• About
  • Contact
  • Privacy Policy
  • Terms and Conditions
Sunday, June 1, 2025
The VR Soldier
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases
No Result
View All Result
The VR Soldier
No Result
View All Result

Jack Tao Spoke About the Growing Potential of Metaverse

Paul Brabus by Paul Brabus
November 3, 2021
in News
Reading Time: 3 mins read
0
jack tao phemex metaverse
Share on TwitterShare on Facebook

More than 1,500 experts took part in the World Blockchain Summit in Dubai, UAE onOctober 13-14. One of them was a representative of Phemex, Jack Tao, who gave a meaningful speech.

At this event, participants were able to meet with like-minded participants, establish contacts with large corporations and start fruitful collaborations.

As Jack noted in his talk, spotting trends in the ever-changing world of cryptocurrencies are crucial for every company. In 2019, Jack created the Phemex platform.

It stands out among its competitors for its security, user-friendly interface and transaction speed. As a highly convenient exchange, Phemex is among the biggest platforms for trading cryptocurrencies.

Phemex on Metaverse

Jack shared his thoughts about the potential hidden in the Metaverse: “The Metaverse represents a new way for us to interact with the digital world, even more exciting and disruptive than our current Internet. No one knows exactly what it will look like, but that’s how it’s meant to be. You see, the Metaverse is designed to be created by each participant, not by a central authority. No one has a clear idea of what the Metaverse is because it exists separately in the minds of millions of people. That is why this term has gained such great popularity in recent years with the growth of cryptocurrencies – because blockchains provide the decentralization necessary for the development of the Metaverse.”

Jack has impressive expertise in this sphere. He believes that NFTs heavily contribute to Metaverse development:

“NFT is one of the main building blocks. This year we have witnessed massive growth, decline and a new rise in the NFT market. An eloquent sign that NFTs will stay here forever is not that several NFTs have been sold for millions of dollars but that tens of thousands of NFTs have been sold for modest amounts. This demonstrates that digital collectables are not just a playground for crypto-hales.; they are spreading in the direction of mass distribution.”

NFT is the future

Jack also emphasized the importance of NFT: “NFTs give us the opportunity to express our identity in the digital space, which cannot be imitated because it is fixed in the blockchain. Just like showing that each of us is unique in the physical world, NFT allows us to be unique in the digital realm.”

It is important to note that Phemex even held an event dedicated to NFTs. More than 1000 users of the platform took part and together they created an NFT featuring a composite mural with the Phemex QR codes of all participants. After listing and selling the NFT, Phemex shared the profits for all participants of the event.

The platform also supports the GameFi model. Here’s what Jack said about this model at this summit: “Within crypto, “GameFi” is a salient new trend that injects gaming into decentralized finance. Traditional gaming platforms currently generate billions of dollars by selling virtual in-game items. They have proven that digital status and utility holds real-world value. But their “pay-to-win” gaming model may soon be overtaken by the “play-to-earn” model made possible by blockchains. “

Tags: Metaverse
Previous Post

IoTeX Price ($IOTX) up 74% Today, Surpassing $1b in Market Cap

Next Post

DeRace Price Up 34%, Reaching new ATH at $4.67

Related Posts

Cardano Tanks 50% From Highs—Hope or Hype Ahead
News

Cardano Tanks 50% From Highs—Hope or Hype Ahead

June 1, 2025
Solana Price Prediction:Is the $200 Dream Dead
News

Solana Price Prediction:Is the $200 Dream Dead?

May 31, 2025
Featured

Netflix Casts Leads for FTX Drama

May 30, 2025
Featured

Trump’s Meme Coin Dinner Under Investigation

May 29, 2025
Altseason Is Here—But Only for a Few Minutes
News

Altseason Is Here—But Only for a Few Minutes

May 28, 2025
Bitcoin Shakes as Trump Talks Tariffs Again
Featured

Bitcoin Shakes as Trump Talks Tariffs Again

May 27, 2025

Press Releases

Bitcoin Gains Ground as Job Market Wobbles—Digital Gold to the Rescue?
News

Bitcoin Gains Ground as Job Market Wobbles—Digital Gold to the Rescue?

by Alex Mercer
May 25, 2025

Introduction It seems the U.S. labor market has hit a pothole—again. The Kansas City Fed’s Labor Market Conditions Index (LMCI)...

Read more
Altcoin Season Is Loading—But First, Let Bitcoin Do Its Thing

Altcoin Season Is Loading—But First, Let Bitcoin Do Its Thing

May 23, 2025
Dogecoin’s Ready to Bark Again—Could $0.30 Be the Next Fetch?

Dogecoin Ready to Bark Again—Could $0.30 Be Next

May 20, 2025
Ethereum Climbs While PEPE Reloads—Who's About to Explode

Ethereum Climbs While PEPE Reloads—Who’s About to Explode?

May 18, 2025
Trump Meme Coins Spark Calls for Treasury Review

Trump Meme Coins Spark for Treasury Review

May 15, 2025
The VR Soldier

© 2024 The VR Soldier

Navigate Site

  • About
  • Contact
  • Privacy Policy
  • Terms and Conditions

Follow Us

No Result
View All Result
  • Featured
  • News
  • Education
  • NEAR Protocol
  • Solana
  • Fantom
  • Yield Farming
  • Reviews
  • Press Releases

© 2024 The VR Soldier