Metaverse won’t be turning point in cryptocurrency adoption, investor Chesnais says – Reuters
WASHINGTON, Dec 2 (Reuters) – The growth of online virtual worlds will help advance the mainstream adoption of cryptocurrencies for payment transactions but it won’t be a game-changer, according to Frédéric Chesnais, chief executive of French fintech company Crypto Blockchain Industries (ALCBI.PA).
In blockchain-based 3D virtual worlds, often referred to as metaverses, users can purchase and trade virtual assets and services using cryptocurrencies. Some analysts have argued the growing popularity of metaverses will drive an explosion in digital tokens.
“I think it will be important but I don’t think this is the key turning point,” Chesnais, who was until earlier this year the CEO of videogame company Atari told a Reuters NEXT panel on Thursday.
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Interest in the metaverse exploded after Facebook said in October it was changing its name to Meta and would be focusing on building its own virtual world. Other big companies and smaller fintechs are also rushing to develop digital worlds.
Crypto Blockchain Industries invests in blockchain projects and is developing AlphaVerse, a blockchain-based metaverse.
A 3D printed Facebook’s new rebrand logo Meta is placed on laptop keyboard in this illustration taken on November 2, 2021. REUTERS/Dado Ruvic/Illustration
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