Which Metaverse lands should one purchase right now? which one? Which Metaverse will be the most popular one in 5 years? Is it a good time to buy right now? Why are there so many Metaverses? Multiverse?
All excellent questions.
Suppose there are infinite metaverses but a finite number of ways to design them (pixel art - Minecraft-like / 3D unreal engine) in any respective platform. In that case, the users that make up the community will most likely shape that Metaverse look and feel, hence the
With that said, each Metaverse will have its unique flavour/style shaped by the users participating in that community.
Essentially the Multiverse is a combination of different Metaverses. It will only work well when different Metaverse platforms work together to bring them all together via portals or devices that can transport one from one Metaverse to the next.
TechCrunch states that we're currently in the multiverse era of technology, where "the virtual worlds of games expand to become mainstream hubs for social interaction and entertainment."
"Multiverse virtual worlds will function almost like new countries in our society, countries that exist in cyberspace rather than physical locations but have complex economic and political systems that interact with the physical world."
Social media platforms, online games, and massive multiplayer online games are simply an extension and can be integrated into the Multiverse.
The Metaverse, on the other hand, is a shared, persistent digital environment where users can work, play sports, go to concerts, watch movies, shop, or hang out with friends.
There have been raving reviews of individuals around the world regarding the Multiverse, and many are excited about transitioning everyday activities to the Metaverse, especially when it comes to connecting with people, exploring virtual worlds, and collaborating with remote colleagues. Unsurprisingly, the more a user is active in the Metaverse, the more likely they will purchase within it. What's exciting is that the Metaverse, like the internet, is the next platform on which ones can work, live, connect, and collaborate. That's why NFT technology and Metaverses, Web3, compared with the supposedly now web2.
It will be an immersive virtual environment connecting different worlds and communities. There will be creators and alternative currencies you can buy and sell things. It will have a lot of Web3, gaming, and AR components, but it will be much more extensive in scale and adoption.
At its most basic core, Metaverses consist of a sense of immersion, real-time interactivity, and user agency. Consumers and companies are experimenting with the early Like any new technology, the Metaverse is neither inherently good nor bad. There are use cases for everything from socializing to fitness, commerce, virtual learning, and other daily activities. It will be what we make it, and we can learn from previous eras of dramatic technological change.
The Metaverse is early and new, meaning there's a lot of creative freedom in how it evolves. There are little or no government regulations at the moment. However, many skepticisms and challenges like data privacy, cybersecurity, and child protection would need to be addressed. Many diverse sets of use cases across industries. The complexity and excitement of the technology that underpins the Metaverse is a whole source of renewal for innovation.
How big could this Multiverse / Metaverse opportunity be?
If you are a business owner, you should be open-minded about potential Metaverse applications for your business. Have a long-term mindset. The space is constantly evolving. It would be best if you were not planning for 2022 but planning for sustainability in the long term.
Metaverse represents a potential $8-13 trillion opportunity by 2030., with five billion users." - predicted by Citibank & Goldman Sachs
I feel it is a good idea for companies and executives to dip explore into the Metaverse and experience to understand better what it entails. There is no avoiding the fact that if you want to understand consumers and opportunities that may be available to your organization, you need to be familiar with the Metaverse. As a result, more prominent corporations are putting their digital footprints into the Metaverse. The best way and most economical way for business leaders to explore is by becoming metaverse users.
Thank you. I look forward to hearing your own insights and comments.
Cheers,
Eric F
If you want to get in touch about interesting NFT ideas or projects or want to hear about a specific topic, I'm @ericclfung on Twitter.
Thanks to @LiMeRiC & @Rocketman1988 & @CISBROS & @fichus0512 for reviewing this post.
Disclaimer: I am just an NFT dreamer who has some success in this crypto and NFT space. The above does not constitute an offer or solicitation to offer or recommend any investment product.
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