MetaVerse VS Real World

Metaverse is not a new term, but it has been used a lot more in the past few months, and more people came to know about it because of a rebranding of Facebook into Meta. The term first came into existence in 1992 by Neal Stephenson in the novel Snow Crash. In this digital avatars of characters explore a digital world.

Slowly Metaverse is becoming a reality, and it is making its way into several aspects of daily lives ranging from movies, games to real-world navigation applications. It is in its early development stages but full of potential.

What is Metaverse?

It is hard to pin down the specific definition of Metaverse. However, we can define it as a virtual world where users access their digital avatars to experience the digital world. In the Metaverse, digital avatars of people can communicate with friends; take trips virtually to different digital locations and trade digital assets.  

Metaverse promises unlimited possibilities. It is a virtual world that is an extension of the physical world. This is made of augmented and virtual reality and runs on a digital economy powered by cryptocurrencies and digital currencies.

Is it a Game?

There is no single or definite metaverse; there is much iteration. For instance, if you are playing Fortnite, you can access a metaverse. If you use Facebook Horizon, you can also access a different metaverse. It is interoperable, so assets collected from one platform can be used on other.

How can you earn in Metaverse?

When it comes to innovation, Metaverse is becoming the popular term, and everyone is eager to take its benefit. You can earn money by playing games in Metaverse. Play to earn blockchain-based games allows earning a handsome amount without any effort. Players can make a decent amount by games like Axie infinity.

You can earn by online shopping. Avatar skins and new digital fashion notions will emerge, making the path for clothing brands. 

Virtual reality tours are becoming popular in a pandemic. The metaverse development team intends to engross visitors. So, you can easily cross borders without leaving your home. You will be able to time travel. With the advancement in Metaverse technology, there will be less need to travel long distances, saving fuel, money, and time.

Parcels and art pieces of land are provoking the investor’s interest. With the increased interest of the population in Metaverse, people understand the benefits of land in internet space. One of the popular ways to make money in Metaverse is by buying land. If you own a small plot in the Metaverse, you can rent it to builders, creators or anyone who cannot afford to buy the land so they can run their business and give you monthly rent. This is a great way to earn passive income.

How will Metaverse replace the real economy?

We should dream high with the Metaverse, and it is a new source of money-making. Good usage of blockchain-based Metaverse can create a parallel virtual universe. It has a transparent financial system to deal with issues.

The distance between consumers and commercial brands has been narrowed with the Metaverse. It offers better opportunities, virtual experience and business models. For instance, the combination of social interaction and gaming promotes the quick growth of the gaming market and NFT offers a viable way to asset digitalization of the physical world. 

NFT creates and promotes the trading and circulation of encrypted digital products, including artwork, game content, collectables, tickets, music, and tweet post at some point in time. The Metaverse brings new business opportunities and creative and meaningful ways of thinking to change the world.

How to Invest In Metaverse

The most secure option is to invest in publicly traded companies whose profitability or business models are tied to the Metaverse.

Roblox (NYSE: RBLX) 

This online metaverse platform allows gamers to develop and share virtual worlds with other users. It came into existence in 2006 and has grown rapidly with 9.5 million independent developers, 49.4 daily active users and 24 million unique digital experiences. 

Meta Platforms Inc (NASDAQ: FB) 

Facebook, in October 2021, has announced its rebranding. It has become Meta platforms Inc and released a virtual reality platform Horizon Worlds. One of the most significant gifts is the  Meta’s Oculus Quest 2VR headset over the holidays.

 Microsoft (NASDAQ: MSFT) 

In the professional world, Microsoft is dedicated to getting its metaverse niche. In 2022 company is planning to release Mesh for Microsoft teams. This will be added to the video conferencing platform, allowing individuals to create their personalized avatars and communicate in a 3D environment. The essential feature of Microsoft Mesh is Holoportation which enables users to access the digital domain using a VR headset. The digital representation of the user will have the ability to interact with team members like in the physical world.

Boeing (NYSE: BA) 

For improving production capabilities, Boeing is using the Metaverse. The company plans to create a digital environment where computer, human and robot employees can collaborate and communicate easily across the globe.

Government control in Metaverse

Governments are bringing public services online by joining the Metaverse. As this continues to evolve, more countries are entering the Metaverse. The first city to officially join Metaverse is the Metaverse Seoul, building its public service digital platform. It includes public gathering places, city hall and digital community services. The platform will host cultural events and the city’s entertainment and provide civil services and complaints.  

How will it look?

The term metaverse is a combination of meta and universe that describes the future internet containing 3D virtual spaces linked to the virtual universe. When Metaverse is completed, our physical world will merge with the digital universe. In that case, you will meet your digital life.

Metaverse is a virtual space where digital avatars represent people. This virtual world grows based on the actions of the outer world. Thus people can interact with a virtual world.

How is Metaverse solving real-life problems?

Metaverse will solve lots of real-life problems. For example, if we start studying online, there will be no need to construct school buildings that will protect trees from cutting. You can travel to different places in Metaverse without going out of your home, which will reduce pollution and save money and time. Moreover, in this covid situation, you can meet your friends in the form of digital avatars.  

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