Metaverse is no more just an idea, it’s becoming a reality. In a giant leap towards the legitimization of the Metaverse, Barbados announced that the island nation is planning to open a Metaverse embassy.
Through an agreement signed with Decentraland, Barbados aims to establish a digital embassy. According to a report published by CoinDesk, the government of Barbados is also finalizing partnerships with several leading Metaverse platforms.
Metaverse embassy is not the only target of Barbados, the nation is also planning to purchase lands in a broad range of virtual worlds. “The idea is not to pick a winner – the metaverse is still very young and new, and we want to make sure what we build is transferable across the meta worlds,” Barbados’ ambassador to the United Arab Emirates, Gabriel Abed, said in an interview with CoinDesk.
The concept of Metaverse is gaining popularity among crypto-friendly nations. Barbados is gradually becoming a crypto hub in the region. While the minor details of the recent digital embassy were not disclosed, the country’s presence in the Metaverse would be important for the overall adoption of the virtual world.
Metaverse and Crypto World
Abed remained vocal about the importance of cryptocurrencies and virtual worlds in today’s society. According to him, Barbados has adopted a digital approach to accept crypto assets and Metaverse. “With the release of the embassy, tentatively scheduled for January, Barbados will become the first country in the world to recognize digital sovereign land. The Ministry of Foreign Affairs, The Ministry of Science and Technology, and many other governmental bodies reviewed the plans over “several, several months,” Abed said.
Apart from Barbados, several other nations are entering the crypto world. El Salvador, a country in Central America, accepted Bitcoin as a legal tender in the country during September 2021. El Salvador is also holding the digital asset. During October’s crypto correction, El Salvador expanded its BTC portfolio with the addition of 420 Bitcoin.
Source: Read Full Article
Abra Wallet Introduces Bitcoin Investment Option for Stocks and ETFs
Omniex Gets Help from SIX Group to Boost Its Crypto Services | Live Bitcoin News
Bitcoin Cash Price Analysis BCH / USD: Bull Trigger
$10B asset manager registers new Bitcoin fund with SEC
Origin Dollar compensation plan marks progressing maturation of DeFi space