• Facebook (NASDAQ: ) recently announced their Metaverse rebranding.
• Metaverse is a future aspect of decentralization.
• Crypter launches an “engage-to-earn” rewards program.

Mark Zuckerberg made waves when he announced Facebook’s rebrand and its wider goal of helping bring the metaverse, a convergence of physical and virtual reality, to life. But the metaverse goes far beyond the Facebook CEO’s plans.

The concept of the metaverse was coined back in Neal Stephenson’s 1992 novel Snow Crash. Many companies, including Facebook, have embarked on metaverse-related ventures in the past few years. Epic Games’ CEO Tim Sweeney commented on January 20, 2021, about the specific elements needed for an open metaverse.

Matthew Ball (NYSE :), a venture capitalist, laid out the key components of the metaverse within a January 2020 essay. In Ball’s eyes, the ecosystem would need to span across the physical and virtual worlds, feature a full-fledged economy, and offer interoperability so goods could be moved to different areas of the metaverse.

The metaverse concept has been the subject of rapt media attention lately. However, companies such as Facebook understand that the tides are changing towards decentralized communication platforms and social media platforms.

The metaverse is simply one aspect of a future where decentralization rules the day and conversations can be truly ‘social’ in nature without one company or organization exerting control over discussions. In August 2021, Twitter’s decentralized “bluesky” social media group appointed crypto developer Jay Graber as project lead to propel the organization as it embarks to build a decentralized social ecosystem.

Social networks that are decentralized give users more autonomy and control over the content they post. These social networks allow users to connect with each other and engage across platforms, which is a significant improvement over traditional social media channels that do not have cross-platform integration.

Crypter shows how social media is still decentralized. Crypter is the only social media platform to offer an “engage-to-earn” rewards program. Users earn just by interacting with other users on Crypter. Crypter’s social media platform is Facebook-like and allows crypto users to share their losses and build private groups. Users can also communicate and secure research for new investments. However, there are limitations that prevent scam projects or fraudulent ads from being promoted.

Some social media platforms are now limiting crypto-related content. Some users on traditional social media platforms are also wary of discussing cryptocurrency because they fear that their friends or family (particularly those who doubt digital assets) will be involved and spoil what might have been fruitful conversations.

This is why it’s important to have decentralized social networks as well as crypto-friendly communities and spaces within the metaverse. Crypter is a project that will benefit the cryptocurrency community. As decentralization expands in scope and popularity, projects like Crypter are an asset.

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