One of the hottest topics in the cryptocurrency universe revolves around the metauniverse, which will be supported by Web 3.0 technology, including cryptocurrency, blockchain and NFT.
Several companies are candidates to build this global network of connected metaverses. This includes The Sandbox (SAND), Decentraland (MANA) and tech giants like Facebook.
To show it’s not bluffing, the social media giant recently changed its name to Meta to show its commitment to developing hardware and software for the virtual world.
Meta CEO Mark Zuckerberg recently attended an event held in India about the company’s future plans. On the occasion, he highlighted that India will have a central role in the Metaverse.
“We consider what the next generation will look like based on the sources of these creators and developers. They will build the foundation of the metaverse. I think it’s clear that India will become an important part of it,” he said.
Zuckerberg’s assessment comes shortly after the opening of a new office in India, considered to be the first independent office in Asia.
Zuckerberg said that over the next three years the organization plans to form a small business in India, as well as a network of entrepreneurs and developers.
In addition, he praised the Indian gaming industry and said it is undergoing rapid transformation.
As Meta CEO pointed out, the development of the Indian games industry could help the platform to expand its talent pool in Metaverse, where play-to-earn games NFT games are the trends.
To take advantage of all this development, the Indian government is working to regulate cryptocurrencies. Recently, Indian authorities decided not to ban cryptocurrencies, as had already been proposed.
On the contrary. Digital assets will be considered an entirely new asset class. Therefore, they will be subject to regulation.