Cardano founder Charles Hoskinson believes that the metaverse is necessary for cryptocurrency

The hypothesized version of the internet – the metaverse – has grown into popularity especially among the tech community. It’s been out there for quite some time now and has piqued the interest of many including notable personalities in the cryptocurrency space like the founder of Cardano – Charles Hoskinson.  

Talks about the metaverse within the crypto community are getting rife as people are musing about its future in connection to cryptocurrencies to which Hoskinson sees huge potential in this.  

Cardano founder’s two cents on the metaverse  

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During the Thinking Crypto podcast, Hoskinson – a well-known figure in cryptocurrency, not to mention a mathematician – expressed his positive sentiments regarding the metaverse. The Cardano founder, for one, stated that the technology is very much the real deal as this may well seem to address the naysayers out there who believe that it does not exist.   

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Calling it now  

Hoskinson added that “metaverses are really cool” and it’s not just a gimmick. He then highlighted that crypto is essential in putting up trust and scarcity models into it (metaverse) as one kind of physicalizing the digital and vice versa. He went on to say that in five to ten years, he believes that the metaverse will be a “humongous product category for cryptocurrencies.”  

Further, it is pretty much anticipated that in due time, the progress that could be made in the metaverse will have this feel similar to that of the physical world. Such thought was also shared by Hoskinson on that podcast where he pointed out that breakthroughs in artificial intelligence, semantics, and interfaces are implying that Web 3.0 is a vertical layer with the metaverse on top of it.  

The Cardano founder said that one can either cover onto the physical world digital characteristics like when a person is looking at a building like a restaurant showing its business hours in the metaverse user’s AR glasses or one can entirely go into the digital world and have a VR experience.  

Hoskinson went on to say that cryptocurrency is necessary to the space due to a control layer which according to him is essential for metaverses. Moreover, factors like “scarcity uniqueness” can be forces within the meta, adding that that would be the time for nonfungible tokens (NFTs) to enter the fray.     

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Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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