
The metaverse is the next proposed phase of the Internet. It is said to be a merger of technological elements of the virtual world, Augmented Reality (AR), Virtual Reality (VR), and Extended Reality (XR) as is expected to dissolve technological problems with these devices. This Internet phase is also predicted to affect various sectors in the economy, such as education and business, as well as revolutionize the lifestyles of its users.
Across different business verticals, the metaverse will be used to boost productivities at work by increasing the efficiencies of workers. In the learning system, the metaverse is proposed to allow teachers and students co-exist in a disciplined and extremely focused learning environment. Consequentially, this upgrade will increase the rate of learning of students and their performances.
The metaverse will be used in organizations, brands, or occupations that thrive on showcases and displays. For example, a car dealer can show a potential customer the experience they can derive from a particular model of car. Also, it can advance the use of virtual reality that is already used to house tours. There are many more occupations that will be affected by the metaverse, such as Police Officers, Doctors, Accountants, etc.
In the nearest future, being in the virtual world will be a choice of living to some individuals. It is extremely easy to get addicted to the virtual space. With that in mind, various Blockchain platforms are popping up. These platforms are structured to be the pillars of their virtual space in which people can trade cryptocurrency, trade NFTs or play games.
Organizations like Facebook have started to invest in the metaverse project by contributing to the technological elements required to display the metaverse virtual space. In October 28, Mark Zuckerberg's announcement to change Facebook's name to Meta allowed its share price to rise more than 9%.
Once the metaverse has been completely developed, it is expected to have three major features: standardization, presence, and interoperability. Metaverse is expected to allow individuals to be present with other individuals in a virtual space and allow these individuals to operate with avatars and other digital accessories. Humans will need to use cryptocurrency to purchase these digital accessories and clothing.
For the metaverse to be fully developed, the following conditions must be established:
• Virtual currencies must be fully accepted by the world.
• Virtual interaction must be adopted and become a part of people's daily activities.
• Virtual certificates must be created to implement virtual security.
According to the Bloomberg Intelligence, the Metaverse's market size is estimated to be $800 billion by 2024. That is a very large number!
How Can One Invest in The Metaverse Project?
Before investing in the metaverse project, an investor must decide whether to invest short term or long term. There are other choices investors must make before diving into the investment opportunities presented by the metaverse. It is advisable to invest in the structure of platforms and ecosystem in the metaverse.
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