NewsCrypto has revealed plans to create an interactive crypto trading suite in their own Metaverse that will be built on Enjin’s Efinity parachain. In the NewsCryptoVerse, beginners and expert traders alike will be able to participate in everything from education to copy trading.
NewsCrypto announced that they will move their entire ecosystem – along with many expansions – into a VR setting starting in Q4 2022. The core element of the NewsCryptoVerse will be completely customizable virtual offices, which every trader will be able to outfit with unique trading tools, as well as their own personalized visuals and certificates from trading challenges or the NewsCrypto Academy.
The venture, kickstarted with a one million NWC grant program, will be realized in different phases from 2022 through 2026, starting off with the virtual offices MVP launching in Q4 of next year. As decentralization and security are key concerns, everything from user avatars to certificates and tradeable items will be represented as non-fungible tokens (NFTs). The project’s entire suite of on-chain features and tokens will be developed within the Enjin ecosystem, benefitting from extremely fast, negligible-fee transactions on the Efinity parachain and the security of the Polkadot network.
The NewsCryptoVerse will cover five different aspects of crypto: work, education, entertainment, networking and a marketplace. All these activities will take place in various virtual spaces, from a university building to office spaces and a trading room designed with utmost attention to detail. Throughout the NewsCryptoVerse, users will have ample opportunity to choose the environment and aesthetic that suits them the most, e.g. being able to trade either on a terminal in their own personal office or alongside other traders in a packed trading room resembling an 80s stock exchange. All of these spaces will offer ample opportunity for networking, which will enable users to learn from more experienced traders or to build their own personal brand as educators and crypto experts. Of course, NewsCrypto’s existing products – along with many upgrades and expansions – will still be available through the current interface on the NewsCrypto Platform and app, but many social and networking-focused features, such as virtual offices, will be exclusive to the NewsCryptoVerse.
As more and more brands have started migrating to the Metaverse – especially since Facebook (NASDAQ:FB) rebranded to Meta in October – the NewsCryptoVerse will also offer companies, brands and crypto startups a new avenue in which they can expand their products. Customizable virtual spaces will be available for projects through partnerships and direct purchases, leading to more user acquisition for crypto-focused projects.
This was echoed by Vid Gradišar, CEO and Co-Founder of NewsCrypto: “We believe the Metaverse will be the most important frontier for bringing crypto into the mainstream, and the current wave of adoption has only just begun. That’s why we’re building the biggest upgrade yet to the NewsCrypto ecosystem by bringing it to an open, interactive, social and feature-packed virtual universe in collaboration with Enjin, an NFT industry leader.”
The list of opportunities that the NewsCryptoVerse will offer is nearly endless, encompassing everything from education through trading to socializing, making it a one-stop solution for crypto enthusiasts. What’s more, it’s far from just a change in the user interface – moving from traditional websites to VR – since the community-oriented aspects will transform the entire experience of crypto from an often solitary endeavor to an interactive universe full of like-minded people from all over the globe. After all, a key motivation behind cryptocurrency was to transcend the boundaries between different countries with their own monetary systems by enabling truly global forms of finance, so it only seems fitting that the different ways of interacting with crypto – from learning about it to trading and sharing content with others – should transcend all physical boundaries as well.
