Monday, January 24

According to Goldman Sachs, blockchain technology will be the key to the functioning of the metaverse

According to the financial institution, if virtual goods or services cannot be moved from one space to another, it will limit their valuation in the metaverse, and consequently, their monetization. “This ability to identify objects and then trace ownership will be critical to the functioning of the metaverse when it finally materializes.”added the investment bank.

In the case of games linked to cryptography, such as Axie Infinity and The Sandbox, they already work with an economic system based on cryptocurrencies. There users can exchange items with non-fungible tokens, or NFTs or other types of digital assets.

Although the entity did not develop investment strategies related to the Metaverse, it assured that being linked to the blockchain will have broader and far-reaching implications for digital, and even physical, property. For now, Meta is the largest technology company whose plans are mainly focused on the Metaverse.