Because cryptocurrency exchange platforms act more like banks, they should be subject to increased oversight to protect clients’ assets.
NFTs are hailed as the foundation of the metaverse economy because they allow you to purchase unique digital assets, from art to real estate. But legally, you might not own what you think you do.
Although it’s estimated illicit activity amounts to less than 1% of all cryptocurrency transactions, figures of losses are still staggering – and on the rise.
For the metaverse to work, people need to own their virtual bodies and possessions and be able to spend money. The same cryptographic technology behind bitcoin will make that possible.
It might sound ridiculous but the explosive market of crypto-collectibles and crypto-art is no joke. Here’s an explainer to make sense of it all
Using metaphors for cryptocurrencies helps people feel more familiar with the technology. But there’s a downside – we expect it to work just like regular money.