Good evening Hivians!
Metaverse, NFT's and Taproot was the hot topics in November! Read my report below to understand why!
Already a month since my October Crypto Report, I can tell, time flies by when you are having fun and enjoying exciting moments, that’s for sure! Sitting here already writing about November news within the crypto sphere - it feels like I am still writing about October lol, scary moments.
However, what past is past and today I will give you a short overview of the past, more specifically a short overview of what went down in the crypto sphere in November. We do know that November left behind a pretty good month in general for crypto. Lately tokens within the metaverse have seen great growth. Facebook (FB) changed their name to Meta, and they have announced that they want to employ 10 000 people in EU, and the objective is to build the metaverse. And this is actually in a time when almost no one knows what the metaverse really is. So ye, exciting times!
So, since there are a little too few that really knows what the metaverse is, I will give you a super short explanation. It really is all about the digital universe and which opportunities that is within this universe. Meta (Face Book) has seen this digital evolution coming and have been proactive with projects like Libra (now Diem). Diem is Meta’s own crypto currency which is possible to use on their own platform. If Meta is going to succeed with its investment within the metaverse is still uncertain. That which is obvious though, is that many other tech companies have gotten their eyes on this next “trend”. So, who is going to be the biggest player within the metaverse in the future I ask myself, because the one that wins this race is going to smell success all the way from here and up to the moon! Is it going to be Meta or will HIVE beat the s*** out of Meta and lead the way? This is still uncertain, but it is going to be one hell of an exciting journey to follow.
Anyways, November was a month where I read a lot about crypto in the newspapers, and that is to be honest because it is getting more and more interesting stuff to read. I can see that there are more and more companies that are going into crypto. And I bet you agree, NFTs has been the biggest talk the last month. Here at HIVE, as well during the introduction of the punks especially. People have been talking about NFTs for a long time, but November was the s*** in terms of NFT topics, how awesome is not that? It is not just regular people that have gotten their eyes open for NFTs, companies seem to have found an interest for this “trend” as well.
So, what is an NFT? NFT – “Non-fungible token” which represent something unique. You can look at an NFT as a kind of digital receipt that confirms your ownership of a digital object. One example could be that you own a Hive punk, or a Splinterland card. You can prove that you own a Hive punk or a Splinterland card. This will then make it almost impossible to fake them. However, I said that companies seem to find interest for the latter digital trend, and one of them is Coca cola and Nike, and they are investing heavily in this – GOGOGO!
Although NFTs have been a hot topic in November for private and professional players, I cannot rule out the news of Taproot which is the most important upgrade Bitcoin has made in four years. The update covers a lot but perhaps the most important is that Taproot increases the anonymity associated with transactions with bitcoin. The Taproot upgrade shall also work faster to verify transactions on the Bitcoin’s network. It is worth mention that the last time the Bitcoin network was upgraded we had the creation of Bitcoin Cash, a new cryptocurrency. Wonder what will happen this time, ha-ha! Doubt there will be a new cryptocurrency but anything that is new will get some criticism.
Hope you enjoyed this month report! I mainly focused on the metaverse and NFTs because I believe that it is going to be talked a lot about crypto and NFTs on the Christmas parties this December. We had our yearly Christmas Party last week and I can tell, there was a lot of discussions around NFTs! The latter topic is going to be hot at Christmas parties, I know lol!
Cheers
-Olebulls