RACA and USM are forging collaborations with DeFi projects

The Bank for International Settlements (BIS) recently came out with a statement that spoke of the upsetting abilities of metaverse platforms like USM in the financial space.

USM is the core metaverse on the BNB Chain, having more than 1 million users and a large number of monthly users. To date, it is considered one of the prime players in the open metaverse in the crypto arena.

As per the expert at BIS, inclination towards the metaverse increased in 2021, in sync with the rebranding of Facebook to Meta. This is when USM came into the limelight. Presently, the technology seems to have lost some of its sheen and is not a must for many businesses.

On the other hand, BIS believes that undermining the metaverse’s capabilities at this juncture is premature. A connection to the physical world and an increasing propensity for platforms such as USM to advocate for the revival of the metaverse are inseparable.

Added to that, in their observation, BIS strongly feels that areas like gaming, e-commerce, education, and healthcare are ever-increasing in the metaverse, soon to turn into a trillion-dollar market by the decade-end. This is the reason why USM and RACA are forging collaborations with DeFi projects and educational bodies globally. 

The observation separates centralized and decentralized metaverse platforms, with a precautionary note that the centralized platforms could offer only the concept of decentralization. In terms of decentralized platforms like USM, they may embrace the varied digital space. 

From the viewpoint of BIS, the metaverse has the potential to alter the international economy, resulting in deterritorialized prices and furthering global geographic incorporation. They also mention a regulation requirement to safeguard against market breakups and takeovers by private businesses. 

RACA has the backing of DWF Labs, OKX Blockdream Ventures, and the Tachyon accelerator by Consensys Mesh. It plays the role of a Web3 framework service provider. It was initially introduced with the Maye Musk NFT as a bidding token, but it has since developed into a robust Web3 gaming ecosystem.  

RACA, the USM conventional token, acts as a Crypto ‘dApp Store’ for AI applications and games, started by Elon Musk’s Mother & Koda NFT community.

Trevor Holman

Trevor Holman follows crypto industry since 2011. He joined CryptoNewsZ as a news writer and he provides technical analysis pieces and current market data. He is also an avid trader. In his free time, he loves to explore unexplored places.

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