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New industry, new rules: Building the Metaverse without bias

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New industry, new rules: Building the Metaverse without bias

While the COVID-19 pandemic decimated certain industries like tourism and retail, other entirely new industries have emerged. Two years ago, the concept of a “metaverse” was virtually unknown. Today, the term is trending everywhere online, with new companies and funds entering the space every week — billions of dollars have already been poured into this industry. Just last week, Mark Zuckerberg announced that Facebook will become a metaverse company.

Meanwhile, few “metaverse” companies have any real scale or customers, which makes it easy for onlookers to dismiss it as a trend that may flame out. We would caution against that.

The last time we saw a boom like this was in crypto in the mid-2010s. People who jumped on the crypto bandwagon during those early days — think Mike Novogratz, Joseph Lubin, Tyler and Cameron Winklevoss,  and Anthony Pompliano — are now considered to be true experts on the topic. They have also made tremendous fortunes by acting quickly when they first spotted the opportunity.

That’s because new industries can unearth massive opportunities for people who are creative and agile enough to identify new niches and reinvent themselves. They also create opportunities for the underrepresented because traditional hiring requirements for previous related work experience fly out the window when nobody in the world truly has relevant work experience. This brings back the old adage attributed to the Dutch philosopher Desiderius Erasmus of Rotterdam: “In the land of the blind, the one-eyed man is king.” If no one’s an expert, then everyone has the chance to become one.

Related: The metaverse: Mark Zuckerberg’s Brave New World

Time for the Metaverse

Now is the time for the adventurous and ambitious to plant a flag in the parcels of the nascent metaverse industry, as today’s metaverse startups will be some of tomorrow’s Fortune 500 companies. While that might sound a bit far-fetched, consider that Coinbase — now valued at more than $54 billion — was founded in 2012 when 1 Bitcoin (BTC) sold for about $12 and was something hackers messed around with in their dorm rooms.

It is at this point when an industry is taking shape — like primordial ooze — that opportunities are greatest, and not just for economic gain but also for personal brand building. When you join a company at the earliest stages in a new industry, you become not only a company co-founder but also an industry pioneer. Those early employees lay the foundation for the entire industry, shape its trajectory and set the ethos and ground rules. Around the Metaverse, a new generation of leaders will emerge. It’s an exciting time to consider becoming one of them.

Metaverse jobs will span between everything from blockchain and gaming programmers to animators, designers, marketers and even accountants, recruiters and lawyers. Small businesses in the real world could become big businesses in the Metaverse, where business owners are not burdened by the perils of the retail brick and mortar. Amazon stores and Etsy shops can become metaverse goldmines, where customers can interact with products in 3D and transact seamlessly due to the expediency of blockchain technology.

Related: Tales from 2050: A look into a world built on NFTs

Tremendous opportunities for women

Despite all this industry growth, as two women working in the metaverse industry, we often find ourselves to be the only women on male-dominated work calls. Months ago, when we first discussed the new opportunities afforded by these uncharted waters, we had a conversation that played out something like this:

Julia: Do you think the metaverse industry will look different than the crypto industry, with more women in senior roles?

Janine: Well, I have to dig a bit deeper into my career history to make that connection. In my early twenties, when I was working in private equity in New York City, I was recruited for a job in Las Vegas working for a casino gaming company. Back then, Vegas was experiencing a bit of a gold rush of its own, and they were strapped to hire local talent that was sophisticated enough to handle the extreme growth, so they recruited from the coasts. When I visited Las Vegas for interviews, I met with many women in very senior roles — which felt very different from the male-dominated workplaces I knew in New York City.

Julia: What does this have to do with job opportunities for women?

Janine: Booming times create talent droughts, which means that hiring managers have to think creatively about how to fill spots. All of that unconscious (and conscious) bias that often keeps women out of the prime seats is shoved aside in the interest of just filling the job that needs to get done. And the result is that the women who show up during these rare windows of opportunity often find themselves in the right place at the right time. They earn seniority and experience that makes them invaluable. That’s precisely what is happening in the metaverse today.

Put simply, there are enormous opportunities for women in the metaverse industry today. A simple search for the word “metaverse” on LinkedIn jobs pages reveals few jobs anywhere other than Roblox. But at the current rate, there will be thousands of metaverse jobs in the very near future. With our currently low unemployment rates, opportunities will abound.

Scientific evidence suggests that women are more risk-averse than men, which may (among many, many other reasons) explain why women are underrepresented in boardrooms, C-suites and other positions of power. Arguably though, much of this disparity in risk-taking behavior among men and women can be attributed to “nurture” and societal norms that have been fostered rather than “nature.” Risk tolerances and attitudes are not fully immutable, and the Metaverse presents an opportunity to rewrite history and build a more equitable (albeit virtual) society.

Web 3.0 is here, and virtual worlds represent a blank slate — a chance for women, not just men, to get in early and make their mark on the Metaverse. (Notice earlier in this piece we mentioned pioneers who dove into crypto in the mid-2010s, nearly all of them men.) History has a tendency to repeat itself.

But this time, things can be different. Here’s what we know:

  1. It’s still the early days for the Metaverse.
  2. Early days mean high risk.
  3. High risk can mean high reward.

Core to the very idea of the Metaverse is that everyone is an avatar. In the Metaverse, talent trumps any bias, including physical appearances. The Metaverse is opening up an entirely new parallel economy for participants who are willing to immerse themselves in the global communities that are building them. Now is the time for women to take risks and jump in.

This article was co-authored by Janine Yorio and Julia Schwartz.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision. The views, thoughts and opinions expressed here are the authors’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

Janine Yorio is the co-head of Republic Realm, a metaverse/NFT innovation and investment platform. Previously, she was CEO of Compound. Janine holds a BA from Yale University.

Julia Schwartz is the director of Republic Realm, a metaverse/NFT innovation and investment platform. Previously, she managed investor relations at Neuberger Berman Private Equity. Julia holds a BA from Georgetown University.

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BTC, ETH, XRP, ZEN, SNX, WAVES, AVA – Technical Analysis Sept 16

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BTC, ETH, XRP, ZEN, SNX, WAVES, AVA – Technical Analysis Sept 16

Bitcoin (BTC) and Ethereum (ETH) have broken out from descending parallel channels.

XRP (XRP) is trading above the $1.05 horizontal support area.

Horizen (ZEN) is trying to break out above the $108 resistance area.

Synthetix (SNX) has broken out from an ascending triangle.

Waves (WAVES) has moved above the $26.80 resistance area.

Travala.com (AVA) has broken out from a descending resistance line.

BTC

BTC has been moving upwards since Sept 14. On Sept 15, it managed to break out from a descending parallel channel and accelerated. 

The upward move is supported by both the RSI and MACD, which are increasing. The former has even crossed above 50. 

BTC is approaching the 0.618 Fib retracement resistance level at $49,050. However, due to a confluence of Fib levels, it’s possible that it could increase all the way to $50,750.

ETH

On Sept 15, ETH broke out from a descending parallel channel that had been in place since Sept 7. It has been increasing at an accelerated rate since. 

The upward move is supported by both the increasing MACD and RSI readings. 

However, ETH has reached a confluence of Fib resistance levels between $3,625 and $3,635. These levels are the 1:1.61 length of waves A:C and the 0.618 Fib retracement resistance level (white).

XRP

On Aug 13, XRP broke out from the $1.05 horizontal resistance area. It proceeded to reach a high of $1.41 on Sept 6 before dropping sharply the next day. 

Following this, it validated the $1.05 area as support. 

However, even though XRP is trading above the $1.05 support area, indicators are bearish. The MACD and RSI are both decreasing.

ZEN

ZEN has been increasing above an ascending support line since July 16. On Sept 6, it was rejected by the $108 horizontal resistance area and returned to validate the support line once again. 

However, ZEN rebounded and made another breakout attempt on Sept 15. 

Despite the strong bounce, ZEN failed to break out. In addition, both the RSI and MACD have created bearish divergences. 

Therefore, at the current time, we cannot determine if ZEN will be able to move above this resistance.

SNX

SNX began trading inside an ascending triangle on May 21. After several unsuccessful attempts, it managed to break out on Sept 15. 

The breakout is supported by the increasing MACD and RSI values. 

The closest resistance area is found at $23.80.

WAVES

WAVES has been increasing above an ascending support line since July 20. 

On Aug 31, it broke out above the $26.80 resistance area. 

After this, it returned to validate the area as support, also touching the ascending support and Supertrend lines (green icon). It has been moving upwards since. 

The closest resistance area is at the all-time high level near $38. 

AVA

On Aug 14, AVA broke out from a descending resistance line that had been in place since April and reached a high of $5.40 on Sept 6. 

However, it was rejected by the $5.40 resistance area and fell. 

It then found support at $3.50, creating two lower wicks. In addition to this, the RSI has generated a hidden bullish divergence, which is a common sign of trend continuation.

Therefore, AVA could be on its way to revisit the $5.40 resistance area.

For BeInCrypto’s latest Bitcoin (BTC) analysis, click here.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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AMC to Support Ethereum, Litecoin, and Bitcoin Cash Following BTC Adoption

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AMC to Support Ethereum, Litecoin, and Bitcoin Cash Following BTC Adoption

AMC Theatres will accept payments in Ethereum, Litecoin, and Bitcoin Cash by the end of 2021, in addition to bitcoin.

AMC Theatres, the world’s largest theater chain, has announced that it will accept more cryptocurrencies for payment by the end of 2021. The cryptocurrencies that it will support include bitcoin, ethereum, litecoin, and bitcoin cash. This marks yet another notable adoption for the cryptocurrency market, which has had a stellar 2021.

AMC expands crypto payment options

The company’s CEO, Adam Aron, tweeted the news on Sept 16, saying that crypto could be used to pay for online ticket and concession payments by the year’s end. AMC revealed that it would accept bitcoin in August 2021, to much fanfare.

This year has already seen Tesla accept bitcoin as payments for its electric vehicles, though it suspended that later. PayPal has also expanded into cryptocurrencies and is ramping up its support for the market.

The news of AMC Theatres accepting cryptocurrency payments will please investors, as the chain is a notable brand with some clout. The firm has also come to the attention of the public lately for its support from within Reddit’s wallstreetbets community. While the support was not quite as strong as it was for GameStop, those retail investors have helped drive the price of AMC’s stock up.

In short, the acceptance of crypto payments should stir further interest from a community that is already knowledgeable about crypto. Incidentally, GameStop also announced a foray into the blockchain and crypto space when it announced that it was working on a series of NFTs.

Bitcoin and crypto steadily seeing greater adoption

The crypto world has been subject to a lot of good news in terms of adoption this year. The support coming for crypto payments has been varied, with entities in a highly varied set of industries taking the step. The signs have been very optimistic at the retail level.

The travel industry can benefit a great deal from bitcoin payments — and a luxury hotel in Switzerland has gone to facilitate that. Switzerland, which is known for its hub of crypto companies and entrepreneurs, has over 85,000 merchants supporting crypto payments.

Other established companies supporting crypto payments include auction house Lloyd’s. Auction houses have been very interested in blockchain technology, particularly NFTs. Many of them have conducted auctions for NFTs, selling them for many millions.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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El Salvador’s Chivo Bitcoin Wallet Crosses 500,000 Users

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El Salvador’s Chivo Bitcoin Wallet Crosses 500,000 Users

El Salvador’s Chivo bitcoin wallet has already crossed 500,000 users, as revealed by local news reports.

El Salvador’s digital bitcoin wallet Chivo has already hit half a million users, according to reports from local media. The country introduced the wallet on Sept 7.

Users receive $30 in bitcoin when they download the wallet for the first time as an incentive. As of Sept 7, the country had purchased 400 bitcoins for its coffers — which by all accounts is ambivalent in terms of its success.

El Salvador’s bitcoin integration is off to a somewhat rocky start, as there have been several protests against its adoption. Protests have come from both opposition forces and citizens — with the latter marching in the streets and even filing a lawsuit.

The country has used a number of measures to incentivize people to use bitcoin. Foreigners, for example, are exempt from paying capital gains tax on their bitcoin profits. In addition, they receive permanent residency if they decide to move and have an entrepreneurial venture.

https://s32659.pcdn.co/wp-content/uploads/2021/09/El-Salvador.mp4
Source: /u/kiarga

Some El Salvadorians have taken to Reddit to talk about the general sentiment surrounding bitcoin. The country celebrated its Independence Day on Sep. 15, and many protested against the current government in the streets. News broke that vandals destroyed bitcoin ATMs in the country, which is further evidence of displeasure with the new law.

One Redditor spoke about bitcoin further cementing existing inequalities — a concern that was one of the major issues citizens have with the government. They also note that the bitcoins in the Chivo wallet could be seized by the government.

One thing that cannot be denied is the fact that BTC payments do indeed reduce costs for cross-border payments. Other countries in the region are keeping a close eye on the development, which is the first of its kind.

Will more countries follow?

It’s unlikely that a large swathe of countries will follow El Salvador’s lead. Most governments are determined to release their own central bank digital currency (CBDC). Those that have accepted cryptocurrencies as an asset class have done so begrudgingly and are laboring to form a regulatory framework.

The idea of making bitcoin legal tender has been rebutted by China, India, and Russia. With important economies dismissing the asset as having such an important role in the economy, most other countries will likely take the same position.

Having said that, the El Salvador bitcoin experiment could turn up some surprising results. If bitcoin does indeed become the medium for cross-border transactions, then this could encourage more countries to do the same.

Disclaimer

All the information contained on our website is published in good faith and for general information purposes only. Any action the reader takes upon the information found on our website is strictly at their own risk.

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