Cryptoassets in the metaverse could cause systemic risk – BofE

Cryptoassets in the metaverse could cause systemic risk – BofE

If an open and decentralised metaverse grows, the risks from cryptoassets may scale to have systemic financial stability consequences, say a pair of Bank of England wonks.

The risk of an FTX crypto contagion

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The Sandbox: What Qualifies a True Metaverse?

The metaverse can look a lot like online video games. But what Sebastien Borget, COO and co-founder of The Sandbox, is trying to create is a parallel universe. Blockchain gaming manifests in various ways. Some developers simply utilize blockchain technology to mint in-game NFTs, while others are going so far as to grant DAOs governance over the game’s rules. It’s about giving users dominion over the virtual world they occupy. Interoperability – as in the ability for avatars, items, and currency to be transferred from one world to another – is key. According to Borget, the essence of the metaverse can’t be captured in a simple rebranding campaign. Interviewed by Ash Bennington on January 20, 2022.

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Check out the full interview here!:
The Sandbox: How to Distinguish the Metaverse from Gaming
The Interview – Crypto | Ash Bennington & Sebastien Borget

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Getting a piece of land in the metaverse was a huge trend in the beginning of 2022. Rappers and other celebrities were buying their plots. But since then the hype is died down almost all the way and the metaverse is suffering.

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