Hi guys, So last week, I wrote an article all about crypto gaming, and since then, the opportunities have exploded. I’m not joking; a recent breakthrough has opened up a whole new world of opportunity for intelligent investors eager to make money, and it’s known as, wait for it, The Metaverse.
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What exactly is Metaverse?
Picture a world where you can buy and sell digital versions of anything you want. This could create entirely new ways to invest and build wealth. This idea was first introduced in a book called “Snow Crash” by Neal Stephenson in 1992. Still, it’s only recently become a reality after Facebook announced its changed name to Meta and is working on their Metaverse version. But Facebook isn’t alone, as many crypto and NFT projects are aiming to create metaverses.
This sudden movement towards virtual worlds doesn’t come as a surprise to me, as people are using tech more than ever; it took 55 years for 80% of us to use cars, it took 28 years for 80% of us to use PCs, it took only 14 years for 80% of us to use mobile phones, and at this rate of adoption, the Metaverse could be right around the corner.
This is all very exciting for investors as the concept of a metaverse seems like the next big money-making opportunity, so today, let’s discuss exactly what a metaverse is. Why it could be the next big thing, what you should be looking out for and how to get involved and make some money because, after all, that’s what you’re here for!
Why else would you be watching a boomer like me other than to make some sweet profit?
NFT and Cryptocurrency Coins
1) The first way to profit from the Metaverse is NFTs and crypto coins. As many of you are probably aware, NFTs are the latest craze in the crypto world. I’m not joking; people are making millions of dollars selling JPEG images. I don’t think these kinds of NFTs are sustainable as they don’t have any real-world use. However, I’m not dismissing them entirely. Moving forward, I believe there is a very important aspect to making money from the Metaverse. Just think about it; people already value digital items in games, such as Fortnite. We notice as they transfer real money into V-Bucks to buy virtual skins, these skins don’t even make them better at the game.
They are purely used as tools to flex. This is very typical in the gaming world. Players accept that they pay for items that have no real-world value. Nevertheless, this doesn’t have to be the case in crypto gaming, as things are in NFTs. This could bring power to the players as you’d be able to resell your digital items for real money or maybe even make a profit. But this is only the tip of the iceberg.
The Metaverse is so much more than a game; it’s a whole universe where you can work, socialize, and play, all at the same time. You can buy and sell the digital version of anything you could ever imagine. This reminds me of the film “Ready Player One,” everyone was plugged into a virtual world called the OASIS, and they were spending real money on skins, gadgets, and tickets to virtual parties. This will be like combining the designer clothes industry with antiques that increase in value and massive potential.
Of course, we’re not there yet when it comes to the Metaverse, and there’s a long way to go. However, it could be great for crypto gaming and investing. The sad thing is so many players have poured money into games for skins and loot crates only to stop playing the game when the new version rolls out; I mean, what a waste of money? But if these items were NFTs, you could explore the Metaverse, find exclusive articles, level them up, and then flip them for a profit.
Interestingly, since Facebook changed the name to Meta and revealed all their future plans, the price of some crypto game tokens has skyrocketed as people are really started to get behind the idea of a digital universe. The highest 24-hour price hikes were from StarLink, which climbed by 130%, UFO Gaming, which increased by 55%, and Wilder World, 35%. So, even if these metaverses aren’t completely operational, you may still make money by selling these game tokens before they become popular.
Don’t get me wrong, and I’m not saying that these coins currently hold any value or promote them in any way, but it’s clear lots of hope for the future are driving their prices. So the simple fact is if you had invested before Facebook dropped their huge metaverse bombshell, then you’d have made some nice profit as crypto and gaming combine and expand.
I’m sure more coins, NFTs, and concepts, in general, will arise. It’s still early days; as you very well know, the investors that get in early gain the first-mover advantage, but they also have to navigate turbulent times.
virtual real estate through Metaverse
2) The second way to make money from the Metaverse is with virtual real estate. It makes sense that there will also be the opportunity to buy virtual land in a virtual universe. Now, this is getting ridiculous, virtual land! What’s the point of that? Well, you could rent it out for events and earn passive income or even sell it after it goes up in value. If you don’t know what I mean, allow me to explain.
Have you ever thought of a game with a base cap or home that you spawn into every time you load a game? Well, imagine your base is made up of items from your real home, amazing views, and even things that aren’t even possible in the real world. Well, that’s what Facebook is trying to achieve with Horizon Home. Once you log in to Horizon Home, you can invite your friends over, hang out, and even watch movies together.
I know what you’re thinking, why bother with all these virtual worlds when you can go around your friend’s house? Oh, for the most part, I’ll completely agree. But, oh my goodness, this is the end of the world. Kids spend enough time on their phones, and now you’re saying there will be visiting friends in virtual reality games too. So kids are just going to waste their life away. Well, yes and no. It all depends on how often and for what reasons people decide to use the Metaverse.
Ember Sword: Groundbreaking platform
The difference between a crypto metaverse and a normal game is that you would actually own the land, and therefore, as I previously mentioned, this land could go up in value and be sold for a profit. This is currently happening with the crypto game Ember Sword, which revealed that it would offer virtual land slots and garnered a $203 million pledge from gamers. This was the result of 35,000 people applying to buy 6,000 plots of land.
In Ember Sword, owning property allows players to earn bitcoin from any action on or around their virtual plots of land. There’s no way out, and I never imagined something like this would exist, virtual landlords, insane times.
Augmented Reality through Metaverse
3) Thirdly, let’s discuss augmented reality as this is where I see the majority of value coming from. Knowing how this technology works will give you a huge advantage. You will be in a much better position to make smart investments that pay off nicely in the future. Just imagine you knew about the iPhone before it exploded in popularity; you could have made a fortune off the back of that knowledge.
Every time I watch “Iron Man,” I’m always amazed at Tony Stark’s interactive hologram technology. This is how I see us all work in the future. I mean, at the moment, we have to rely on Zoom, but let’s be honest, that’s not the best solution as sometimes you’re sat in a meeting with ten people on a screen in front of you, and you can’t even see them all.
Imagine how easy it would be just to look around a room and see everyone there interacting with each other, just like the Jedi High Council. This would be a really great tool for working from home and seems like the perfect next step from Zoom. It could even be the future of surprise parties. We’ve talked a lot about virtual reality in the Metaverse. However, I must include augmented reality, which adds digital aspects to the physical environment. It’s more straight.
I believe it will also be a necessary stepping stone for many boomers like me to fully embrace VR. Imagine you could wear some normal-looking glasses, like these, and have a virtual computer set up in front of you that’s cost a fractional price; it’ll be so useful. Currently, Facebook has launched a software that allows you to meet in VR called Horizon Workrooms. This can be presently accessed with the Oculus VR headsets. But there’s certainly a long way to go before we and be like Iron Man. Microsoft and the video interested in space have a bit of an arm trace in this technology.
I find this so exciting as time is our most precious resource. By cutting down on our daily commute to the office, we can gain much of it back. This could give you extra time to start a side hustle or even take a virtual gym session with a real instructor appearing in your house; that’s a hologram. Companies who crack it first and come out with the finest products will expand dramatically if this is how we operate in the future. This means that if you invest intelligently, you may be able to take advantage of the upcoming wave of technological progress.
But as we march close to this interconnected Metaverse, we need to address the looming problem of data control. The pandemic has caused us all to rely on the internet more than ever before, and if you think about it, that’s exactly where the big tech companies want us to be. Facebook already owns Instagram, WhatsApp, and Oculus, which gives them ownership of our friends, behavior, and even eye movement.
Tech corporations have a tremendous amount of influence over our thoughts, actions, and behavior as they’re able to slightly tweak our reality to get the response they desire. Derren Brown, the famous hypnotist, actually conducted a social experiment where he tweaked the social media posts someone was exposed to and managed to make him believe a zombie apocalypse was on the horizon. If he can do that, just imagine how much power these companies have over our lives and even our voting choices. This is all because of the ability of data.
The Metaverse could be a great opportunity to seize back control of our data, or else we’ll just fall deeper into the big tech companies’ clutches. Just think about how much data they will collect with a whole metaverse under their control. The worrying thing is, what if this data is shared, sold, or even hacked? This would allow the Metaverse to belong to everyone and not be controlled by corporate entities with hidden agendas. I think that the argument between centralization and decentralization will decide whether the Metaverse becomes widely adopted and trusted or just branded as evil.
Decentralization is one of the reasons crypto, like Bitcoin and Ethereum, are so popular. I get the appeal where sometimes the banks have even blocked me from spending my own money, and they’ve got far too comfortable telling us what we can and can’t do. That’s why there is a lot of interest in crypto projects that are building decentralized metaverses.
I’ve said metaverses so many times by this point in the video, and it’s a wonder I am stubbled. Oh, do that again. Interesting crypto advances, such as zero-knowledge proofs, make it easy to verify that you are who you say you are without giving up your sensitive details to big companies and trusting in them to look after them.
A decentralized metaverse would also allow us to take control of our own data and even sell it to companies ourselves if we want to make some extra money. So we have to ask ourselves if we want the ability to make money from our data and digital assets, or are we prepared to give it away to the big tech companies looking to make huge profits? EA Sports and Activision are already making well over $1 billion each from microtransactions; it’s in the game, and what do the players get to show for it? Some pay to win digital FIFA cards and “Call of Duty” costumes.
That’s hardly giving power to the players, and it’s simply big companies lining their own pockets. Whereas with blockchain technology in play to our people can control their own data and profit from it. So the general public doesn’t seem to be too happy about this Metaverse, and I have to say it, I can see where they’re coming from. There is a fine line between this being absolutely awesome and spine-chillingly terrifying.
What do I think about Metaverse?
In my opinion, it’s a really interesting space to be investing in, and I’ll be supporting a lot of these centralized crypto projects as I believe in a future where we, the people, are in control of the Metaverse. Unfortunately, it is extremely hard to separate the real games and metaverses from the rug poles at the moment, which is shinning a negative light on crypto as a whole. In the upcoming days, I will be digging into different crypto games and how to invest in them! So you all might get some brilliant ideas about it! I’ll see you over there!
- Picture a world where you can buy and sell digital versions of anything you want.
- Interestingly, since Facebook changed the name to Meta and revealed all their future plans, the price of some crypto game tokens has skyrocketed as people are really started to get behind the idea of a digital universe.
- We’ve talked a lot about virtual reality in the Metaverse.
- Data Control But as we march close to this interconnected Metaverse, we need to address the looming problem of data control.
- The Metaverse could be a great opportunity to seize back control of our data, or else we’ll just fall deeper into the big tech companies’ clutches.
- Decentralization is one of the reasons crypto, like Bitcoin and Ethereum, are so popular.
- That’s why there is a lot of interest in crypto projects that are building decentralized metaverses.
- A decentralized metaverse would also allow us to take control of our own data and even sell it to companies ourselves if we want to make some extra money.
- What do I think about Metaverse?In my opinion, it’s a really interesting space to be investing in, and I’ll be supporting a lot of these centralized crypto projects as I believe in a future where we, the people, are in control of the Metaverse.
- Unfortunately, it is extremely hard to separate the real games and metaverses from the rug poles at the moment, which is shinning a negative light on crypto as a whole.