Cardano founder and developer Charles Hoskinson recently opened up about the Metaverse project. It is worth noting that Facebook has recently announced a rebranding of its product and reinvented the social media wheel under the title of Meta. Hoskinson was speaking to Tony Edward, who hosts a podcast called Thinking Crypto online.
Commenting on the subject of Metaverse, Hoskinson claimed that virtual reality and augmented reality are the future for social media and mainstream electronics gadgets. Edwards asked Hoskinson this question considering the increasing interest of the Ethereum co-founder on the subject. In response, Hoskinson added that the pace of technology is changing, and it will be replaced with the latest innovative options in the next five years.
Rise of VR Technology
Charles Hoskinson claimed that Meta is not the first or the only company that is taking an increasing interest in VR and AR technology development. He mentioned companies like Apple, HTC, and Oculus that have already started different projects in this field. The mathematician also claimed that as soon as Apple Inc. is going to integrate the VR technology gadgets into their iPhones, Samsung is going to submit its copy into the mainstream market.
Hoskinson also believes that Apple Inc. will be able to introduce VR-related features into their consumer products by 2025. He claimed that blockchain technology provides a trusted network for the developers to digitize the physical and physicalize the digital entities. He further added that the application of the new technology is going to cover far more than just the gaming and social media industries.
The Facebook network was planning to launch a personalized digital asset token called Libra in the market. However, after getting a considerable amount of regulatory pressure from the state agencies, the social media organization changed the project name to Diem and launched a digital wallet called Novi. For the time being, Novi is operating in a pilot phase and supports two major digital tokens called MANA and SAND.
Furthermore, Facebook has also rebranded its company name under META, which is now registered under the META ticker at NASDAQ. During this short time, MANA and SAND tokens have experienced a considerable amount of price appreciation. Hoskinson believes that the scope of VR, AR, and Web 3.0 technology is going to spread to the industries like fashion, real estate, hospitality, traveling, health care innovation, and much more.
