Exec Offers Hints on Crypto in Facebook's Metaverse
Metaverse

Exec Offers Hints on Crypto in Facebook's Metaverse

Created 9mo ago, last updated 9mo ago

According to John Carmack — the chief technology officer of Oculus — the tech giant’s embrace of digital assets will have its limits.

Exec Offers Hints on Crypto in Facebook's Metaverse

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With Facebook rebranding to Meta, there’s been feverish speculation that the company may be going all in on crypto, too.

But according to John Carmack — the chief technology officer of Oculus — the tech giant’s embrace of digital assets will have its limits.

During the livestream, it was confirmed that non-fungible tokens and cryptocurrencies will play a part in the metaverse, a virtual world that aims to transform the way we interact with friends.

But explaining where Meta might draw the line, Carmack said:

“Everybody agrees you have to be able to make a living in the metaverse. Commerce is going to be a part of it, but I use adult entertainment as a litmus test for how open a platform is. If there’s adult entertainment, it’s a very open platform from a commerce standpoint, we probably won’t be there.” 

Reading between the lines, it seems Meta is determined to remain a family-friendly platform — opening the door for cryptocurrencies to be embraced as long as it’s within the rules.

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Metaverse Tokens Surge

Carmack also revealed that there might be other issues, and mentioned that he’s “well aware of the swamp of scams and the spam that I have to clear out of my timeline every morning.” 

Of course, the newly rebranded Facebook is interested in rolling out a cryptocurrency across its platforms. For a couple of years now, it’s been working on the Novi digital wallet, and also plans to offer Diem to billions of its users.

Diem has been facing some regulatory hurdles of late — meaning that the stablecoin doesn’t feature in the Novi wallet trial that recently began in the U.S. and Guatemala. 

News of Mark Zuckerberg’s confidence in the metaverse has served as rocket fuel for a number of blockchain-based metaverse projects.

MANA, the native token of the Decentraland platform, has risen by a whopping 250% over the past seven days — meaning it’s hands down one of the best-performing cryptocurrencies in the top 100.

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