Bitcoin, Ether plummet; Meta starts testing tools for Metaverse; Rappi accepts crypto payments — Crypto Moves

RIYADH: Bitcoin, the leading cryptocurrency internationally, traded lower on Tuesday, down 5.13 percent to $40,114 as of 09:00 a.m. Riyadh time.

Ether, the second most traded cryptocurrency, was priced at $3,010, down 5.36 percent, according to data from Coindesk.

Meta starts testing tools for Metaverse

Facebook owner Meta Platforms FB.O is beginning to test tools for selling digital assets and experiences within its virtual reality platform Horizon Worlds, a key part of its plan for creating a metaverse, it said on Monday.

The tools will be available initially to a handpicked set of users who are creating virtual classes, games and fashion accessories within the company’s immersive platform, which is accessible via VR headsets, Meta said in a statement.

Using one tool, those select users will be able to sell their accessories or offer paid access to specialized digital spaces they have built, the company said.

The social media giant is also testing out a “creator bonus” program for a small set of Horizon Worlds users in the US, through which it will pay participants each month for using new features the company launches.

“We want there to just be tons of awesome worlds, and in order for that to happen, there needs to be a lot of creators who can support themselves and make this their job,” Chief Executive Mark Zuckerberg said in a conversation with early adopters, held inside Horizon Worlds using avatars.

Dark personality traits affect Bitcoin enthusiasm, research says

Meanwhile, new research carried out by experts at Queensland University has suggested that cryptocurrencies are more likely to woo people with dark personality traits. 

“First, the high risks and high potential returns of crypto trading make it attractive to the kind of people who like gambling. Second, cryptocurrencies are not issued or backed by governments like traditional or “fiat” currencies. This makes them attractive to people who distrust government,” wrote the researchers in an article published in The Conversation. 

“A common reason to invest in crypto is the hope of earning high returns. Beyond the desire to build wealth, our research shows dark personality traits also drive crypto buying,” researchers added. 

Delivery app Rappi begins accepting cryptocurrency

Colombian delivery app Rappi, which offers on-demand deliveries of food and other goods across Latin America, has launched a cryptocurrency payment pilot program in Mexico.

Rappi has teamed with cryptocurrency platforms Bitpay and Bitso to back the new service, which will let users turn crypto into credits within the app to make purchases, Rappi said.

“It’s a first step that will allow us to learn and continue incorporating the crypto world into Rappi,” Rappi President Sebastian Mejia said in a statement.

(With inputs from Reuters)