If you still don’t know what Metaverse is, you should start searching, because is one of the biggest social discussions now. Practically, Metaverse is just a network of 3D virtual worlds, based on social connection. The term was first brought up in 1992, in the SF novel Snow Crash, bonding the words “meta” and “universe”.
Talking about the crypto world and blockchain, we can say that blockchain technology is essential for the developments of the Metaverse and Web3.
What does that mean?
Some existing metaverses already use cryptocurrency as a form of payment. For example, in Decentraland, you’ll need to purchase its token, named MANA, if you want to buy anything there.
Metaverse and real estate
It’s been known that the metaverse property mogul touts 10-fold appreciation in virtual real estate portfolio:
“It’s all about the location “
The CEO of Tokens.com foresees investment in virtual reality as big as companies intensify product ads and events in the flourishing metaverse ecosystem, corresponding to USA Today. Also, he estimated that his metaverse portfolio is valued at 10 times more than his purchase price, which is mind-blowing.
As we stated before, “It’s all about location” is one thing he told the news-press, which means that the “land” in a downtown area in a virtual space, is the key. He too said the more visitors come, the more value the land has, and, in this manner, more retailers and advertisers will be willing to spend more and more on ads to reach those people.
A great deal was that Tokens.com, based in Toronto obtained a 50% stake in Metaverse Group in October, for $1.7 million, completing an extra investment this month, to give it a 67% ownership stock in the firm. Why this value you may wonder…because, last month Metaverse Group made a record of $2.43 million buys of parcels in Decentraland, while they hope to see a quick monetizing of this.
Only real estate can be monetized in Metaverse?
Well, no! As this world is growing bigger and bigger every day, if you are part of Metaverse, you will find that luxury fashion houses, Gucci and Louis Vuitton are already in the metaverse world through NFTs, and you can be fashionably walking in the virtual space. It could be like you are walking on Fifth Avenue, even if you are at home on your couch.
So, what do you think about this transformation of the real social network? Are you part of the Metaverse yet? And more important, would you like it if Genius would be a part of this universe?
We’re waiting for your feedback!