Facebook (NASDAQ:) has been planning its foray into the metaverse for some time now — possibly even several years. But it’s only recently that its ambitious expansion plans have catapulted the concept into mainstream headlines across the globe. Change of nameThe parent company of MetaPerhaps the most bold and ambitious declaration of intent that the firm made was this. Major news media outlets started to flood with explanation articles. Finance websites were abuzz with excitement over the new investment opportunities.

The response from the crypto world has been, however, more measured. Decentralized metaverse versions have been around for many years. Even worse, the tech giants’ cavalier attitude to user privacy and data harvesting has informed many of the most cherished principles in the blockchain and crypto sector.