Exploring the Future of Metaverse Technology: Insights from Akash Girimath
Aa
Share
In the ever-evolving landscape of digital innovation, the concept of the metaverse has garnered significant attention. However, recent data from DappRadar indicates a notable decline in investments within the metaverse sector during the first half of 2023, accounting for a mere 10% of the previous year's corresponding period. In light of this development, the question arises: what lies ahead for metaverse technology?
To gain valuable insights into the future of the metaverse, we engage in a conversation with esteemed analyst Akash Girimath. Girimath highlights the current sensitivity surrounding cryptocurrencies, stemming from the US Securities and Exchange Commission's (SEC) recent enforcement actions following the collapse of the FTX exchange. Consequently, investors are approaching the crypto sector with caution, resulting in a reluctance to allocate capital to areas such as the metaverse, smart contracts, decentralized finance (DeFi), and other crypto sectors.
FXMAG.COM:
Data from DappRadar shows that in the first half of 2023, investments in the metaverse barely accounted for 10% of those in the corresponding half of the previous year. What's next for metaverse technology?
Akash Girimath:
The US Securities and Exchange Commission's (SEC) recent action to enforce power on crypto companies after the collapse of FTX exchange has made crypto a very touchy subject. As a result, investors aren't lining up to spend their capital on areas such as the Metaverse, Smart Contracts, Decentralized Finance (DeFi) or any other crypto sector.
The metaverse technology has potential, but it will need easing macroeconomic conditions and the start of a new bull run in the crypto market to supercharge investments. In the not-so-distant future, I see a marriage between Metaverse and Artificial Intelligence technologies that could birth a new category of projects.
