What Is The Metaverse And Its Future? What Are The Best Possible Ways Of Investing In Metaverse
The term “metaverse” has gained significant traction over the past year, largely thanks to Facebook’s announcement in October last year that it would change its name to Meta and spend at least $10 billion on related technologies.
The phrase “metaverse” first appeared in the 1992 book Snow Crash, in which characters use the Metaverse as a haven from a dystopian world. However, it wasn’t until recently that technological advancements allowed the Metaverse to move beyond science fiction and into the realm of possibility.
In this article, we will discuss what Metaverse is, its future, and possible ways of investing in Metaverse.
What is Metaverse?
The Metaverse is a collective virtual shared space created by the convergence of virtually enhanced physical reality and physically persistent virtual space, including the sum of all virtual worlds, augmented reality, and the internet. The word “meta” in this context means “beyond,” so it’s something that goes beyond our current reality.
The definition of what constitutes “reality” in this context has also been debated; some would say that this would include any digital world or system accessed with an internet connection. Of course, the vision for the Metaverse has changed with time and technology, but these days it most commonly refers to an ecosystem of shared virtual worlds with rules similar to those of our world.
Additionally, virtual worlds in the Metaverse should be persistent, meaning they should continue to exist even if users log in or out, unlike Zoom meetings or video calls that end as soon as the last person leaves the room. Future adjustments to these shared worlds might also stick around and give users a more lived-in and realistic experience.
Why Should You Put Money Into Metaverse?
The association with blockchain and cryptocurrency is the first reason to consider Metaverse’s potential as an investment platform. Smart contracts and NFTs are critical components of the Metaverse because they are required to purchase and exchange goods between different virtual spaces in the Metaverse. Bloomberg Intelligence recently estimated that the metaverse market will be worth USD 800 billion by 2024, indicating that this could be a lucrative investment.
Possible Ways to Invest in Metaverse
Investing in the Metaverse is a way to ensure that you are part of this new era and reap its benefits. Investing in this technology can be done in many ways. Let’s discuss some of the ways.
1. Buy Metaverse Tokens
The Metaverse is not just an idea; it already has a functional blockchain with smart contract functionality, so you can use its token to invest in the Metaverse.
The Metaverse team has developed a digital asset system that enables users to digitize any real-world asset (including money) into a virtual object (a token) on the blockchain. You can buy these tokens on exchanges like Binance or Huobi or from other users through P2P transactions on the Metaverse blockchain.
Since they are the primary means of exchange in the Metaverse, metaverse tokens can provide investors with the ideal means of making investments there. As the Metaverse grows in popularity, the value of metaverse tokens will undoubtedly rise. However, the value of metaverse tokens, like that of cryptocurrencies, fluctuates. As a result, metaverse investors must accept the risk of price volatility by purchasing metaverse tokens as an investment opportunity.
2. Buy Metaverse Stocks
Buying metaverse stocks is one-way investors interested in the Metaverse can invest in it. Metaverse stocks are publicly traded shares of companies involved in the development of the Metaverse. If you want to invest in the Metaverse, Facebook (FB) is an excellent example of a company whose stock you can purchase. Mark Zuckerberg, Facebook’s CEO, has even stated that he does not want the business to be known as a social media company. Instead, he would rather it be known as a company for the Metaverse.
3. Buy virtual land or in-game NFTs
Purchasing in-game NFTs or virtual land is considered an investment that can generate a profit. The demand and supply determine the prices of these items. If you buy more of these items, the price will go up.
You must first create an account to buy NFTs and virtual land from the metaverse marketplace. For instance, Decentraland is a great place to buy virtual land; Sandbox can buy or sell NFT artwork, and Axie Infinity can buy or sell NFT characters and virtual land parcels.
However, investing in the Metaverse through NFTs and virtual land has some serious consequences. Non-fungible tokens do not have a fixed price and may vary depending on factors such as rarity. However, buying NFTs or virtual land parcels through the primary and secondary NFT marketplaces has distinct benefits and drawbacks.
Future of Metaverse
The future of Metaverse is still in question. However, if we look at recent studies, it is predicted that VR will be a crucial technology in the future.
Researchers have come up with different ideas on what to do with Metaverse. One of them is to use VR for educational purposes. This way, students can learn about things they cannot experience in real life without leaving the classroom. The other idea is to use it to help people who cannot leave their homes due to illness or disability. For example, one study has shown that patients who used VR headsets could reduce their pain levels by 17%.
Metaverse has many potential uses and will undoubtedly play an essential role in our lives in the future. Usually, The future of the Metaverse will be shaped by the following three trends:
- Augmented reality and virtual reality will merge into a new form of mixed reality.
- The internet of things will become the internet of everything.
- The rise in artificial intelligence and machine learning will transform our everyday lives.
In conclusion, the Metaverse is a world of virtual reality. It is an augmented reality that the digital world has created. This world will be a place where people can interact with each other and share their ideas and thoughts. I hope this article has given you enough information about the Metaverse and how you can invest in it.