Mark Zuckerberg staked his status on the Metaverse, however is the tech titan now getting chilly ft?
The Metaverse is described as “a hypothetical iteration of the Internet as a single, universal, and immersive virtual world”.
And the billionaire founding father of Facebook, which rebranded as Meta final yr, has ploughed huge cash into his obsession to no discernible profit. Shares in Meta tanked to their lowest ranges since 2016 final yr.
And now the tech darling is pulling the plug on its non-fungible tokens (NFTs) characteristic.
“The parent of Facebook has pulled the plug on NFTs, for anyone that doesn’t know what NFTs are, it’s a non-fungible token that you can buy with crypto,” says finance knowledgeable Heidi Cuthbert on the newest episode of The West Australian’s new finance present Trading Up.
“NFTs go with the Metaverse like peas and carrots, so the big question is, what does this mean for Mark Zucakberg’s vision?”
Also on Trading Up, discover out why the alarm bells are ringing following the collapse of Silicon Valley Bank, what sensible buyers are shopping for, and the way Buy Now, Pay Later is making a comeback.
WATCH THE LATEST EPISODE IN THE VIDEO PLAYER ABOVE
Source: www.perthnow.com.au
