Metaverse Holds A Lot Of Potentials – Bank Of America Official

A high ranking official of the Bank of America, Haim Isreal, has opined that the metaverse holds massive opportunities for the broader adoption of the digital asset sector. Haim made his opinion during a recent interview with a popular crypto-related podcast.

Vast Potential In The Metaverse

Haim further said that the metaverse would be the best way to deploy digital assets in traditional financial transactions. However, he stressed that many people would prefer to use USDT, USDC and other stablecoins instead of private digital assets because of the high volatility of the private digital assets.

“I am convinced that this is a big opportunity once the platform is right. It would even provide greater exposure for the crypto space. Likely, digital currencies would soon be the normal currencies.” Haim concluded. The official further predicted that top financial institutions would start investing in crypto once the metaverse gains more foothold. Also, the inter-relationship between the two sectors means a partnership is inevitable.

The “Metaverse” Hype

The metaverse recently became the subject of more debate in the crypto world following the renaming of Facebook as meta. Its management stated that its objectives have now extended beyond just being a social app. Consequently, many more people became more interested in knowing more about the sector and its potential. You’d recall that grayscale had earlier claimed that the metaverse would soon become a $1 tr industry. 

A Dapprader report also highlighted the increasing interest in projects related to metaverse since the Facebook announcement. The report noted that $100m worth of transactions had taken place in the metaverse sector over the past week, with most of the transactions revolving around lands and real estate. Facebook’s renaming and grayscale’s statement has alerted the interest of several venture capitalists who are now massively investing in metaverse-related projects.

Adidas Makes Entry Into The Metaverse

Sportswear giants, Adidas, has now embraced metaverse officially. Adidas made its announcement by displaying various NFT screenshots consisting of a BYAC member clothed in an Adidas sweater. It further revealed that it has also partnered with punks comic and money via its official Twitter channel. 

The sportswear giant, previously disclosed a collaboration with Coinbase, called the metaverse a hugely attractive development for the digital asset sector. Similarly, Adidas announced a new partnership with sandbox but didn’t expound on the details about the partnership.

The tweet with more than 8.5K likes and 4.5K retweets as of this writing linked to a website with the inscription “Adidas metaverse.” perhaps as an additional show of proof, Adidas also changed its Twitter profile image to bayc one having previously purchased bayc nft #8875.

Adidas bought the NFT for about 46.5 ETH. However, the sportswear company is yet to reveal details of when its bayc NFTs will be publicly launched. One of Adidas main rivals in the sportswear industry, Nike, is also making forays into the metaverse space and has already established the “Nikeland.” Nike revealed details about this metaverse in a lengthy blog post. They stated that the main aim of Nikeland is to create a competitive environment and where any creator can access helpful resources.