What Could the Change of Facebook’s Name to Meta Mean for the Cryptocurrency World?

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Facebook already has a cryptocurrency, Libra, and everybody was looking forward to it. However, the multi-billion social media site changed the name to Diem and halted its development for a while. It was only a matter of time before the collective name “Meta.” Therefore, what could the change of Facebook’s name to Meta mean for the cryptocurrency world?

Effect of Meta on the Cryptocurrency Industry

Creation of a Metaverse


There has always been fear of the Metaverse in the technological community. Even though many people look forward to it, they also dread it. The movies “The Matrix” and “Divergent” created a skeptical view of the Metaverse, and instilled a fear in people that technology might control human beings. However, the case is not true, as seen in how the technology is progressing.  

Meta has a metaverse division responsible for creating the metaverse. Many gaming cryptocurrencies have metaverses that simulate real-world environments and interactions. Facebook will most likely attempt to unite four of its “meta” sites using a Metaverse by creating an interactive universe. 

Pumping of crypto tokens with a Metaverse

The Metaverse division will have a great impact on already existing cryptocurrencies, such as Realm, Sandbox, and Axie Infinity. Facebook is set to invest $10 billion towards the metaverse division. When a big company begins looking into the metaverse niche, it means that the already pre-existing ones are of value. 

Therefore, these gaming coins will experience exponential price gains. The metaverse might emulate Realm or Axie Infinity games, hence a rise in the coins. It might also grow into the absorption of these games into its space just like Facebook did by absorbing Instagram and Whatsapp. For example, Decentralanda (MANA) is a gaming cryptocurrency with a metaverse that is already leading the pump with a 300% increase within the past week. 

Acceptance of cryptocurrency

“Meta” will lead to acceptance and wide use of cryptocurrencies. The birth of the crypto coin will lead many people to cryptocurrency, including top investment firms. Even the SEC will consider the cryptocurrency community and help stabilize the currency markets. It will also lead to the creation of more cryptocurrency ETFs. The metaverse division might adopt the use of bluechip coins such as Ethereum and Bitcoin as currencies, for a start.  As a result, the cryptocurrency industry will become more mainstream. 

Digital Art

Facebook aims to use different creators for digital art  (NFTs) creation. Meta aims to diversify using new cryptocurrency technologies.As of now, Meta has many users and offers a platform for conducting business, networking, and marketing at low data costs. Hence, it will only lead to an increase in the number of cryptocurrency users. The prices of NFTs will also pump and Meta wil help draw many artists into the crypto space, thereby increasing acceptance and usage. 

What could the change of Facebook’s name to Meta mean for the cryptocurrency world?

Facebook changing its name to Meta will positively affect the crypto space. Meta NFTs, increase in the number of cryptocurrency users, creation of a meta crypto coin, and a metaverse are some of the few impacts Meta will have in the crypto community. Meta is a sleeping giant waiting to influence the cryptocurrency community, it is  only a matter of time,