The market continues the downward trend even today as BTC trades below $42.5K down by 1.5%. Leader of alts ETH has slid below $3K down by 3%. All other currencies on the chart follow the market trend as they move down even further.
As the nascent crypto sector takes momentum, Shark Tank investor Kevin O’Leary says he’ll be investing in metaverse altcoins.
In a new interview with Kitco News, the celebrity investor claims that the metaverse will be constructed on Ethereum (ETH), Polygon (MATIC), Hedera (HBAR), and Helium (HNT).
“If you’re willing to buy a Facebook, a Google or Microsoft, that’s all software. And the metaverse is just software, so I’m starting to take positions in some of these big platforms where the metaverse is going to live like in Polygon and HBAR and Ethereum.”
He says Bitcoin is merely a piece of software. It’s not a coin, and questions why aren’t you investing in Ethereum if you’re prepared to invest in traditional software as a service companies like Microsoft Why aren’t you putting money into Polygon, HBAR, Helium, and all of these other platforms
“I’ve got a lot of different software platforms, and I’m not sure which ones will be successful, but diversity is good,” he added.
According to O’Leary, the metaverse has the potential to revolutionise the way products and companies are promoted.
He says if you believe that in the next three to five years, when things continue to move online, particularly experiential advertising, you’ll find it in the metaverse, where it’ll present itself first in gaming, and so we’ll see a lot of gaming, and esports will be a significant part of it.
He explains that the metaverse is divided into two directions: an ungoverned, uncurated metaverse where, if you’re a huge company like Procter & Gamble, you can find yourself set up in the metaverse next to a porn shop. That’s not going to happen in Facebook’s metaverse, where they’ll curate it. That may have more long-term value because if I’m putting up a brand that means anything to me, I don’t want to put it up next to a liquor store or a porn shop or whatever else is unregulated on the metaverse.