The metaverse will become the # 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 US developers believe the metaverse will be the most popular place to trade, buy or store cryptocurrencies, such as Bitcoin or Ether.

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Agora, an interactive streaming video calling platform, has just released the results ofa vast investigation devoted to the metaverse. As part of this study, Agora teams surveyed 300 US-based developers. The investigation aimed at “Read more about what they thought about the metaverse and what we will 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, for years to come. Note that 18% of respondents disagree with this statement and 25% have no opinions.

55% of developers think Facebook will take control of the metaverse

According to the developers, the metaverse is on its way 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 for the development of the metaverse.

70% of the interviewees assure it “Advances in cryptocurrency and blockchain technology will be key to shaping the future of the metaverse”. Only 9% of the developers disagreed. Among the leading technologies of the metaverse are non-fungible tokens (NFTs). 53% of developers believe that digital works certified on blockchain will be even more important in the digital worlds of the future.

To democratize, the metaverse will have to do it facing a variety of obstacles. According to the developers interviewed by Agora, respecting privacy is one of the great challenges of metaverses. “33% of respondents think privacy and data security are the biggest obstacles the metaverse must overcome”, says the study. By mirroring current networks, future platforms will need to put safeguards in place to protect internet users and their personal data.

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

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

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