Venture capitalists are betting billions of dollars to create what in effect is an alternative world of finance, commerce, communications and entertainment on the web that could radically transform major elements of the global economy — all built on the blockchain technology popularized by Bitcoin. In first three quarters of 2021, venture capitalists poured a record $21.4 billion into cryptocurrency and blockchain-related companies, in 1,196 deals, according to Pitchbook, a market data provider. That is more than five times as much money compared to last year. They say the “digital status quo is broken,” with giant tech gatekeepers profiting off everyone’s creativity and data. Say you want work to be more like play — let your virtual pets do the hard labor by earning crypto in an online game drawing millions of players.

Source: Indian Express November 01, 2021 14:58 UTC