Tech

The metaverse will become the number 1 way to buy cryptocurrencies

The metaverse will become “the place to be”. for investors in the cryptocurrency industry. According to a survey, more than half of American developers believe that the metaverse will be the most popular place to exchange, buy or store crypto-assets, such as Bitcoin or Ether.

metaverse vr
Credits: Pexels

Agora, an interactive streaming video calling platform, has just released the results ofa vast investigation dedicated to the metaverse. As part of this study, Agora teams interviewed 300 developers based in the United States. The survey aimed to “read more about what they thought of the metaverse and what we’ll see in the years to come”.

57% of developers surveyed believe that the metaverse, these digital worlds accessible through virtual reality or augmented reality, will become “the most popular place to buy, store and trade cryptocurrencies”, like Bitcoin, in the years to come. Note that 18% of respondents do not agree with this assertion and that 25% have no opinion.

55% of developers think Facebook will take over the metaverse

According to the developers, the metaverse is on the way to replacing many cryptocurrency ecosystem services, such as exchanges (decentralized or centralized) or digital wallets. Unsurprisingly, most developers are convinced that cryptocurrencies, and blockchain technology, are essential to the development of the metaverse.

70% of respondents ensure that “advances in cryptocurrency and blockchain technology will be critical in shaping the future of the metaverse”. Only 9% of developers disagreed. Among the flagship technologies of the metaverse are non-fungible tokens (NFTs). 53% of developers believe that digital works certified on the blockchain will be even more important in the digital worlds of the future.

To democratize, the metaverse will have to face a series of obstacles. According to the developers interviewed by Agora, respect for privacy is one of the great challenges of metaverses. “33% of respondents think privacy and data security are the biggest hurdles the metaverse has to overcome”, says the study. Mirroring current networks, future platforms will have to put in place safeguards aimed at protecting Internet users and their personal data.

Read also: Cannes launches into the metaverse and will sell its heritage in the form of NFT

As expected, 55% of developers believe that Meta (ex-Facebook) will establish itself as the main owner of metaverses. Mark Zuckerberg’s company revealed its interest in digital universes last year at a conference. Under the impetus of its founder, Meta makes every effort to accelerate the development of universes accessible in augmented or virtual reality.

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