Is there an alternative to PoW and PoS algorithms?
We have already written a lot about metaverses. We talked about metaverses where you can discover new lands, farm, live in a giant skyscraper, and even about a pet metaverse. We have mentioned that the fashion, entertainment, and sports industries are actively investing in their meta-future. After all, they understand the opportunities of brand promotion in the virtual world, because the metaverse is not just a realistic 3D virtual game, but a huge ecosystem with immense potential and a rapidly developing economy. According to industry experts, the Metaverse will far surpass the real world economy in the coming years.
The metaverse economy is built on cryptocurrencies - decentralized digital money based on blockchain technology. Decentralized Finance, or DeFi, is a platform that allows investors to trade financial products over a decentralized blockchain network.
Transactions do not require intermediaries such as banks or brokers. DeFi accepts investors who do not have a government ID, brokerage or bank account, proof of residency, or social security card.
What happens when you combine the Metaverse and DeFi? Welcome to MetaFi!
The developers of MetaFi claim that the current market products are not able to make Web3 truly decentralized: it is actually being traded, and talked about, on Web2. MetaFi changes this forever by making trading truly social on Web3.
The MetaFi World is divided into futuristic trading zones focused on each kind of asset - you can trade tokens, NFTs, tokenized stocks, commodities, bonds.
The $METAFI token is hyper-deflationary by design: the deflationary mechanism is based on the fact that as more users enter the metaverse and trade, more fees will be generated that will be used for activities that reduce MetaFi's circulating supply (buying and burning, providing liquidity, placing bets).
To enter the MetaFi world, you will need to create your virtual avatar - MetaFi Citizen and connect it with your crypto wallet.
One of the most important features of MetaFie is the ability to communicate - participants can chat, exchange text and voice messages, images, share knowledge and show their trades in real time. In this world, everyone is trading together and trying to beat the market using collective thinking, research and technical analysis.
“Most trading platforms compete with nearly identical products. MetaFi reimagines the trader’s experience: making trading fun, engaging, and social. With the Trading World, MetaFi will aggregate major decentralized protocols with deep liquidity, wrapped in a new gamified trading environment, designed to be a seamless onramp for non-crypto audience.”- Matt Danilaitis, Founder of MetaFi said.
This month, MetaFi announced the successful completion of a $3 million funding round. So, now the company with its web-3 virtual trading platform is valued at $25 million.
The booming interest in cryptocurrencies and metaverses, as well as the opportunity to improve trading skills, communicating and exchanging experience with other participants, make MetaFi very attractive to the crypto community. Currently there are over 100,000 participants on the waiting list.