Hive (HIVE) is a cryptocurrency and blockchain-based social media platform that aims to provide a decentralized and censorship-resistant alternative to traditional social media networks.
It seems regulators will not leave Meta, the parent company behind Facebook and Instagram, alone, even after the company abandoned its cryptocurrency projects. The new regulations drafted in the UK will target Metaverse developments.
Meta plans to integrate non-fungible tokens (NFT) into its Facebook and Instagram social media platforms. Such a move could ensure that the popularity of this emerging industry skyrockets.
If the metaverse concept matures into reality, it will change the way we have known social interaction. However, the question remains. Why take the trouble of creating a metaverse if it is going to be under the control of a few tech giants!
Meta, formerly known as Facebook, was notorious for its somewhat hostile attitude towards cryptocurrencies when it banned cryptocurrency ads. However, the company recently announced that it is rolling back the ban and allowing more crypto ads on its social media platform.