🚀 Metaverse Soon to The Moon

GM Switcher!

👋 Welcome to Switch Daily.

Wassup? Markets falling? Yeah, we talk about it every day. So, let’s talk good news today.

How about this? Your favorite crypto exchange CoinSwitch is now recognized as one of the most promising brands in India alongside Groww, Rapido, etc. by The Economic Times. Well, that’s just us. We got more exciting stuff coming up for you.

Here’s what we’ve got for you:

• Market pulse

• What’s happening in the metaverse?

• Crispy news

• Meme of the day

Market pulse 📈

The market is like a dull dud 😶

The crypto market’s slow streak is still on with prices remaining stagnant. Currently, the global crypto market cap stands at $941.7 billion, registering a 1% increase in the last 24 hours. Bitcoin’s market dominance maintained its superior status at 39.8%, indicating a rather small increase of just 0.08% over the day.

According to Tradingview, ETH/BTC ratio was down by almost 20% since September 8 (pre-Merge), which means the crypto market continues to remain in the bear phase.

🎊The Great Indian Metaverse🎊

India’s metaverse scene is super lit this week.🔥When we say lit, we mean as lit as the Dussehra scenes in Mysore city. Here’s a glimpse👇🏽.

Alrighty, coming back to the metaverse talking about the metaverse, here’s what’s happening:

Bollywood lands on the Metaverse: Media and entertainment company Shemaroo has launched a movie theatre in the metaverse. The ‘Shemaroo theatre’ is set up on Decentraland.

The idea is to take Bollywood to a bigger global stage. They’ve even arranged to sell digital popcorn and drinks like in an IRL cinema. Just not as expensive, we hope. 🙈

Lehengas go gaga on Fashionverse: Forget online shopping. You can now pick festive fashion on the metaverse. Yesterday, an Indian fashion designer, Shubhika Sharma, successfully displayed her fashion creation in the metaverse.

Of course, countless other fashion brands have already tried their hands at NFTs, but none have set foot on the metaverse yet. Her brand ‘Papa Don't Preach’ is the first Indian fashion label to display its collection in the metaverse.

Durga puja in Decentraland: Come on! We’re not joking. Some folks took celebrations to the next level and arranged for Kolkata’s Durga puja festivities on the metaverse.

Metaform and XP&DLand, joined hands with the Puja committees to get the famous Durga Pujo on MetaPujo, allowing anyone from any corner of the world to seek the deity’s blessings. And guess what you get as prasad here? An NFT, bruh.😎

We visited these metaverses to check out the Indian Metaverse scene. And honestly, between us, the UI/UX is a bit cringe. .

But know what? Over $120 billion has been invested into metaverse tech in the first five months of 2022, according to a McKinsey report. That’s more than twice the money that went into it in 2021. “Our bottom-up view of consumer and enterprise use cases suggests it could generate up to $5 trillion in impact by 2030—about the size of Japan’s economy, the world’s third-largest,” says Eric Hazan of McKinsey.

So, this isn’t the final feat; the metaverse scene is just starting. And with the new 5G technology launched yesterday, we could expect a life-like metaverse experience very soon.

Aur Kya? 💁

🏧Bitcoin ATM installation drops

Bitcoin ATMs have emerged as the latest victim of the ongoing crypto bear market. The number of Bitcoin ATMs installed globally fell by 797 in September. It is the first time that a drop in this scale has been seen. Read more. 

🎮 Flip launches NFT game for bear-hit traders

Trading platform Flip’s latest venture is meant to cheer NFT traders who lost real money amid the crypto market’s downturn. Traders can now bet fake money on JPEGs via a fantasy sports-like game created by Flip. Read more. 

💲Rich Dad Poor Dad author predicts US dollar crash

As the US Federal Reserve continues to raise interest rates, the famous American author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki, has come out in support of Bitcoin, calling it one of the investments to buy. To be sure, he’s been saying this for a while now. Read more.

🥷Transit Swap loses $23M to hackers but subsequently recovers 70% of it

In another case of hacking in the crypto market, Transit Swap, a cross-chain swap aggregator platform, lost roughly $23 million. But, the quick response of several blockchain security companies helped facilitate the subsequent return of around 70% of the amount. Read more.

Memewhile ideas like these 🙆…

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We’re off to celebrate Dusshera tomorrow.

So, Happy Dusshera and see you on Thursday, folks. 👋

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