Jesse Powell of Kraken on the Metaverse and its impact on various domains.
Metaverse has become a focal point in the tech industry nowadays with plenty of huge investments already pouring in. Technology giants like Facebook, Microsoft, and Tencent are already in the race to lay claims on the uncharted space of metaverse.
Talking to Yahoo Finance on the subject, Powell said, “People grew up playing these games and I think that this new stage of the metaverse where you have these goods, these virtual tokens, or these clothing or whatever it is [that] you can take between these different platforms, I think is what people are really excited about now.”
As for metaverse’s presence, he said that the idea is already in place in various versions especially in games. He added, “I mean, you could even look at Fortnite as a metaverse — Roblox (RBLX), Minecraft,
Second Life as sort of one of the very first iterations of this. And these are all successful to different degrees and for different purposes and different niche audiences, so I think people are making it out to be something more than it is.”
On NFT’s, Powell talked about its tremendous and meteoric success and attributed it to its quick mainstream adoption of projects like NBA Top Shot and Crypto Punks. Moreover, he also added that the younger generation is behind NFT’s huge popularity because it understands the values of digital stores, and products like avatars, virtual fashion products, etc.
“I don’t think there’ll be any single metaverse,” Powell said. “And I think it’s the same for Facebook, another kind of proprietary platform where I think they’ll support these blockchain assets and some representation of them in their world, and they’ll all have different rules.
And I don’t think anyone’s going to have a monopoly on this.” Powell further added.