Connect with us

Altcoins

Three new Metaverse Trends that could Revolutionize the Web in 2023

What are the new trends for 2023 that could redefine the web? This article is all about the three new Metaverse Trends that could Revolutionize the Web in 2023

Where does the Metaverse stand at the end of 2022?

With the bull market in 2021, the year 2021 managed to bring the most hype about the Metaverse so far anyway. The hype shot through the roof, particularly after the parent company’s name was changed from Facebook to Meta. The Metaverse was already making big strides into the mainstream.

Because of the 2022 bear market, topics like NFTs and the Metaverse lost some traction. New applications are still being developed, but with decreasing interest, developers are finding it tougher to unveil great campaigns at the moment.

Can 2023 rekindle interest in the Metaverse?

In 2023, there may be renewed interest in the Metaverse and its applications. Much will be decided by how the market evolves. We believe that the market will turn bullish again in 2023. In 2019, the market increased substantially. A similar trend could happen in 2023. If the market recovers, the Metaverse may regain some momentum, and more use cases may arise. Web 3.0 is not going to vanish.

Top 3 Metaverse Trends in 2023

Metaverse as a marketing channel 

When the first social media platforms were introduced, most users considered them a simple method for sharing content with others. However, it was only afterward that individuals and companies acknowledged social media’s potential as a marketing platform.

Users will quickly see opportunities similar to Web 2.0, so the Metaverse should start moving in this direction early on. Large corporations such as HSBC, JP Morgan, Nike, and Gucci have already decided to expand their presence in the Metaverse.

Virtual / Augmented Reality

For years, virtual and augmented reality has been an exciting topic waiting for a major advance. Meta (Facebook) has already outlined a vision of Web 3.0 in which users will move in the future in a virtual world.

One of the Metaverse’s main goals is to immerse users in a virtual world. The year 2023 might see several new developments in this field. New headsets, sense-of-touch body suits, and innovations for taste and smell sensory experiences are among them.

Advanced Avatars

Digital avatars are one of the most exciting Metaverse projects. In the digital world, these should represent people. Users present themselves and communicate with others in the digital space using avatars.

Cartoon avatars were the first to show up in the Metaverse, but photorealistic portraits of people resembling the person in the real world have since emerged. Unique avatars should have a greater role in 2023.

CryptoTicker Offer

Source: Altcoin

Altcoins

4 bearish factors for Bitcoin this week

The Federal Reserve meeting scheduled on Wednesday may be hawkish for the dollar Bitcoin might give up some of its 2023 gains on a hawkish Fed All eyes are on the Fed’s view on inflation, growth, future interest rates, and quantitative tightening The Federal Reserve’s monetary policy decision is scheduled this week. It is the […]

The post 4 bearish factors for Bitcoin this week appeared first on CoinJournal.

  • The Federal Reserve meeting scheduled on Wednesday may be hawkish for the dollar
  • Bitcoin might give up some of its 2023 gains on a hawkish Fed
  • All eyes are on the Fed’s view on inflation, growth, future interest rates, and quantitative tightening

The Federal Reserve’s monetary policy decision is scheduled this week. It is the first time the FOMC (Federal Open Market Committee) meets in 2023, and the stakes are high for the US dollar.

Bitcoin has strengthened against the US dollar in January so far, in sync with other fiat currencies. Therefore, whatever the Fed decides on Wednesday will affect Bitcoin price too.

A hawkish Fed may turn up being bearish for Bitcoin. These are the four areas where the Fed may express its hawkishness: inflation outlook, growth outlook, interest rates level, and quantitative tightening.

Inflation outlook

The Fed is committed to bringing inflation to its 2% target. This is why it has raised rates so aggressively, so if the Fed says that inflation is embedded and upside risks remain, then the US dollar should move higher.

In this scenario, the market will bet that the Fed sees ongoing rate hikes as appropriate.

Growth outlook

The currency stance is that a sustained period of below-trend growth is likely. If the Fed changed its view and sees recession required to have a material impact on the inflation outlook, that would also trigger a sharp move higher in the dollar.

Interest rates

Ultimately, it is all about the interest rate level. The funds rate range has reached 4.25%-4.50%, and all eyes are on what the Fed does and says on Wednesday.

The base case scenario is that the Fed will hike by 25bp and says that ongoing interest rate increases are appropriate. Therefore, anything more than that should be bullish for the dollar and bearish for Bitcoin.

For example, the Fed might hike 50bp. This is a risk going into the meeting, especially considering that inflation is not backing down as fast as initially thought.

Quantitative tightening

The Fed currently shrinks the balance sheet at a pace of $95 billion/month. A decision to accelerate the balance sheet reduction would be very hawkish for the dollar.

The post 4 bearish factors for Bitcoin this week appeared first on CoinJournal.

Source: CoinJournal: Latest Bitcoin, Ethereum & Crypto News

Continue Reading
Advertisement

Top Posts

We need your support.

Enjoying our free service? Please help us by clicking the ads on our website. They are 100% safe. Thank you!