaverse. The metaverse has been around for a while and has been steadily gaining popularity, especially among gamers. Its cross with the cryptoverse seemed inevitable and this proved to be true when metaverse projects with crypto built into them began to debut in the space.

The announcement of Facebook’s name change has also boosted the space. When the social media giant announced that it was changing its name to Meta, in anticipation of its upcoming metaverse launch, the space seems to have exploded. Metaverse-related tokens like MANA and SAND had surged astronomically.

Related Reading | Cardano Founder Addresses Price Speculations As ADA Struggles

In light of this newfound popularity, discussions are being had all across the crypto space about the future of the metaverse in relation to cryptocurrencies and it seems Hoskinson has high hopes.

Metaverse Will Be ‘Humongous’

Mathematician Charles Hoskinson was on the Thinking Crypto podcast on Tuesday to talk about the future of the crypto space. The founder is a well-respected voice in the crypto community and host Tony Edwards took advantage of the opportunity to get his thoughts on some important topics. One of those topics was the metaverse.

Hoskinson expressed bullish sentiment for the metaverse. For one, the visionary founder of Cardano expressed that the metaverse is actually a real thing. This would seem to be addressing comments around things like virtual reality that have been said to not be real. Although it is expected that as time goes on, more tech will be introduced that will enable a more “real” experience.

“Metaverses are really cool; they’re a real thing, it’s not a gimmick. You need crypto to basically put a trust model into it and scarcity model into it as you kind of physicalize the digital and digitalize the physical, and it’s going to become in the next five-ten years, I think a humongous product category for cryptocurrencies.”

Bridging The Virtual And The Physical

As mentioned above, it is expected that with time, development in the metaverse will make it feel like the physical world. Hoskinson shared the same thought on the podcast, where he said that advances in AI, interfaces and semantics imply that Web 3.0 is a vertical layer with the metaverse above it.

Related Reading | Real Vision CEO Raoul Pal Takes Bullish Stand On Ethereum

“You can either overlay onto the physical world digital attributes like when you look at a building like a restaurant it shows you on your AR glasses what time does it open what time does it close or you can go completely into the digital world and actually have a virtual reality experience,” said Hoskinson.

The founder added that crypto is important to the space because a control layer is needed for metaverses. This way, things like scarcity uniqueness can be forces in the metaverse, and “that’s where NFTs come into play, these types of things.”

Featured image from CryptoGazette, chart from TradingView.com
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Best Owie
Best Owie

Best Owie

Best Owie is a seasoned managing editor with a wealth of experience currently serving as the Managing Editor at NewsBTC. Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality.

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Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best’s publications, which are always clear and concise, enabling easy reading and understanding for all.

Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best’s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community.

Best’s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information.

Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity.

When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world’s most quiet and well-behaved Husky. Best’s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well.

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