• Neal Stephenson, the creator of the term “metaverse”, believes that building experiences worth having in virtual worlds is difficult and therefore mainstream adoption of this tech may be far away.
• Stephenson also believes that blockchain and metaverse have a natural relationship, enabling interconnection between various worlds as part of a bigger world.
• He co-founded Lamina1 to lay a foundational layer for the creation of digital worlds that are compatible with what blockchains are capable of.
Neal Stephenson on Metaverse Adoption
Neal Stephenson, who coined the term „metaverse“ in his novel Snow Crash published in 1992, believes that building experiences that millions of people consider worth having in virtual worlds is quite difficult, hampering the adoption process of the tech. As part of an interview offered to the Financial Times, Stephenson stated: “There won’t be a metaverse that is used by millions of people until it contains experiences that millions of people find worth having, and making those experiences is quite difficult.“
Relationship Between Blockchain and Metaverse
Stephenson has established a clear relationship between the metaverse and gaming technology and explains that „the games industry is the economic engine and the technological engine that obviously is going to be the foundation of any future metaverse,“ citing Doom as one example. He also explained further how blockchain can interconnect virtual worlds: „I think that to build a metaverse, we’re going to have a situation where people are moving freely from one environment to another… all of this smacks of a decentralized kind of network of interactions and financial transactions that puts me in mind of blockchain.“
The Creation Of Lamina1
In order to create these digital worlds compatible with blockchains, Stephenson co-founded Lamina1 –a blockchain metaverse company– which he sees as laying down a foundational layer for them.
Blockchain Interconnecting Virtual Worlds
Stephenson believes blockchain will play an integral role in connecting different virtual worlds together into one bigger world. He explains how internal design can be done in a centralized way but movement between these digital realms can only be accomplished using blockchain-based tools.
In conclusion, although mainstream adoption may still be far away due to difficulty creating worthwhile experiences within these virtual spaces, Neal Stephenson has made clear his vision for how blockchains will be essential for interconnecting different virtual realms together into one larger world.
• FTX Debtors warn the community of phony ‚debt tokens‘ and scams claiming to be affiliated with the bankrupt exchange.
• A token called “FUD (FTX User’s Debt)” is circulating on the Tron blockchain and is listed on Huobi.
• The “Debtdao” has destroyed 18 million FUD tokens out of an initial supply of 20 million.
FTX Warns Community of Phony ‚Debt Tokens‘
FTX debtors who control the official FTX Twitter account have warned the community to „be on alert for scams from entities claiming to be affiliated with FTX.“ They noted that neither FTX debtors nor any entity related to the company has issued any IOU crypto assets or „debt tokens.“
Circulating Token Called ‘FUD (FTX User’s Debt)
A token called „FUD (FTX User’s Debt)“ has been circulating on the Tron blockchain and is listed on Huobi. As of Feb. 18, 2023, it was trading for prices between $15.05 and $16.88 per unit, according to coingecko.com. On Feb 6, 2023, Huobi announced that it had listed FUD, with an initial supply of 20 million tokens. Tron founder Justin Sun discussed the project in detail on Feb 4, 2023, noting that the „bond token represents the top-quality FTX debt asset and is set to benefit everyone in the crypto world.“
18 Million FUD Tokens Destroyed
The announcement also states that the “Debtdao” decided to destroy 18 million FUD tokens out of an initial supply of 20 million. According to Coingecko.com there are currently 2 million FUD tokens left in circulation; 1 999 966 are hosted on Huobi, with only four unique holders according to Tronscan explorer data.. Over 24 hours ago FUD saw a total trading volume of over $1million USDT across all exchanges where it was being traded as reported by CoinGecko .
Caution Advised To Avoid Scams
The alert from FTX debtors comes as a cautionary reminder for investors and traders alike not fall victim to any phishing attempts or scams relating those associated with FTX or its services . Investors should be sure to do their research before investing into any cryptocurrency or digital asset so as not get scammed by malicious actors posing as legitimate businesses or individuals .
In conclusion , investors have been warned against falling prey to fake ‚debt tokens‘ and other schemes claiming affiliation with bankrupt cryptocurrency exchange FTX . A token called „FUD (FTX User’s Debt)“ is circulating on Tron blockchain , however its legitimacy remains uncertain amid warnings from debtors . Furthermore , 18 million FUD out of an initial supply of 20 million have been destroyed according tot he Debtdao Twitter account . Caution must be always exercised when investing into digital assets so as not fall victim fraudulent activities .
• Shiba Inu (SHIB) and Litecoin (LTC) both rebounded from recent lows on Saturday.
• SHIB/USD rose to an intraday peak of $0.00001324, while LTC/USD moved to a high of $94.67 earlier in the day.
• The relative strength index (RSI) could be an obstacle for SHIB, while LTC is potentially heading for resistance at $95.00.
Biggest Movers: SHIB, LTC Rebound From Recent Losses
Saturday saw both Shiba Inu (SHIB) and Litecoin (LTC) rebound from recent losses, with prices starting the weekend relatively stronger than expected. Although overall sentiment remains bearish, the coins have seen some respite from their current bear market.
Shiba inu (SHIB) saw its price climb marginally higher to start the weekend, breaking out of a resistance level in the process. SHIB/USD rose to an intraday peak of $0.00001324 to start the weekend, less than 24 hours after bottoming out at $0.0000122. Today’s move saw the meme coin move beyond a price ceiling of $0.00001290, and away from a recent floor at $0.00001160.
However, today’s rebound has somewhat lost momentum as the relative strength index (RSI) of 14 days failed to move beyond the 55 mark; it is currently tracking at 52.55 which is marginally above a support at 51 levels should price strength continue toward this floor there is a strong possibility that SHIB could fall below $0.00001200 levels over time if not sustained by bulls soon enough .
Litecoin also rebounded in today’s session with its price rising for a second straight session on Saturday as it moved away from recent lows following a drop to low point at around 91 dollars per unit . LTC/USD moved to an intraday high of 94 dollars earlier in the day , Saturday’s surge has seen litecoin move away from its recent point of support at 91 dollars 40 cents and now seemingly moving towards resistance zone near 95 dollar mark .
The chart shows that bulls rejected any moves below 50 on RSI which might lead prices up towards 58 points on RSI but one possible obstacle will be 10-day moving average which appears approaching crossover point with 25-day counterpart anytime soon .
Bitcoin Price Outlook
Bitcoin started off this week trading near 38 thousand dollar levels before plunging down below 36 thousand dollar mark during midweek due to profit taking activities however since Thursday bitcoin has witnessed recovery and today BTC is up 2 percent near 37 thousand 700 dollar level . Moving averages are confirming bullish sentiments as 10-day MA crosses over 25-day MA however 50-day MA still trading below 200-day MA hence more confirmation needed before we can see any major bullish trend reversal .
Despite some respite for both Shiba Inu and Litecoin thanks to Saturdays rebound , overall sentiment remains bearish until further confirmation otherwise thus investors must remain cautious when making investments decisions .