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The Pros And Cons of Metaverse For Small Businesses

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VOC, Voice of Crypto, Metaverse

Since its advent, the metaverse has been one of the biggest buzzwords in the blockchain and crypto industry. Even in its early stages, the concept fetches the interest of several investors and business organizations worldwide.

The metaverse promises to offer its users a much more immersive, interactive, and collaborative environment than the internet has offered up until now. 

The metaverse is undoubtedly a leap forward in the development of internet technology. This potential of a virtual world similar to the real world and without any physical limitations in transactions and communications has led big players like Meta (Facebook) to make big investments in the budding space. In this article, we have brought to you the good and the bad of the metaverse universe.

Small Businesses And The Metaverse

Often this ecosystem is misunderstood as a platform for the global conglomerates to put their pro-tech bent on display, a perplexing product designed for selected strata of society who can showcase their NFTs or a new sector in the development of the gaming industry.

Contrary to this belief, Metaverse offers everyone a whole new world filled with numerous opportunities for consumers and business organizations. However, this set of opportunities comes with certain risks. 

There’s no denying that at the moment, the ecosystem is populated with business giants. For this platform to be accepted and adopted worldwide, it is essential that small businesses make transitions.

Let’s take a look at the previous patterns in the history of the adoption of new technologies. We can see how small businesses play a huge role in developing acceptance of the technology on the mass level. 

According to critical insights offered by Facebook’s Connect, 2021, there is no doubt that the era of the metaverse is forthcoming. However, the timeline required for the mass worldwide to widely adopt the metaverse technology is spread out at least over a decade. The policy leaders firmly believe that by 2040, the metaverse would have already emerged as a functional aspect of daily life for more than half a billion people across the globe. 

Even though it is not essential to have an immediate transition to pro-metaverse life, businesses are now considering the plausible scenarios with this tech in hand. If a firm strategically invests in the Metaverse ecosystem today, it would be able to build an improved experience for its customers in the future. 

How The Metaverse Is Reshaping Industries

With the advent and increasing adoption of this system by several players in the business field, the metaverse is on its way to reshaping the working and scope of several industries. Regarding adopting cutting-edge tech, the gaming industry has always been a pioneer. In the case of the Metaverse, the situation is no different. 

Several gamers are already convinced that the Metaverse can be the next frontier in the gaming world. According to developers, the gaming zone at present can often make the players feel. Even though the concept of multiplayer gaming solves the problem significantly, the inclusion of the meta world will take immersion and community to a whole new extent. The Metaverse project can create communities like Decentraland, Sandbox, Axie Infinity, etc., giving users social and monetary gains. 

Despite the immense potential, only the more prominent firms now dominate the Metaverse gaming space. Small businesses don’t have such a high budget for the research and development of a metaverse game.

Another sector that the metaverse can have a significant impact on is the fashion industry. Some major fashion brands have already started including metaverse-based fashion projects. They have already gotten on board with a successful Metaverse Fashion Week that included runway shows, after-parties, immersive experiences, shopping, panel talks, etc. 

Risks For Small Businesses

While the Metaverse brings immense opportunities and potential for growth and development to a whole new height, it is not free from risks and threats. Small businesses can be more exposed to the risks associated with this virtual ecosystem.

The metaverse ecosystem is yet in its initial stage and is taking shape. Thus, this universe’s uncertain and commencing stage could disrupt the roadmap of small industries, leading them astray. 

Jake Fraser is the head of business development at Mogul Productions. In an interview, he said:

“Technical expertise and knowing how to structure environments for users virtually is a fluid space and requires people to have their finger on the pulse to execute the best user experience. There also needs to be value for the user and something unique that they can’t get from your brand in another place. If there is no clear ‘hook,’ it can be difficult to drive adoption from businesses.”

Final Say

However, we can see that the relevant companies that ventured into this growing industry have gained a lot from the future’s perspective. This platform helps these industries to prepare for the future trend of virtual reality. To add to it, their present offerings also get an edge. If we look at the net outcome, the benefits of adopting the Metaverse have far more profits than the risks.

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Samvida is a versatile writer/editor passionate about reaching out to people of different precincts by using words as an effective means. She’s a law graduate residing in Bihar, India. She holds a curious persona, often delving into worlds of astrophysics, technology, crypto, law, and international relations.

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Polkadot Price Pumps On Tether News, Breakout Looking Likely

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VOC, Voice of Crypto, Polkadot, DOT

Polkadot is one of the latest cryptocurrencies on the news, following news of their recent ties with the Tether network, providing stable and easy in-and-out access for users of the Polkadot network.

Price Action On Polkadot

Over the past few weeks, DOT has broken down below the $7 mark and is currently retesting the $6.4 resistance. So far from a medium-term perspective, it has made a new lower low, looking likely for a downtrend continuation to occur. The MACD line is currently testing the RSI signal line, making it hard to guess where the market may be headed

However, the RSI on the 4-hour timeframe shows a value of 52, indicating neutral conditions from a medium-term perspective, and a likelihood for the market to move in either direction.

Chart of polkadot USDT showing RSI conditions and medium-term price action 

Chart of DOT/USDT showing RSI conditions and medium-term price action | Source: Tradingview

Tether, Recent News, And Effect On Polkadot Price Action

On the 23rd of September, Tether announced its launch on the Polkadot network, allowing the new option of minting some Tether on the Polkadot network.

Polkadot has been under the microscope in terms of growth and evolution, according to the CTO of Tether, Paolo Ardoino. Ardoino also believes that this new development of adding Tether to the Polkadot network is a great way of achieving that.

Following Tether’s announcement, there was noticeable price movement on the charts of DOT, the native cryptocurrency of the Polkadot network.

Chart of polkaDOT /USDT showing price movement right after Tether’s announcement

Chart of DOT/USDT showing price movement right after Tether’s announcement | Source: Tradingview

The price action of DOT was unable to maintain this bullish momentum. After hitting a high of $6.63, prices fell right back to the $6.19 support.

Where To Next?

The price action on the daily timeframe shows that DOT has been in a bullish wedge since May 2022, and is likely to break out and trend massively upwards anytime soon.

Chart on DOT/USDT showing bullish wedge

Chart on DOT/USDT showing bullish wedge | Source: Tradingview

Conversely, while the daily timeframe shows likely bullish momentum on Polkadot’s price soon, the indicators do not.

The daily RSI has indeed fallen below the 50 mark and is now at a value of 39.98. While some would argue that this is a bullish signal as well, the rest of the crypto market isn’t so sure.

Chart of DOT/USDT showing RSI indicator, but no bullish confirmation yet

Chart of DOT/USDT showing RSI indicator, but no bullish confirmation yet | Source: Tradingview

So far, there has been no bullish divergence between the signal line and the MACD line, suggesting that it might be risky to blindly enter a market long.

It is important to note that while a breakout seems likely, the price of DOT is currently testing resistance around the $6.4 level, and could still trade lower. This makes trading risky until we see a market confirmation.

Disclaimer: The author’s comments and recommendations are solely for educational and informative purposes. They do not represent any financial or investment advice. Always DYOR  (do your own research). 

Jim Haastrup Author
Crypto Writer

Jim Haastrup is a freelance blockchain and metaverse writer. He helps founders, investors, startups, crypto, and blockchain enthusiasts connect with their audience and win investment through the written word.

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Terra LUNC Price Tanks 20% As Interpol Issues Red Notice For LUNA Founder Do Kwon

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VOC, Voice of Crypto, Terra, LUNA

Things went downhill for the Terra ecosystem right after the crash in May 2022, when the price of LUNA (the first Terra crypto) crashed by 99.9% from about $120 to $0.02 in under 24 hours. The Terra ecosystem lost billions of dollars, leaving many devastated.

The Terra ecosystem bounced back with the launch of LUNC or the Terra 2.0. A way to repay LUNA’s former holders.

LUNC did well on launch, minimizing the effect of the original Terra crypto crash. However, the cryptocurrency has been in a correction from its all-time highs and many have expressed optimism for its future, until 24 hours ago.

Terra LUNC Price Analysis

Over the last three trading seasons, the price of LUNC (Terra 2.0) has been in a bearish trend. This is understandable since the entire crypto market has been in winter since November 2021.

It is also worth noting that LUNC had a wonderful time in early September, reaching as high as $0.00062 before starting its descent to where it now sits.

So far, the price movement of LUNC to the downside has been reasonable compared to the entire market. Over the last week, the cryptocurrency’s price fell under the 50 and 20-period exponential moving averages right after the FED-rate hike, falling 7.25% and hitting a low of $0.000219.

Chart of Terra LUNC showing original dip after FED rate hike (green arrow) 

Chart of Terra LUNC showing original dip after FED rate hike (green arrow) | Source: Tradingview

While most other cryptocurrencies immediately picked up steam and began to trend upwards again, LUNC only trended upwards to the $0.000267 level and then fell by roughly 19% over the last few days. This came after the disturbing news of the issuance of a red notice by Interpol, for the arrest of the embattled Terra founder Do Kwon.

Chart of LUNC/USDT, showing a 19% decline over the last few days

Chart of LUNC/USDT, showing a 19% decline over the last few days | Source: Tradingview

Do Kwon’s Arrest And Effect On LUNC’s Price

This recent price drop came exactly at the same time after the International Criminal Police Organization (Interpol) issued a red notice for Terra founder, Do Kwon.

For context, a red notice is a worldwide arrest warrant issued to locate and potentially detain its subject.

A South Korean court issued an arrest warrant for Do Kown and several others, under allegations of misconduct and violations of the capital-market laws.

Soon after, Do Kwon’s whereabouts became a hot topic after Singapore reported that he was no longer in the country.

However, Do Kwon stated shortly after in a tweet, that he wasn’t on the run, and had nothing to hide.

Do Kwon is known for his abrasive attitude, adding to the fact that he has not tweeted anything since the last one denying that he was on the run. Recent events in general have shown that otherwise is true and that he is obviously on the run.

Disclaimer: The author’s comments and recommendations are solely for educational and informative purposes. They do not represent any financial or investment advice. Always DYOR  (do your own research)

 

 

 

Jim Haastrup Author
Crypto Writer

Jim Haastrup is a freelance blockchain and metaverse writer. He helps founders, investors, startups, crypto, and blockchain enthusiasts connect with their audience and win investment through the written word.

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Technical Analysis: Bitcoin (BTC) and Ethereum (ETH)

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VOC, Voice of Crypto, BTC, ETH, MATIC, TRON

September has been especially eventful for Bitcoin, Ethereum, and by extension, the entire crypto market.

However, most of the interesting events happened in the latter half of September, from the long-awaited Ethereum merge to the FED rate updates, to the Vasil upgrade on the Cardano network just yesterday Thursday.

The overall crypto market has been on a bearish trend for the better part of 2022, and September was no different. Ethereum for example, currently trades at around $1300, despite being close to the $1700 mark before the merge.

The recent fall of the general crypto market, however, came right after the FED rate hike this week. The price of bitcoin, for example, fluctuated around the $19,600 mark, before falling to a low of about $18,200 right after the news of the FED rate hike hit the market

Bitcoin Technical Analysis

Bitcoin was arguably one of the worst-hit cryptocurrencies on the market after the FED rate increase. It fell to new lows around the $18,000 mark right after the US Federal Reserve meetings, dragging most other cryptocurrencies down with it.

The FED chose to increase the interest rates by a whole 75 basis points on Wednesday, marking the third increase in a row in 2022 alone, and the highest the interest rates have been since 1980.

The chairman of the FED, Jerome Powell also hinted that this FED rate increase was likely to continue until the inflation rate returns to its lows of around 2%.

As a result of this, the price of bitcoin slumped and fell to an intra-day low of $18,290. its lowest in three months.

Chart of BITCOIN USD, showing price bounce from the $18,200 leve

Chart of BTCUSD, showing price bounce from the $18,200 level | Source: Tradingview

Looking at the chart, we can see that bitcoin bulls took control soon after, sending the price back to where it now sits around the $19,600 level.

At the time of writing, the price of bitcoin is at $18,863 and is currently showing slightly bullish conditions on the RSI of the 4-hour timeframe.

Ethereum Price Analysis

Unlike bitcoin, Ethereum’s price didn’t suffer as much after the FED rate hike. This was because it had already suffered enough from the massive selloff that happened after the merge event.

The price of Ethereum was at the $1384 level when the FED rate hike came out. After this, it fell to the $1229 level. Less than a $150 drop. Just like bitcoin, the price of Ethereum collided with the floor and immediately rebounded, with the bulls taking over and sending the price back upward to the $1360 level.

Chart of ETH/USDT showing price rebound after lows from the FED rate hike

Chart of ETH/USDT showing price rebound after lows from the FED rate hike | Source: Tradingview

The price of Ethereum has reversed from there and is now trending down again. At the time of writing, the price of Ethereum is around the $1290 level.

The RSI on Ethereum shows slightly oversold conditions and may mean that the price is either about to experience a reversal, or more consolidation is expected before a more serious move up or down.

 

Disclaimer:

The author’s comments and recommendations are solely for educational and informative purposes. They do not represent any financial or investment advice. Always DYOR  (do your own research).

Jim Haastrup Author
Crypto Writer

Jim Haastrup is a freelance blockchain and metaverse writer. He helps founders, investors, startups, crypto, and blockchain enthusiasts connect with their audience and win investment through the written word.

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Crypto Analytics Firm Santiment Predicts Massive Price Rallies for BTC and XRP

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VOC, Voice of Crypto, BTC

Santiment, one of the top crypto analytics firms, seems to have much to say about bitcoin. They have recently stated that the benchmark cryptocurrency’s social dominance has actually gone up.

The social dominance metric harvests real-time data about the percentage of discussions on platforms such as social media focused on any one asset at any particular time. This metric uses the data of one asset relative to others to gauge the sentiment on the former. With this data, the social dominance metric acts as a reliable signal for predicting where the price of an asset might be headed.

Santiment maintains that Bitcoin’s price has hit a three-month low, right after the negative comments about it have surged to monthly highs. They also state that investors shorting bitcoin on exchanges have “halted the bleeding.” According to santiment’s report, Bitcoin’s social dominance has spiked, signaling a good bottom for the cryptocurrency.

Bitcoin's social dominance in correlation to its potential bottom, santiment

Bitcoin’s social dominance in correlation to its potential bottom | Source: santiment

XRP to Win SEC Lawsuit

As with XRP, however, santiment holds that the optimism among its bulls and traders that Ripple Labs may come out victorious in the ongoing lawsuit the SEC has against them has contributed to its recent pump. It is also important to note that XRP is the sixth largest cryptocurrency by market cap.

Other Altcoins

In an unexpected turn of events, santiment mentioned Ethereum Classic (ETC), one of the original Ethereum forks that still runs on a proof of work Blockchain.

According to santiment, the short interest in Ethereum classic has surged and may signal a massive dip on its part.

It is also important to note that Ethereum classic is the 22nd largest cryptocurrency by market cap. Santiment maintains that Ethereum classic is now experiencing the highest volume of short interest on exchanges among all 150 top crypto assets.

Ethereum classic’s situation is the exact opposite of the situation with REN, which is experiencing a high level of long interest. Santiment states that Ethereum classic is experiencing a high level of drawbacks against its price, as its bulls are beginning to weaken.

This short interest in Ethereum classic, as santiment highlights, became strongest right after the Ethereum merge earlier this month.

Of course, as we have now established, this is the exact opposite of REN’s situation. While the perpetual funding rates on exchanges point to greater price increases as far as REN is concerned, the exchange funding rates on Ethereum classic are flashing reds. They may mean that Ethereum classic is about to experience a massive dip.

 

 

 

Disclaimer: The author’s comments and recommendations are solely for educational and informative purposes. They do not represent any financial or investment advice. Always DYOR  (do your own research)

 

 

 

 

Jim Haastrup Author
Crypto Writer

Jim Haastrup is a freelance blockchain and metaverse writer. He helps founders, investors, startups, crypto, and blockchain enthusiasts connect with their audience and win investment through the written word.

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Algorand (ALGO) Surges 23% as NFT Sales Hit New All-Time High

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VOC, Voice of Crypto, ALGO

Algorand is a Layer-1 proof of stake blockchain network with the cryptocurrency ALGO as its native crypto.

The platform recently announced that it had elected a new CMO, Michele Quintaglie. This isn’t surprising because Quintaglie has an impressive track record. She has served in several corporate comms in various fortune-100 companies like Fidelity asset management, United Technologies, and visa incorporated.

This new job assignment will see Quintaglie tasked with developing new strategies to improve the position of Algorand in the market through deals, sponsorship, and key influencer marketing.

Asides from electing a new officer in the company, Algorand is in the news because its Non-Fungible token (NFT) sales have reached a new all-time high, even though we have only spent 3/4 of the total days in September.

These new developments with Algorand have shown that investor interest in their NFT items is increasing and may very well be a sign that more is yet to come.

Algorand’s 24% Pump

Lately, the price of ALGO broke out from the $0.37 resistance and increased by a massive 23% in total, its price reached a high of about $0.47.

However, the bulls could not keep up this momentum, and the price fell soon after. This created what seemed like a “fake-out” from the resistance it appeared to have broken from. ALGO’s price was right back below the resistance it had just surpassed.

Despite this unclear market pattern, however, the RSI on the daily timeframe still displays signs of potential bullishness and may see the price attempt to break through the $0.37 resistance again. Overall, the RSI reached a high of about 65, marking the highest value since March.

Hourly chart on ALGORAND / USDT showing price consolidation around $0.37

Hourly chart on ALGO/USDT showing price consolidation around $0.37 | Source: Tradingview

Algorand on Hourly Chart

On the hourly timeframe, ALGO appears to be consolidating around this $0.37 level and may see further movement upwards if the bulls defend this level with vigor and pushback against the bears.

The Relative Strength Index (RSI) on the 4-hour timeframe indicates slightly overbought conditions. It may suggest that ALGO will consolidate for quite some time before any strong price movement to the upside or downside.

Chart on the 4-hour timeframe, showing slightly overbought conditions on ALGORAND, and possible price retest of the $0.34 zone

ALGO/USDT Price Chart | Source: Tradingview

The price of ALGO is expected to trend downward and retest the $0.34 level before a possible rebound upward or possibly a breakdown of this support level.

 

 

Disclaimer: The author’s comments and recommendations are solely for educational and informative purposes. They do not represent any financial or investment advice. Always DYOR  (do your own research)

 

 

 

 

 

Jim Haastrup Author
Crypto Writer

Jim Haastrup is a freelance blockchain and metaverse writer. He helps founders, investors, startups, crypto, and blockchain enthusiasts connect with their audience and win investment through the written word.

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Dogecoin Gains while Bitcoin Still Remains below $20,000

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VOC, Voice of Crypto, DOGE

Dogecoin has jumped about 5% over the last day after bouncing off its $0.055 support at the time of writing.

The cryptocurrency currently trades at $0.0616 and has tapped resistance at the 200-p moving average on the 4-hour timeframe.

Since mid-august, dogecoin has been trading inside a descending channel and is now at its top resistance. Overall, the outlook on dogecoin seems slightly bearish from the short and long-term perspectives because of its short-term price movements and the long-term bearishness of the overall crypto market.

If the price of dogecoin breaks the 200-p moving average in the 4-hour timeframe and then closes above the $0.62 mark, a medium-term rally to the $0.72 level before a correction could be possible.

 Dogecoin Price Analysis

Dogecoin appears to be consolidating around the $0.061 level on the daily timeframe and has been doing so since late August.

It has broken below the $0.6158 support it last tested in late July and is now retesting this zone.

Daily Market Conditions on dogecoin

Daily Market Conditions on dogecoin | Source: tradingview

If the bulls win against the bears, a trend upwards toward the $0.724 level as the price forms what would be a head and shoulders pattern is possible.

Conversely, if the bears push the price of dogecoin lower, a retest of the $0.0483 zone like it was in mid-June might be witnessed.

The RSI indicator on the daily timeframe shows neutral price conditions, meaning that dogecoin can either trend further upwards and confirm the head and shoulders pattern or reverse downwards to retest the $0.48 level and form a bullish wedge.

DOGE on the Hourly Timeframe

On the hourly timeframes, the price of dogecoin seems to have tested the 200p moving average and is now showing signs of bearishness.

The price of dogecoin on the hourly chart appears to be in a bearish channel and is likely to be headed back down to the support around the $0.54 zone.

Hourly market Conditions on dogecoin

Hourly market Conditions on dogecoin | Source: tradingview

It is expected that the bears will take over from here and drive the price down to the $0.54 zone before a momentary correction to the upside and then further movement downwards to the $0.049 zone.

Conversely, if the bulls manage to step in once more and help the price of DOGE close above the $0.062 zone, we may see a rally to the $0.65 support, a breakout, and then some movement upwards to the $0.07 zone to confirm the head and shoulders pattern we saw earlier on the daily timeframe.

Dogecoin On-Chain Data

Overall, DOGE has gained 5.08% over the last day at the time of writing and currently trades at $0.06123.

However, the trading volume has declined by 7.19% over the last day and currently sits at $351.3 million.

The market cap of dogecoin is also up by 5.78%, as calculated by CoinMarketCap, and is currently at $8.1 billion.

 

Disclaimer: The author’s comments and recommendations are solely for educational and informative purposes. They do not represent any financial or investment advice. Always DYOR  (do your own research)

 

 

 

 

 

 

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Adekunle Joshua is a cryptocurrency writer. He has a deep understanding of the technology and how it can be used to improve the world. James is a strong advocate for using cryptocurrency to make the world a better place. He wants to help people understand the technology and use it to improve their lives.

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