The Bitbuy Brief: Logan Paul and Winklevoss Twins Invest in Metaphysic

Issue #169: Logan Paul and Winklevoss Twins Become Investors in Metaverse Startup

January 27th, 2022

Weekly Market Recap

With a big drop in Bitcoin’s price, Friday brought pain to many HODLer’s.

Come Monday, Bitcoin started to rally again. Ripping upwards by 13% at one point.

Yesterday, we caught one nasty 4H candle producing a -6% decrease in Bitcoin’s price. It all happened right around the time of the FOMC announcements.

And now, we’re keeping an eye for a break down from the $41K CAD support level or a break up from the $49K CAD resistance level.

No other coin on Bitbuy was immune from the declines. Especially LINK which saw a whopping 45% decrease.

As always, if you’re looking to trade the latest market moves, click here to access your account.

Crypto in The News

Bitcoin dropped about 50% from its all-time high—but experts warn ‘downturns like this are normal’ – CNBC

Two-thirds of Americans believe cryptocurrencies will be widely accepted within 5 years – ZDNet

Our account had less than $1’: This couple made nearly $120,000 in under 6 hours selling NFTs to save their home from foreclosure – CNBC

The metaverse is just getting started: Here’s what you need to know – CNET

Ethereum shifts away from ETH 2.0 – FXStreet

Logan Paul and Winklevoss Twins Investing in Metaverse Startup Metaphysic

Tom Cruise Holding Coin
Image source: Chris Umé

Do you remember seeing those Tom Cruise videos all over social media last year, only to discover it wasn’t Tom Cruise in them at all?

What you viewed is widely referred to as a “deepfake.” For those that have never heard of that term, here is the Oxford dictionary definition…

Deepfake (noun): A video of a person in which their face or body has been digitally altered so that they appear to be someone else, typically used maliciously or to spread false information.

Those deepfake videos were created by Belgian visual effects specialist, Chris Umé and the publicity generated (both positive and negative) resulted in the launch of his artificial-intelligence startup, Metaphysic.

Metaphysic’s plan is to use their technology for good (and not evil) by “ethically” assisting businesses generate hyper-realistic content for everything from marketing campaigns to virtual workspaces in the metaverse. Up until now, most metaverse content looks like it was created for the Nintendo 64. Metaphysic plans to change all of that.

“The hyper-real part is really important to us,” explains Metaphysic co-founder Tony Graham. “Just like the deep Tom Cruise thing — where it’s very difficult to tell the difference between whether it’s really Tom Cruise or not Tom Cruise — things become particularly interesting when you can create content where it was filmed like on a traditional camera, but in fact no cameras were involved. Your creative possibilities, what you can do there, really explode.”

Investors agree with Graham. YouTube star Logan Paul and the Winklevoss twins’ venture capital firm are among a group investing $7.5 million US in the tech startup.

Metaphysic plans to use the raise to finance the development of its technology for use by metaverse platforms to create a “hyper-real synthetic likeness” of users, Graham said, “not like funny avatars”.

“Regular people don’t have a huge amount of time on their hands to create highly-curated professional content or make their own best robot avatar,” he explains. “We think the future will be like, you go into the online Gucci store and try on a jacket with your real face, looking as it would look like on your body.”

10 Debunked Myths About Cryptocurrencies

10 Debunked Myths About Cryptocurrencies
Image source: Bitbuy

While the crypto market is down, the embedded crypto FUD in the mainstream narrative is up. Unfortunately, few understand the tech or the societal change it could very well usher in. Even though the internet is stacked with knowledge for the willing, most tend to rely on the prevalent current cultural memes.

In this article, we debunk those misconceptions and attempt to alleviate any concerns potential crypto investors may have.

Read The Full Article Here

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