

Metaskins Co-Founder David Cummings on the People’s Metaverse

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Metaskins Co-Founder David Cummings said the decentralized metaverse is more promising to creators than centralized projects from major tech companies.
Metaskins Co-Founder: Metaverse not ‘Meta and Intel’
Metaskins Studio Co-Founder David Cummings believes that decentralization is key to the Metaverse reaching its full potential, for creators and users.
Broadly speaking, the Metaverse can refer to the online digital world where people can work, play and socialize. Many people believe the Metaverse already exists in Web2 games like Roblox, Minecraft, and Fortnite.
The Metaverse, of course, is a major developing theme in blockchain. Some predict huge growth in wearable Non-Fungible Tokens (NFTs) in parallel with the rise of the Metaverse. The idea of clothes made of pixels has been around for a long time, for example, in video games. In the blockchain Metaverse, people can explore their preferred fashions with NFT outfits.
Metaskins is one company that’s making waves in the Metaverse. Beyond character skins and wearables, the Metaverse design studio also specializes in Metaverse infrastructure, gaming and events.

At the recent Messari Mainnet event in New York City, BSC News had the opportunity to speak with Cummings to learn more about his thoughts on the Metaverse.
“I've always been very interested in crypto and investing in crypto, etc. Just from watching the younger generation, and even for people my own age, this proved to me that Metaverse would become an important part of the next revolution of the internet and has become such an important part of my life since then. To me, it doesn't seem like it stops here,” Cummings said.
Metaskins has thrown successful Metaverse events, from partnerships like Bare Knuckle Fight Championships to Metaverse casino nights in Decentraland. The company created high-resolution 3D art in The Holy One's NFT collection as well as in The Fetus Apes NFT collection. In addition, Metaskins has helped major legacy companies get on board the Web3 revolution, such as Etro and PUMA.
The Decentralized Metaverse
Major tech companies are competing to stake their claims in the online Metaverse via their centralized platforms. For example, Facebook renamed itself Meta last year, and soon after Microsoft announced that its Teams videoconferencing product would become the workplace Metaverse of choice.
Meanwhile, decentralized Web3 Metaverses are attracting billions of dollars in venture capital.

But, what do decentralized Metaverse projects offer that giants like Meta and Microsoft do not? Cummings said centralized Metaverses constrain creativity and restrict potential earnings.
“Centralized ecosystems require creators to follow their guidelines completely. There are so many different barriers to get around that it ends up being a terrible experience for the creator,” Cummings said. “The first thing you're going to get is probably 12% of the pie. Second, the minute they say this isn't good for their brand or product, you're out.”
Web3 allows users to move digital assets across platforms, Cummings said, which can exponentially increase the value of those assets compared to Web2.
Music NFTs, for example, let listeners own and play music on any platform, making them more valuable. Further, the artist benefits directly from the sale of the NFT.
“You know, if you're part of this decentralized Metaverse ecosystem, everyone wants to support each other's projects and visions because they understand that the work that goes into each initiative and that 100% of its profits go back to the creators,” Cummings said.
Justin Sun, the founder of Tron, described Web3 as "an autonomous creation in which users, if not owners, are beneficiaries."
“So I think there's something really important about building out the decentralized universe. That's the members, and the people. When I think of the Metaverse, I don't think of Meta and Intel,” Cummings said.
What Is Metaskins:
Metaskins is a one-stop shop for Metaverse or Non-Fungible Token (NFT) needs. Based in Colombia, the design studio specializes in personalized digital wearables, custom infrastructure built on Metaverse parcels and brand-tailored Metaverse events.
The company’s work and services includes high-quality Metaverse-ready 3D avatars, digital modeling, marketing, smart contract development, video game development and more.
Metaskins’ partners and clients include Puma, Bare Knuckle Fighting Championship, MMA TV, The Holy Ones NFT collection, Fetus Apes NFT collection, Snarky Sharks NFT, NFtweak, etc.
Where to find Metaskins:
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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Related News


The Memecoin Hype: How Social Media Drives Frenzies and Price Surges

Uncovering the rise of memecoins, their reliance on social media platforms like Reddit and TikTok, and the cautionary factors investors need to consider.
TL;DR:
- Memecoins, cryptocurrencies based on memes, have gained massive attention and generated price surges.
- Social media platforms like Reddit and TikTok are crucial in promoting memecoins and creating frenzies.
- FOMO drives retail investors to rush into memecoins, but they often lack fundamental value and carry high risks.
- While price surges can occur, memecoins are volatile, and investors should approach them with caution, conducting thorough research and diversifying their portfolios.
Memecoins have taken the world by storm, drawing massive attention and generating unprecedented price surges. What sets them apart from traditional cryptocurrencies is their reliance on social media platforms for promotion and the subsequent frenzies they create.
This article explores the memecoin hype and how social media plays a pivotal role in driving these frenzies and price surges.
The Rise of Memecoins
Memecoins, as the name suggests, are cryptocurrencies primarily based on memes or internet culture. They typically gain popularity through viral internet trends and memes, which are shared and spread rapidly across various social media platforms.
One of the earliest and most well-known memecoins is Dogecoin, which started as a joke in 2013 but has since gained a dedicated following and achieved substantial market capitalization.
The Power of Social Media
Social media platforms like Reddit, Facebook, Twitter, and TikTok have been breeding grounds for memecoin hype. These platforms allow users to share ideas, content, and investment tips with a vast audience. When a memecoin catches the attention of influential individuals or gains traction within online communities, it can rapidly snowball into a social media frenzy.
The influence of social media platforms on memecoins cannot be understated. They create an environment where trends can be born and spread rapidly, leading to a surge in demand and subsequent price appreciation.
The Frenzy Begins
When a memecoin gains traction on social media, it often leads to a frenzy among retail investors. FOMO, or the Fear Of Missing Out, kicks in as individuals witness others making substantial gains quickly. As a result, people rush to buy into the memecoin, hoping to ride the wave of hype and turn a quick profit.
This behaviour is not without risks. Memecoins often lack fundamental value and are driven solely by speculative demand. Investors can easily get caught up in the excitement, disregarding traditional investment principles and the potential risks. In contrast, some individuals manage to make significant profits.
Price Surges and Volatility
The frenzies created by social media can lead to massive price surges for memecoins. These price spikes are often irrational and detached from any underlying fundamentals. The combination of high demand, limited supply, and speculative trading can create a perfect storm that drives prices to unprecedented levels.
However, the volatility of memecoins is a double-edged sword. While some investors benefit from the price surges, others suffer significant losses when the bubble eventually bursts. Moreover, the market corrections following such surges can be swift and severe, leaving investors scrambling to exit their positions.
Investing in Memecoins: Proceed with Caution
For those considering investing in memecoins, it's crucial to approach the market with caution and a healthy dose of skepticism. While some individuals have made significant profits during the hype, it's essential to understand the risks and speculative nature of these assets.
Here are a few factors to consider before diving into memecoins:
1. Do Your Research: Before investing in any cryptocurrency, including memecoins, thoroughly research the project, its underlying technology, and the team behind it. Understand the tokenomics and assess the potential long-term value.
2. Be Mindful of Hype: Don't let FOMO drive your investment decisions. Just because a memecoin is gaining attention on social media doesn't guarantee its long-term success or value. Separate genuine potential from mere hype.
3. Diversify Your Portfolio: Investing solely in memecoins is highly risky. Instead, diversify your investment portfolio by including established cryptocurrencies with solid fundamentals and other traditional assets.
4. Set Realistic Expectations: Memecoins can experience extreme volatility, so it's essential to set realistic expectations and not invest more than you can afford to lose. Avoid investing your life savings or funds meant for essential expenses.
5. Stay Informed: Keep up with the latest news, market trends, and regulatory developments. Then, stay vigilant and be prepared to adapt your investment strategy accordingly.
Conclusion
The memecoin hype driven by social media has undeniably captured the attention of the cryptocurrency world. These assets, often born out of internet culture and viral trends, have witnessed meteoric price rises, creating excitement and concerns. However, while the social media-driven frenzy can offer opportunities for profits, it also carries significant risks and ethical implications.
Investors must exercise caution, conduct thorough research, and approach memecoins with a level-headed mindset. The memecoin phenomenon serves as a reminder that, in the rapidly evolving landscape of cryptocurrencies, critical thinking and due diligence are paramount to navigating the market's ever-changing tides.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.
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