How will the Metaverse redefine our way of life?

Can the virtual land you buy now be monetized in the future?

Last year, Travis Scott made more than 20 million U.S. dollars from virtual concerts on Epic Game’s Fornite platform. Then in the past few months, a piece of virtual real estate was sold on Decentraland for less than $1 million. Although these events prove that concepts similar to the meta-universe can already make a lot of money, compared with the business opportunities that the real meta-universe will bring, this is only the tip of the iceberg.

Mark Zuckerberg is very aware of the potential of Metaverse and plans to switch Facebook from social media to Metaverse.

This article aims to focus on some of the commercial potential and applications of Metaverse.

The meta universe is a collective virtual shared space, created by the fusion of virtual augmented physical reality and physical persistent virtual space, including the sum of all virtual worlds, augmented reality, and the Internet. – -Wikipedia

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Although Travis Scott’s 9-minute performance attracted 12 million viewers and it was impressive, Fornite lacked at least two key elements of Metaverse, which prevented their event from entering the mainstream view.

First of all, although Fortnite’s images are not shabby, they are far from realistic. And I believe that realistic or near-realistic images are essential for the widespread adoption of virtual events in Metaverses in the future. Second, in Fortnite, the number of people who can share the same virtual space or “instance” is limited to 100. Since real-world concerts and music can save tens of thousands to hundreds of thousands in one place, this means that Fornite shows lack the core element of such events: a musical experience shared with thousands of like-minded souls.

But graphics are advancing by leaps and bounds, and projects such as Dual Universe are solving problems that previously prevented a large number of concurrent players. Therefore, there should be no serious problems in covering these bases with the meta-universe project starting now, which means that in virtual reality, you will be able to experience the pure pleasure of collective experience with people from all over the world.

However, events are not limited to music; I can foresee future movie premieres, virtual sports events, and role-playing events such as Comicon. All these events will have a way to monetize, from renting virtual property to event organizers, to ticket sales and physical and virtual event merchandise.

Then, you have virtual business meetings, exhibitions, and work gatherings, so that colleagues and business partners from all over the world can develop new ideas and make deals together, all without leaving home.

Sell ​​virtual property

How will the Metaverse redefine our way of life?

Although Decentraland has the most popular virtual land sales platform so far, they are by no means the only platform for virtual real estate investors.

Sandbox’s LAND plot tiles sell for approximately US$600 to US$800 on the Opensea market. However, as The Sandbox regularly conducts new direct sales of LAND and will continue to do so throughout 2021, current prices may be suppressed.

However, according to the definition of Wikipedia, neither Sandbox nor Decentraland is a true “meta universe” because they cannot have a large number of concurrent users in one place. In my opinion, they lack the images needed to become mainstream.

However, there is one project that is more ambitious than any project I have seen so far, and aims to integrate all the features of the true Metaverse: Earth 2. Although it is in the early stages of development, its ambitious vision has prompted the purchase of virtual land to reach US$65,000.

With the meta-universe industry still a novelty, how much can virtual land be sold in the future?

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How will the Metaverse redefine our way of life?

Screenshots of ads in Decentraland

Although the billboards and pop-up ads you see in current virtual projects are not entirely groundbreaking, they may appear in science fiction in the future.

In VR and augmented reality, animated advertising holograms can be arranged on the streets of high-traffic areas, and advertisements can be tailored to your specific needs and needs.

When you shuttle between different locations, delivering load ads may bring you into a few seconds of interactive advertising experience, similar to how page load ads let you watch or view ads between pages on a website.

VR experience can take product placement to a whole new level.

I expect that the meta-universe advertising industry will be at least as big as the current online industry. The person in the best position will be paid high fees by the brand seeking exposure.

Blockchain

How will the Metaverse redefine our way of life?

Both Decentraland and The Sandbox are inseparable from the blockchain. The property sector is an irreplaceable token or their own cryptocurrency. Users can vote on the development direction of the platform by mortgage tokens. Blockchain elements provide users with a safe and reliable platform. And because voting in DAOs (Decentralized Autonomous Organizations) requires cryptographic collateral, this provides further value for tokens and provides holders with additional investment opportunities.

However, this is just the beginning of what can and should be done with blockchain in the Metaverse and Metaverse-esque projects.

Just as finance is used to lubricate the wheels of the economy in the real world, I believe that the financial system is essential to the expansion and efficiency of the virtual economy. For these beautiful new worlds, what better financial system is there than decentralized finance?

Most real-world entrepreneurs have more business dreams than they spend in the bank, and so do virtual entrepreneurs. If you don’t have the money to buy virtual real estate, you can get a virtual mortgage in the future. Or, if you don’t have the resources to invest in construction on your virtual plot, you can use a virtual loan that uses your plot as collateral.

DeFi will not only enable companies to establish and develop faster, but also provide investors with cryptocurrencies in mortgage and loan pools to make profits through interest payments.

retail

How will the Metaverse redefine our way of life?

Since the birth of the World Wide Web, e-commerce has become a business worth nearly 5 trillion U.S. dollars. However, although sometimes online shopping is fun, online shopping is a lonely thing, and purchased items (such as clothes) are often returned because they don’t fit or look different from what you think. Ever wondered if you could combine the benefits of online shopping with real-world shopping?

In VR, you can shop with friends who live on the other side of the world from the comfort of your home. Not only that, you can also try on clothes with super-realistic avatars before buying and provide your exact size. No need to go to the post office to return 90% of the goods.

Although the feel and smell may be limited for a period of time, until we have made enough progress in Haptic and Neuralink style technology, you can still get a more enjoyable book buying experience in the virtual bookstore, the design feel of the virtual bookstore It’s like the bookstore in “The Never Ending Story”.

The options for enhancing the retail experience in Metaverse are endless. If VR retail detonates in a manner similar to the online version, it will be a big business. But the premise is that you have the VR space or land to use it.

Internet products and services

How will the Metaverse redefine our way of life?

Regardless of the success or failure of the Meta Universe project, certain interconnected products will inevitably become the big winners of the Meta Universe in the future. With this in mind, other related diversified investment portfolios invested by the Meta Universe project may be worth considering.

1. Game Engine

The most famous engine in Unreal Engine is owned by Epic, but unfortunately, Epic is a private company and therefore unable to invest. However, Unity, the second most famous engine being used by Earth 2, is public. Any Metaverse created using the Unity engine must pay Unity to use the engine, so if the Metaverse project is successful, shareholders can reap the rewards for many years to come.

2. Graphics card

Nvidia not only wants to become the creator of Metaverse, but their graphics cards are likely to be very popular with Metaverse users. Imagine that blockchain enthusiasts and gamers have seen a surge in demand for graphics cards, and crypto miners buy them to mint new cryptocurrencies. If Metaverses is as popular as Facebook, how much demand will it soar?

3. Game console

The console may be the preferred way for many users to access Metaverse. Sony’s Playstation is currently the most popular on the market. In addition, Sony’s US$200 million investment in Epic means that Sony’s investment is an indirect investment in Unreal Engine and any Epic meta-universe project. In any case, game consoles have indeed become more and more popular.

4.VR hardware

As reported in the news in recent days, Zuckerberg is turning Facebook into a Metaverse…

Although I hope that Facebook will not succeed due to the potential dystopian consequences, they already have the most popular VR headset brand Oculus. Therefore, investing in the future of VR in terms of hardware means either investing in Facebook or the creator of the second most popular headset HTC.

5.3D artists, 3D architects and content creators

Since the World Wide Web requires web developers, designers, and content creators to build the online world we have today, Metaverses will need 3D artists, 3D architects, game developers, and content creators to make Metaverses worth exploring.

The people and brands who set up stores in Metaverse will place their businesses anywhere from futuristic skyscrapers to ancient Egyptian pyramids. But most people do not have the skills to create these structures themselves, so they need to hire people with these skills.

Therefore, many jobs may be transferred to AI or outsourced to cheaper countries/regions, so 3D skills may provide you with future-oriented career opportunities.

How will the Metaverse redefine our way of life?

Should you invest in Meta universe?

I am not a financial consultant, so I cannot tell you where to put your money. Any financial consultant will tell you very correctly that investing in such a new industry is risky.

As with any other new industry, it is impossible to predict which projects will succeed and fail. Even if there is a dominant project, it is important to remember what happened to Myspace when Facebook appeared. The same situation may also occur in the Metaverse industry.

However, from the tech predictor Ray Kurzweil to Facebook’s Zuckerberg, people have predicted that Metaverses is coming, and this kind of technology seems inevitable in some form.

Therefore, whether you are looking for passive investment, future business opportunities, or looking for a future-oriented career, the metaverse industry is an industry you need to pay attention to.

Personally, I invested in virtual land on the Earth 2 platform because its vision is consistent with how I can see myself, friends and family using Metaverse in the future. However, for the sake of safety, I will diversify the development of VR hardware and Metaverse related software.

Written by: Guy Purdy (Author and Co-founder of Earth2Update.com)

Compilation: Lemon (CoinVoice)

 

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/how-will-the-metaverse-redefine-our-way-of-life/
Coinyuppie is an open information publishing platform, all information provided is not related to the views and positions of coinyuppie, and does not constitute any investment and financial advice. Users are expected to carefully screen and prevent risks.

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