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If The Third World War Happens In Metaverse, Will People Be Hurt?

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If The Third World War Happens In Metaverse, Will People Be Hurt?

Metaverse represents our digital future, does this mean we will be battling in a virtual space?

Remember World Wars 1 and 2? Well, no one can forget those dark years of human history that are thoroughly mentioned in our history books. During Moscow’s ongoing massive military operation against Ukraine, Russian Foreign Minister Sergey Lavrov warned of a third world war’s “nuclear and devastating” consequences. There has been a time when people predicted the third world war and raised fear among others. But these days, the two buzz words (metaverse and war) may sound completely unrelated but if you think about it deeper, they are intertwined more than it initially appears. The metaverse is a hypothetical iteration of the Internet as a single, universal and immersive virtual world that is facilitated by the use of virtual reality and augmented reality headsets. In colloquial use, a metaverse is a network of 3D virtual worlds focused on social connection. There are economics, social ranks, land and asset owners, and many other things. Players themselves actually build the game from universal blocks, called voxels. So, is it possible that a third world war will take place in the metaverse? If yes, then will people be hurt?

Metaverse sounds too similar to the real world, doesn’t it? To players, the metaverse is a social space where they can compete, while socializing with their friends. It has been dubbed “a global living room for millions of gamers”. GameFi, as you know, is a play-to-earn gaming destination that combines video gaming, blockchain technology, and decentralized finance (DeFi). All the things that metaverse is trying to replicate exist in the real world which in my view no game can beat in terms of graphics and entertainment. In actual words, the metaverse is an escape from reality that we don’t feel included in or just simply cannot bear. Before we move further with the third world war taking place in the metaverse, let’s take a look at the disadvantages of wars:

The obvious casualties – An inevitable part of war is of course the loss of life. Sadly, lots of lives that get lost are innocent people who get caught up in the situation and of course, many opponents of war (and advocates of world peace) tend to only see that side of war.

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Hatred and propaganda – War is often used to justify hatred and discrimination against certain groups, which is obviously not good. The opportunity to rile people up against a certain group of people also gives rise to propaganda, as we’ve seen in World War II, the Cold War, the Vietnam War, and the current Mid-East conflicts.

Environmental damage – Modern warfare has been known to cause damage to the environment. One notable example is the damage done to the oilfields of Kuwait during the Gulf War of the early ’90s. Before the Gulf War, Kuwait’s dessert was healthy, despite centuries of nomadic grazing, and years of oil development. In the 60s and 70s, America

sprayed herbicides over the forests of Vietnam in an attempt to deprive guerrilla fighters of any cover the trees provided them with. This resulted in numerous toxins sinking into the soil and sea, many plants dying, many animals siring deformed offspring, and numerous other dreadful consequences.

There are numerous other disadvantages of war, and it should be avoided as much as possible. But what will happen if the war is taking place in the Metaverse?

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In traditional warfare, two nations go to war over something tangible and valuable. Play-to-earn games have economic value in the Metaverse as well as in the real world. This new way of gaming could replace physical wars where nations can battle in a virtual environment. 

As a result, this could force real loss onto players when they could “die” and lose all their cryptocurrencies and NFT assets. If something valuable can be taken away, then there is something worth fighting for.

 

What could go wrong?

Implementing games as a replacement for physical warfare is without negative consequences. This could alter the balance of global superpowers. This means that a nation’s status would no longer be determined by its resources and manpower, but by the gaming abilities of its people. Today’s professional esports players could be tomorrow’s cyber soldiers.

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Small DefenseTech Companies Will Compete With Meta In The Metaverse Race

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Small DefenseTech Companies Will Compete With Meta In The Metaverse Race

DefenseTech companies can boost the power of the military troops through the Metaverse

The Metaverse— the new and hottest digital world in recent times with the integration of augmented reality, virtual reality, blockchain, and 3D. Meta, or former Facebook, has introduced the new Metaverse technology for the seamless experience in the new advanced digital world with digital avatars. Every industry including fashion is highly interested in participating in the Metaverse race to boost revenue in the upcoming tech future. Meanwhile, DefenseTech companies have started entering the Metaverse race to compete against Meta to complete their strategies in the digital space.

 

The entry of the DefenseTech companies into Metaverse

The U.S. military has come up to the headlines in the global tech market for developing its Metaverse programmes to get started in the advanced blockchain ecosystem.  The aim is to boost defense training through digital avatars and seamless experience along with the aim to compete with Meta.

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Meta created this advanced Metaverse technology and ecosystem to popularize the concept of seamless and integrated user experience with cutting-edge technologies. Some of the leading DefenseTech companies are focused on reaping the benefits of the Metaverse technology to utilize the virtual action for the effective training of fighter pilots and other services in the military sector.

DefenseTech companies have recognized the power of augmented reality, blockchain, video game graphics, and many more to empower fighter pilots in a stronger and better method. The Metaverse technology will provide the sufficient practice field to dogfight against the toughest competitors and enemies such as Chinese or Russian military troops. The life-taking risks and threats can be controlled by an individual or through artificial intelligence.

Small DefenseTech companies are focused on competing with Meta through the combination of live, virtual, and constructive training in a more extreme and comprehensive ecosystem. Fighter pilots can experience synthetic threats in a high-speed environment with the help of blockchain and Metaverse technology. The new Military Metaverse is set to be the trending multiplayer video game in the sky. There is also an introduction of a new high-tech helmet for the fighter pilots with augmented reality displays for the necessary and relevant information.

Thus, that being said, DefenseTech companies are set to enter the immersive digital world with their own Metaverse to compete with Meta. This new Metaverse is determined to take the warfighter performance to the next level with battlefield effectiveness.

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Metaverse ETFs Are Losing Their Place To Gaming ETFs Now

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Metaverse ETFs Are Losing Their Place To Gaming ETFs Now

Metaverse EFTs arrived last year shortly after the term entered our lexicon and became a favourite of venture capitalists

Recently, Metaverse has gained lots of traction but isn’t performing as well on the market as last year’s model. Metaverse exchange-traded funds (ETF) arrived last year shortly after the term entered our lexicon and became a favourite of venture capitalists. Because the metaverse is simply a mashup of gaming and crypto, this metaverse ETFs look a lot like eSports or gaming ETFs, which were launched a few years ago. They look like them because the metaverse is an ambiguous term; the shared online experience, that is envisioned in Neil Stephenson’s science fiction novel “Snow Crash”, already exists on many multiplayer gaming platforms. Metaverse tokens don’t yet have listed proxies, so metaverse ETFs compensate for that by putting in publicly listed crypto companies like Galaxy (GLX.TO) or Block (SQ), the former Square. And that’s where the problem starts. Gaming tech heavyweights, like GPU designer Nvidia (NVDS) or game engine developer Unity, are in both baskets and haven’t performed well year-on-year but the inclusion of the likes of Galaxy Digital – down over 60% year-to-date and planning a stock buyback – really sinks the metaverse ETF.

 

What Is a Metaverse ETF?

An Exchange Traded Fund (ETF) can be defined as a basket of securities that is tradeable on the stock market. It combines the characteristics of traditional shares and mutual funds, as it is a collection of securities spread across companies like a mutual fund, but can be traded as a bundle on the stock market, just like shares.

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ETFs are mostly passively managed, which means that fund managers do not regularly buy and sell the securities in ETFs to return a profit and increase their value. Rather, they identify potentially high-value assets and invest in them for the long term, which is what makes it a good fit for emerging technologies like the Metaverse.

Metaverse ETFs are themed funds that invest in the best performing Metaverse and related stocks available on the exchange. They have low to moderate diversity and seek to gain from early and high-value investments in the burgeoning Metaverse sector.

Given the recent meteoric rise of interest in the Metaverse, they are an attractive investment opportunity for moderate to high-risk-appetite asset managers. Over the last year, a number of options have emerged for those interested in Metaverse ETFs.

 

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Pros and Cons of Metaverse ETFs

Metaverse ETFs are a convenient and attractive investment vessel for technology investors in 2022. It provides access to a fast-growing sector, which is still in its infancy so that investors gain from an early mover advantage.

On the downside, the Metaverse is still an evolving technology and there is no guarantee about the timeline of its release or market adoption rates. As it is, ETFs operate in non-diversified and high-risk asset classes and combined with the risk-prone nature of the Metaverse, it could prove challenging for investors.

Also, the SEC has typically taken a not-so-bullish approach to emerge technologies and rejected multiple bitcoin ETFs last year. It could be slow in approving Metaverse ETFs, which means that investments become channeled only via a handful of options available.

 

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Examples of Gaming Industry ETFs

The VanEck Vectors Gaming ETF (BJK) is one of the largest gaming ETFs with roughly US$74 million in assets under management as of December 2020. This thematic fund seeks to replicate the price and yield performance of the MVIS Global Gaming Index, which is composed of companies involved in casinos and casino hotels, sports betting, lotteries, gaming services, gaming technology, and gaming equipment.

Gaming industry ETFs sometimes refer to video games and eSports. ETFMG, which describes itself as a provider of thematic ETFs, launched the Wedbush ETFMG Video Game Tech ETF (GAMR) in March 2016. This fund tracks the EEFund Video Game Tech Index, which is composed of companies involved with video game technology, game development, console and chip manufacturing, and game retailers.

 

Benefits of a Gaming Industry ETF

Gaming ETFs generally offer investors the same benefits as broad market ETFs such as low expense ratios, decent liquidity, flexibility, and tax efficiency. They are traded on major national exchanges and can be sold short or bought on margin.

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Investors who want exposure to the gaming sector might consider a gaming ETF rather than putting all their eggs in one basket. However, while ETFs are associated with lower risks and volatility compared with individual stocks, investors should still follow due diligence before buying.

 

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After Crypto Failure, Phishing Attacks Are Pirating Towards Metaverse

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After Crypto Failure, Phishing Attacks Are Pirating Towards Metaverse

Multiple sites, including Etherscan and DexTools, have reportedly confirmed the crypto scam and issued alerts not to connect wallets.

Since the beginning of 2022, things aren’t in favour of cryptocurrencies. From major cryptocurrencies like Bitcoin and Terra to Memecoins like Shiba Inu, every single cryptocurrency is suffering. But when things are going bad for various crypto projects, the metaverse is becoming the canter of attraction. And seeing the massive interest in Metaverse, cybercriminals have started to target users with phishing attacks crafted around various Metaverse platforms. According to the Q4 2021 brand phishing report by Check Point Research, Metaverse platform Roblox was the 8th most imitated brand for phishing attacks during the quarter. Though Roblox accounted for only 3% of all brand phishing attacks, it’s the first-time brand phishing around a Metaverse platform has made it to the top ten. This article features how after the failure of cryptocurrencies, phishing attacks are pirating towards the metaverse.

“In the metaverse, fraud and phishing attacks targeting your identity could come from a familiar face – literally – like an avatar who impersonates your co-worker, instead of a misleading domain name or email address. These types of threats could be deal-breakers for enterprises if we don’t act now.”

 

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Brand Phishing Attacks

Brand phishing attacks have been quite effective as targets are more likely to click on them to get more information. The metaverse broadly refers to the idea of a virtual platform that can be accessed through different devices and where people can move through digital environments.

Given the huge interest in Metaverse in India, brand phishing attacks around it can be expected to grow more. According to the November 2021 report by DappRadar, more than half a million users in India have shown interest in Metaverse projects and NFTs, the third-highest in the world after the US and Indonesia.

In brand phishing attacks, threat actors send carefully crafted fake emails that appear to have come from the brand itself or one of its partners. The objective is to convince users that the email is genuine and then trick them to click on malicious links or attachments. The ultimate goal is to get into their accounts and system and steal personal information or banking credentials.

 

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Bored Ape Yacht Club Phishing Attack

Scammers behind the phishing attack faked that users would access the most significant NFT avatar, Bored Ape Yacht Club, by clicking on the provided link. And to make it real, the pop-ups featured an ape skull logo alongside the now-defunct domain, nftapes.win. Per the WHOIS lookup, the domain from where phishing attacks were being generated was registered on Friday, around 3:00 PM. ET.

The ad required users to connect their MetaMask wallets to use it on the site. Web 3.0 technology allows MetaMask wallets to authorize access to websites via smartphones and browser extensions. And since the fraudsters managed to place dodgy advertising scripts on reputational sites which have a trusted relationship with their audiences, many users fell into the trap and provided access to their wallets.

 

Staying Safe

In order to avoid unnecessary phishing attacks, it would be advisable to wait and reconsider joining the metaverse. A congressional investigation of metaverse security and privacy practices will force changes in response to the “inevitable breaches.”

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But the truth is, social media managers, brand advocates, and early NFT speculators will probably ignore this advice as many of them cannot wait to jump into the metaverse. Those who want to join the metaverse right away should ensure that they have enabled multi-factor authentication on their accounts to prevent the easiest type of account takeovers.

In the future, the metaverse could bring its own unique threats that take advantage of the anonymity afforded by the platform. Recently, the “deepfake,” one of the newest types of misinformation attacks that uses a form of artificial intelligence called deep learning to make images of fake events, was deployed during the war in Ukraine to perpetuate a false Ukrainian surrender. Hence, living in the metaverse won’t be as easy and fun as you thought because just like cryptocurrencies, this technology also comes with many risks including phishing attacks.

 

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