00:07 — The world of cryptocurrencies is a major component of the Metaverse.
00:16 — MANA is the Decentraland cryptocurrency. It took a 75% leap in its value last week. This is important, as it bucks the current crypto market trend which is incredibly bearish.
00:34 — The price of many coins has dropped dramatically in value. The fact that MANA is doing so well is a direct correlation with the upsurge of interest in the Metaverse.
00:47 — Now, Decentraland itself is an Ethereum based platform. So, it’s built on the Blockchain already and MANA facilitates payments as well as other actions within the ecosystem.
00:58 — [MANA’s success] represents an opportunity for more established traditional financial institutions to get a foothold in the Metaverse.
01:07 — Within the Blockchain industry, within cryptocurrencies, traditional financial institutions have been too late to get a real stronghold.
01:30 — However, Decentraland and other Metaverse spaces like it are showing that actually, cryptocurrencies can really do very, very well.
01:40 — Now, this is the time that more established financial institutions should look at investing in the development of a decentralized currency that can be used within Metaverse spaces.
01:55 — But the world of cryptocurrency in the Metaverse is a real eye-opener for established financial institutions and banks to look at what they’re offering and how they can adapt this to the Metaverse. But do it now. Don’t wait. They waited before and it hasn’t worked out so well.
Want to compete in the Metaverse? Subscribe to the My Metaverse Minute Channel: