28New York is Becoming a World Crypto Center

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New York is Becoming a World Crypto Center

The Bitcoin industry is taking up office space in New York City as it strives to stake a claim in the Big Apple as a long-term player. In December, Andreessen Horowitz, one of the largest venture capital firms in the world, signed a long-term lease at 200 Lafayette Street for 33,560 square feet for its $3.1 billion crypto fund.

Several crypto businesses, including Coinbase, established their first NYC offices, including Chainalysis, which leased more than 77k square feet at 114 Fifth Avenue; Blocktech, which leased at 55 Wall Street; Cipher Mining, which leased at One Vanderbilt; Arca, a digital asset management company, which leased at 75 Rockefeller Plaza; and Coinbase, which leased 30,000 square feet at 55 Hudson Yards in June of 2021. Current Real Estate Advisors co-founder Brandon Charnas brokered the deal with Andreeson and other crypto companies. "Many of our portfolio companies are opening up offices in New York that are based on NFT, Web3, and blockchain."

Blockchain companies are filling up New York City's office space to establish a longterm presence in the Big Apple. One of the major reasons crypto firms set up shop in NYC: to attract the best employees. According to Charnas, events, as well as office space, are being sought by companies to recruit top engineers. "How better to compete for those engineers than to give them a space that represents the brand, that represents the company, and that says more than just a place to work, it shows the company's ethos," he said. He says that office space firms increasingly need to woo investors to raise more money to invest in new crypto companies and sign their own deals. He said, "Let's not just have an office for ourselves. It should contain an event space and an incubator for entrepreneurs. That's what will make us competitive."

Chainalysis is among the crypto firms setting up shop in New York that aim to take advantage of the city's talent and develop it as a new center of crypto activity. In an email to Yahoo Finance, Chainalysis CEO Michael Gronager said, "New York is the logical home for cryptocurrency businesses." Chainalysis plans to tap into the city's deep talent pool as it grows.

Mayor Eric Adams pledged to make New York the epicenter for crypto in an effort to attract talent, create jobs, and boost the economy, as New York competes with Miami for start-ups, venture firms, and crypto

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exchanges. Adams' positive rhetoric about crypto and similar comments from other local politicians are boosting confidence in the business community and luring crypto companies, Charnas noted.

"The New York City area is the historical epicenter of finance in the U.S., which has naturally adapted to crypto, so investing in our office space here will provide long-term benefits for our company," said Hisham Elhaddad, managing partner of HOF Capital, which invests in blockchain technology companies.

According to data provider CB Insights, NYC attracted $6.5 billion in total funding for crypto companies last year, putting it first among U.S. cities with nearly half of the country's total funding for crypto companies. As Charnas said, “Crypto firms aren't just testing the waters, they're looking to create a long-term footprint.” In his talk, Charnas expanded, "Let's not just sign a short-term lease; let's sign a 10-year lease in New York City." He continued,

"That, coupled with the rhetoric from the local government, means New York City is big and will be a center for these business types."

Additionally, it's a bright spot for New York's office market, battered by the pandemic. It is estimated that the availability rate for the market rose to 18.5% in the first quarter from 18.1% in the fourth quarter, according to global commercial real estate company Avison Young.

"In addition to investment firms long on prime office space, new industries and businesses servicing crypto - such as the media and banking - are also creating demand," Charnas explained. A number of companies are also exploring ways to pay their leases using crypto and offering new ways to participate in the upside they see when valuations soar. According to Charnas, landlords are offering tenants Bitcoins as rent per month. Additionally, he said sophisticated landlords are speaking with crypto firms and investors who are interested in learning about the valuation and economics of potential tenants. "They're the new tenants leasing office space, and they're staying."

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Educate Yourself to Make Money with the Metaverse

According to a study by job search engine Adzuna, job opportunities in the Metaverse continue to grow. Since October 2021, job listings on the platform have increased by 379%. Metaverse-based jobs are available to professionals ranging from engineers to architects to marketers and creatives. A person may need specialized training beyond their professional degree and credentials to land the job.

To do business in the Metaverse, you need to learn the basics. Specialized platforms and tools may be required to create virtual environments in the Metaverse. You may want to study cryptocurrency since it has become the preferred currency in the Metaverse.

Entrepreneurs, professionals, and would-be Metaverse workers can take advantage of some of Forbes' most popular free courses to stay current on evolving technology. Udemy, Coursera, and other online education platforms offer many of the courses for free or at a very low price.

Courses on the Metaverse from Udemy

In addition to courses on Metaverse environments, real estate investing, and NFTs, Udemy offers masterclasses on Metaverse operation. Following are some of our top picks based on their low price, high ratings, and broad curriculum:

ƒ Metaverse Master Course from A to Z by

Ibozi Training. ƒ Navdeep Yadav's course on the

Metaverse: Everything you need to know about AR, VR, and NFTs.

ƒ Blockchain, cryptography, and NFTs:

Metaverse Fundamentals, edited by

Joan Amengual and George Levy. ƒ By Henrique Centieiro, the Metaverse

Masterclass teaches everything there is to know about the Metaverse.

ƒ This is a full guide, walkthrough, and tutorial on Metaverse Platforms - 2022, prepared by Learning Hub. ƒ Terry Winters, Virtual Real Estate

Investing in the Metaverse.

Coursera Courses on the Metaverse

Coursera doesn't have many Metaversespecific courses, but it does offer courses on adjacent skillsets - including digital design, virtual reality, and augmented reality. Most of the courses are produced by accredited universities, and students receive certificates upon completion.

Here are a few of the best options.

ƒ Digital Fashion Innovation Specialization, by Sean Chiles and Leslie Holden. ƒ Virtual Reality Specialization, by Dr.

Sylvia Xueni Pan and Professor Marco

Gillies.

ƒ SkillShare Courses on the Metaverse

ƒ SkillShare offers a wide range of courses

(for both beginners and advanced students) on topics related to NFTs, crypto investing, and Metaverse basics. ƒ Developing Metaverse: Create your first VR app in Unreal Engine, by Dmitry

Vasilyev. ƒ Introduction to the Metaverse & How to

Invest In It, by Ali Matar. ƒ Metaverse Fundamentals: The Complete

Metaverse Course, by Dan Dan. ƒ Web3 Crash Course, by Josh Snow.

How to Choose the Right Metaverse Courses

When you're picking a class or two concerning the Metaverse, you'll want to look at the ratings for each class and decide if the class is within your budget.

Take a look at the class level — does it match your understanding of the Metaverse right now, meeting you where you are at and allowing you to enhance your knowledge? You also want to consider the overall time commitment. You can opt for high-value courses that deliver many hours of education for a low price. By contrast, you may want a faster class that you can complete over just a few days if you are pressed for time.

After you learn the basics with online courses, you can attend classes about the Metaverse within the Metaverse. The eLearning industry - along with gaming, retail, and real estate - stands to benefit from Metaverse capabilities soon.