Will Metaverse make millionaires

David Clapper
Latest posts by David Clapper (see all)

Metaverse and Web 3.0 are all the rage nowadays. It helps that doomsayers predict it’s the start of The Matrix. We’re still far from being batteries for machines, but we’re at the point of augmented reality and on the cusp of virtual reality.

Web 2.0 completely transformed the world as we know it, handing the immense power of the internet into the hands of ordinary people. It brought us user-generated content and participatory culture without which we can hardly conceive most of the internet today.

Web 3.0, as the pioneers envision it, will reshape the internet into a less centralized, blockchain-technology-based cloud. If you’re looking for an example, take Siri, Apple’s assistant, which uses speech recognition and artificial intelligence to deliver results and suggestions. Applications seamlessly connect and transition into websites and back.

There are even bigger dreams in store for us. VR technology allows us to inhabit the digital space as never before, almost like we do the physical space. Video games already use this, but this is far from the only application.

Picture this

You work in a beautiful virtual space with a perfectly organized office that never gets too messy. After you are done, instead of having to deal with annoying traffic and stressful chores, your way back into reality is a fun digital joyride.

First, you change your digital avatar into something as personal and crazy as you like. You could become a dinosaur or a small fly or wear branded clothes. The trip into the store is a mini-game, a fun ride. You can witness beautiful scenery, or you could fly, or maybe you could race with other people.

Once you are done perusing the neatly sectioned categories and items, you are about ready to log off and snap back to reality when you hear music. There’s a virtual concert happening in the digital parcel right next door. Your notifications explode with hype so you decide to check it out.

You can enjoy yourself like never before. You can sing along, surf the crowd, or just go crazy. By the time you are done bending the laws of physics and sharing this amazing experience with many other users, you’ve already blown off steam. The items you ordered beforehand are already delivered to you and you get to enjoy the rest of your day however you like.

The Metaverse

It’s not exactly a fantasy and we’re not that far from this. Facebook, the biggest and most successful social media company believes in this concept so much that it has rebranded itself into Meta Platforms.

However, it’s not just about modeling digital spaces and turning them into websites. To go meta, if you will, a few key technologies will have to be perfected and implemented.

  • NFTs – On the face of it, it’s kind of ridiculous, but think about it for a second. What NFT tech is really doing is introducing digital ownership of assets. Sure, now you can just click and download an item, but someday you may have to go out into the digital world and may want to show off an avatar or a decoration. You may want to create a digital art gallery or a digital playground made of many mini-games. For all this, especially in blockchain-based technology, you will need to own the digital asset. Laugh at the .jpg ownership all you like, but consider digital asset ownership seriously.
  • Cryptocurrencies – The ability to trade money digitally will facilitate the transfer of virtual assets and they may be intertwined with the currency itself. Wherever facilitates the ease of cryptocurrency transfer helps bring about the metaverse itself.
  • VR tech – this means VR goggles, as well as hardware and software. The biggest problem right now is how to solve movement in the virtual world in a way that feels natural. Some solutions are bulky, others provide a good experience. One potentially interesting solution is Neuralink technology. In essence, this is the problem of interfacing with technology.

Advantages of metaverse: why even go there

Every single industrial revolution has been about efficiency. More efficiency means more people are free to expand the human enterprise into novel fields, instead of having to put in work to find food and shelter.

Essentially, any service that can be provided over a video call can be provided better and more efficiently. This means a lot of the office work, overseeing, consulting, advising, teaching and learning, and probably even therapy will be further advanced through the metaverse.

Source: pixabay.com

Then there is interaction and attention. On the other side of the coin, opposite of real work and value is sheer presence and attention. Digital spaces will be populated with many people and there will be ample opportunities to advertise in ways seamlessly connected with experiences.

How will metaverse make people into millionaires?

  • Advertisements The aforementioned ad revenue is one idea. Making a fun experience and leaving space for brands to subtly latch onto your digital environment is certainly one way.
  • Assets – If you have the skills, you could be creating assets for the metaverse. That means anything from 3d objects that people will go crazy about to entire environments, games, and experiences.
  • Gaming Crypto – Someone had the genius idea to meld together gaming or interacting with the world and having fun with cryptocurrencies. It’s a way to add real work and real assets (albeit digital) to a cryptocurrency – and a fun one at that. Metaverse-oriented crypto coins will follow the project’s growth.
  • Invest in companies – Hardware is not going away and someone will absolutely have to build and maintain infrastructure for all this. That means that any company that the necessary technologies will rely on will see growth as metaverse takes off. Whether it’s Graphics cards manufacturers, the industry pioneer Meta Platforms, or software that will be used to build all this, you should be looking to include these companies into your investment portfolio immediately.
  • Landlord – You could just jump early on the bandwagon and buy up digital plots of land. Because metaverse shares some features with reality, having a well-positioned asset will absolutely still be of value. Even though metaverse is theoretically infinite, computing power and energy aren’t, so even the most popular platforms will have some limitations. Rent these, sell them when the prices jump, go wild.

To conclude

We are on the cusp of the next major shift. The technologies that are with us today and which are almost perfected will far surpass anything that we were able to make on the internet so far. Those who jump on this bandwagon early have great benefits to reap later on. 

Learn skills and adapt existing ones to provide a service in this environment. Invest in companies and infrastructure for this valuable mega-project. No matter which of these you prefer, get on board as early as possible and become a legend and one of the metaverse millionaires in the future history books… blogposts… whatever they invent, it’s probably going to be crazy and interactive.

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