Venture capital supports the metaverse

This is the name given to this space that is growing more and more: the successor of the mobile internet. About five years ago, these investments around the 115 billion that Andreessen Horowitz and NGC Ventures have received since 2010 are evident.

There is a huge signature of interconnected spaces that appeal to users and enhance their technology experiences, and while these spaces are referred to as the “metaverse,” Ryan Vazwani of the PitchBook blog defined it as “simply an updated and improved version of the internet.”

Although some believe that the virtual and digital world is a different place, this idea is not acceptable to Vincent Lobo, who recalls leftist artist Hawtin’s comments about the interplay between technology and the internet. “To think of the internet and the metaverse as separate is to fallaciously suggest that the metaverse is a distinct virtual ecosystem built on a different physical network and computing infrastructure, which is unrealistic,” Lobo says.

The use of the aforementioned term emerged with billionaire Mark Zuckerberg in Stephenson’s science fiction novel, Snow Crash. Last year, the saying resurfaced thanks to him as well as Mark Zuckerberg, precisely with a name change claiming to be in the midst of a Metaverse turnaround by the company.

Meta’s efforts to achieve profits increased losses by a high percentage. At the moment, Facebook and its Metaverse division has lost 5.7 billion so far this year and will reduce revenues in the third quarter.

This is why the citizen controversy in many governments made Zuckerberg had to start denying his promises or extend the big data contract with news as embarrassing as the persecution of the Anonymous collective or the uncomfortable interviews of journalist Yomastur.

The companies that have been raising venture funding in the last year are driving a new economy that includes immersive hardware, metaverse infrastructure of blockchains and photonic computing, entertainment such as virtual reality gaming and decentralized social networks.

Christian Vaswani, president and CEO of the Risk Capital Society, points out in remarks to Forbes that the new generation of technologies such as blockchain what it is doing is creating a misguided cloud of illusions. While people presumably think that everything is just getting started and therefore the future supply, the way consumers conduct business on the internet is going to change drastically with this technology.

The moves for cryptocurrencies may be seen as such by many investors, but there are others who are still not so optimistic so we see Vaswani explaining the reasons behind the new attitude and giving us a double opinion.

Magic Eden announced this year a $130 million funding round to launch the NFT token marketplace, a virtual wallet. The firm also announced series B with U$S 109 million due to some credits settled by Paradigm.

Among the investors in the metaverse, which targets new emerging technologies, it is worth noting that the venture capital fund AU21 Capital invested in 111 startups, such as Axie Infinity and Polygon.

Of course, Valvani claims that VC funds will be jumping into the metaverse because they know this is what will happen as the digital economy moves beyond “the whole party.” However, the additional value of the metaverse is that the user has more control of their data and the interoperability is much better.

Just past the few months, metaverse enthusiasm has undoubtedly cooled compared to the time a year earlier.

Vaswani responded to Andreessen Horowitz by saying that, in his opinion, big bets by investors such as hiring an entire blockchain has not been successful.

Capital scrapped other business designers have reduced their investments in crypto-financial projects.