Between NFT and Metaverse, the popularity of Ethereum grows

ETH Metaverse

The performance of Ethereum (ETH) in recent weeks has no rivals among the most important cryptocurrencies in that market. The popularity of this project would be based on the fever of Non-Fungible Tokens (NFT), DeFi and the Metaverse. In all cases, investors are looking to ride the wave to make a profit.

It should be noted that not only Ethereum is viewed with sympathy. At the same time, another no less promising project seems to attract attention, it is Solana. This Blockchain shares similarity with Ethereum in functionalities, both for smart contracts and for the NFT area. In addition, it has other characteristics that give it superiority, for example, scalability.

On the other hand, there is Binance Smart Chain (BSC). These are the main projects, for this functionality of collectibles and DeFi. Behind them, and increasingly lagging behind, is Cardano, an extremely complete Blockchain that is waiting for the moment to explode.


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To the fever of the NFT, the one of the Metaverse joins

But if the DeFi and NFT boom became one of the highlights of 2020 and 2021, the Metaverse will probably be in 2022. The spark is being lit by technology Facebook, which totally changed its corporate identity and now it is called Meta in reference to the Metaverse.

Although Meta is rapidly popularizing the concept and prospect of what this future technology will be, it is not alone. Thus, a significant number of companies are undertaking the construction of their respective versions of the Metaverse. Among them, video game companies stand out, which they will join from other areas such as cinema or education.

However, for many people, the construction of this futuristic technology by technology companies is not reliable. The latter is assumed taking into account the behavior of these firms in relation to the privacy of their users’ data.

Instead of relying on these almighty ones, some enthusiasts and even investors consider that the Metaverse, like the NFTs, makes sense only within the framework of the Blockchain. The blockchain is one of the strongest technologies and guarantors of security and privacy thanks to its encryption and decentralized nature.

ETH's over 1000% growth in the last year reflects a popularity fueled by NFTs, DeFi, and the Metaverse.  Source: Coinmarketcap.com
ETH’s over 1000% growth in the last year reflects popularity fueled by NFTs, DeFi, and the Metaverse.

Blockchain is the only guarantee of security in future technologies

Regarding the Metaverse, investors have various options to place their capital in the stock market. Among them, the participation of Meta, NVIDIA, Roblox, Tencent, Kopin and others stand out. Added to this are some exchange funds or ETFs, dedicated to this space.

Despite the wide range of variety when it comes to investing, all these firms are centralized and have an obligatory dependence on the authorities. In simple words, the security and privacy of people is not guaranteed in what is emerging as the technology that could replace the Internet.

In this way, the followers of the crypto market consider that the Blockchain is the only guarantee of a true Metaverse, as well as it is the only guarantee of ownership in the NFTs. In that sense, Vitalik Buterin himself, co-founder of Ethereum, was emphatic in a recent interview.

He ironized that Meta (at that time Facebook) was at the forefront of a technology in which people aspire to more privacy. He highlighted that by 2030, everyone could know what a hypothetical Ethereum-based Metaverse would be about.

The performance of ETH, the native currency of the Ethereum Blockchain, as already highlighted, is one of the most outstanding in the crypto market. During the last year, its value growth is 1.025%.