The Metaverse is a buzzword nowadays, ever since the ‘reveal’ of Meta. However, most people might not understand what it is or how it exactly works.
In short, the Metaverse is not a place, but another layer of our lives. This layer aims to merge our digital and in-person lives. It is not built by one single company or organization, but by many. It will include very interactive elements in our day-to-day lives.
How did the Metaverse start?
Honestly, I believe the Metaverse started earlier than imagined with the help of games such as Runescape, World of Warcraft, Minecraft, and Sims.
However, it was coined later, when Facebook announced that they want to move towards a Metaverse. They aim to build tools, resources, and gadgets to help the transition.
The Metaverse is being built under our own eyes.
Where is it now?
It’s just getting started. Meta has a lot of things to build, but there are companies that are taking their face. A number of companies are already building the first businesses and opportunities of the Metaverse as we speak.
People can actually step into it, purchase land, create a business, rent land, offer services, etc. It’s already reading jobs and capital for most people.
As of now, there are a few virtual spaces such as Decentraland and SandBox where you can do a bunch of things such as purchasing and renting land, creating stores, galleries, event halls, advertising, etc. Atari is very involved in this as of now. I believe they have great plans for the future.
There are marketplaces such as OpenSea, where you can sell, purchase, and auction digital assets, and there are multiple opportunities to invest your capital, either Crypto or DeFi investments, or purchasing of digital assets.
Especially now, there is a central hub for the early people in the Metaverse. It’s called Decentraland. What makes it interesting is that it helped build a market on its own. There are marketplaces for digital assets, land purchase, services, crafting of digital tools, and a job market as well: people design, help, promote, and do other activities that bring in income for themselves and others. From 22 to 28 November 2021, $106 million in land was sold in Decentraland and Sandbox.
Where is the Metaverse going?
The metaverse is going big. As I mentioned in the beginning, it’s an entire world that is being built, as another layer of reality. As of now, it only ‘lives’ on the internet, but this is actually the beginning.
Why is that? Simply because we don’t have AR Glasses yet. Once this is checked, you will truly see the Metaverse everywhere. While browsing, shopping, walking around the city, everywhere.
Only then can it unleash its true potential for socializing and building wealth. Until then, it’s only available on screens and in VR.
How can we help you get into the Metaverse now?
We are very excited about the Metaverse and what it has to offer. This is why we are working towards creating a range of products and services for it.
Our first service is the creation of Virtual Galleries. These are virtual spaces in new/existing virtual Buildings where we can display your NFTs. Much like in Decentraland, but without the huge upfront cost for the land parcels. You can read more about it here.