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MetaConnect & Altcoins: What to Expect for Crypto at Meta’s AI-Focused Event?

Heads up, crypto enthusiasts! All eyes in the tech world are turning towards MetaConnect, Meta’s highly anticipated two-day event on September 27-28. While the spotlight is firmly on Artificial Intelligence (AI) and the immersive realms of virtual, mixed, and augmented realities, whispers of blockchain and crypto are also in the air. Why? Because Meta, the company formerly known as Facebook, has a history with blockchain that’s too significant to ignore. Let’s dive into why this event could be more relevant to the crypto space than you might think, and which altcoins are particularly interesting in this context.

MetaConnect: AI First, But What About Blockchain?

MetaConnect is shaping up to be a showcase of Meta’s cutting-edge advancements in AI and extended reality technologies. Think mind-blowing VR experiences, smarter AI assistants, and maybe even a glimpse into the future of the metaverse. But for those of us in the crypto world, there’s a burning question:

Will blockchain get a mention?

It’s not just wishful thinking. Meta has previously dipped its toes into the blockchain waters, forging partnerships and integrations that hint at a deeper interest. Even though their NFT support on Instagram and Facebook was paused earlier this year, Meta has signaled a continued commitment to Web3. This means blockchain could still be a crucial, albeit perhaps quieter, part of Meta’s future strategy. Let’s explore the altcoins that have already crossed paths with Meta and why they are worth watching as MetaConnect unfolds.

Which Altcoins Have a Meta Connection?

Meta’s past engagements in the blockchain space offer clues about where their interests might lie. Here are some altcoins that have been directly or indirectly linked to Meta, and why they matter:

  • Oasis Network (ROSE): Privacy and Ethical AI in Focus

    Remember the buzz around ethical AI? Oasis Labs teamed up with Meta to tackle a crucial challenge: ensuring fairness in AI. They used Secure Multi-Party Computation (SMPC) to evaluate AI models without compromising user privacy.

    Significance: This collaboration highlights Meta’s awareness of responsible AI development and user data protection. Oasis Network’s focus on privacy-preserving technology aligns with these concerns, suggesting potential future collaborations in areas where data security and ethical considerations are paramount.

  • Flow (FLOW), Polygon (MATIC), Solana (SOL): NFTs and the Creator Economy

    When Instagram decided to embrace NFTs, it wasn’t just about jumping on a trend. It was about empowering creators and expanding the digital ownership landscape. Meta chose to support NFTs minted on Ethereum, Polygon, Solana, and Flow blockchains within Instagram.

    Significance: This multi-chain approach demonstrated Meta’s openness to different blockchain ecosystems. Flow, Polygon, and Solana, known for their scalability and lower fees compared to Ethereum, became key players in Meta’s initial NFT foray. Even with the pause on NFT features, the underlying infrastructure and relationships built with these blockchains could be reactivated or repurposed in the future.

  • Trust Wallet (TWT): Bridging to the Broader Crypto Community

    Meta’s decision to support Trust Wallet, a popular third-party crypto wallet, was a significant nod to the wider crypto community. It signaled a willingness to integrate with established crypto infrastructure rather than building everything in-house.

    Significance: Trust Wallet integration could have paved the way for smoother onboarding of crypto users into Meta’s platforms. While the current status of this integration isn’t explicitly detailed post-NFT feature pause, the strategic intent to connect with existing crypto wallets remains noteworthy.

  • Arweave (AR): Decentralized Storage for Digital Assets

    Where do you store digital collectibles in a decentralized world? Meta turned to Arweave, a platform specializing in permanent and decentralized data storage, to house creators’ digital collections on Instagram.

    Significance: Arweave’s involvement underscores Meta’s understanding of the importance of decentralized solutions for digital ownership and data permanence. This partnership points towards a potential long-term strategy for managing digital assets in a way that aligns with Web3 principles.

  • Ceek VR (CEEK): Exploring the Metaverse and Virtual Experiences

    The collaboration between Ceek VR and Meta hints at explorations in the metaverse and virtual reality space. Ceek VR is known for its metaverse experiences and VR content distribution.

    Significance: This partnership aligns with Meta’s core focus on building immersive digital experiences. Ceek VR’s expertise in VR and metaverse content could be valuable as Meta continues to develop its metaverse vision. It highlights a potential interest in diversifying metaverse content and platforms.

NFT Pause, Not a Blockchain Exit?

It’s true, Meta discontinued NFT support on Instagram and Facebook earlier in 2023. Reasons cited included evolving legal landscapes and a need to refocus. However, it’s crucial to note that Meta explicitly stated this wasn’t a complete abandonment of Web3 or NFTs. Instead, it seemed like a strategic pause to reassess and adapt.

Key takeaway: Don’t mistake a strategic pivot for a full retreat. Meta’s actions suggest a cautious but ongoing interest in the blockchain space.

Meta in the Broader Tech & Blockchain Landscape

Meta isn’t alone in exploring the convergence of AI and blockchain. Tech giants like Microsoft and Google are also making significant strides:

  • Microsoft: Partnering with Aptos (APT) and LeverFi (LEVER) – indicating interest in blockchain infrastructure and decentralized finance (DeFi).
  • Google Cloud: Collaborating with LayerZero (ZRO) – focusing on interoperability and cross-chain solutions.

This industry-wide trend suggests that blockchain and AI are increasingly seen as complementary technologies, not competing ones. Companies are exploring how blockchain can enhance AI applications (e.g., data provenance, security, decentralized AI) and vice versa (e.g., AI-powered blockchain analytics, smart contracts).

What to Watch for at MetaConnect

While AI and VR/AR will undoubtedly dominate MetaConnect, here’s what crypto enthusiasts should be paying attention to:

  • Subtle Blockchain Mentions: Listen for any hints about future Web3 plans, even if blockchain isn’t a central theme. Keywords like “decentralization,” “digital ownership,” “creator economy,” and “data privacy” could be subtle indicators.
  • Metaverse Updates: Metaverse development is deeply intertwined with Web3 concepts. Any announcements about Horizon Worlds or metaverse initiatives could have blockchain implications.
  • Partner Ecosystem: Pay attention to any new partnerships announced. Are there any collaborations with blockchain-focused companies or projects?

Final Thoughts: Crypto’s Seat at the Meta Table?

MetaConnect is primarily an AI and extended reality event, but dismissing its relevance to the crypto world would be a mistake. Meta’s past blockchain engagements, coupled with the broader industry trend of AI and blockchain convergence, suggest that crypto is still on Meta’s radar. While a major crypto announcement might be a long shot, subtle signals and strategic hints at MetaConnect could offer valuable insights into the tech giant’s evolving Web3 strategy. Keep those crypto eyes peeled – the future of Meta and blockchain might be more intertwined than we currently realize!

Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.