Metaverse is the biggest new development in the world of social media and online trading. It’s announced as the next step in how we use the internet and some of the biggest companies in the industry have announced that they plan to pivot to it.
It’s an interesting mixture of financial opportunity, new tech, and the overall changing attitude towards the world of social media. All of this is to say that there’s money to be made in it and investors are taking note.
The Zuckerberg Announcement
Facebook founder Mark Zuckerberg has announced that the company is moving forward with pivoting toward a 3D virtual reality social media platform or the Metaverse. Facebook as a whole will change its name to Meta and traditional social media platforms will be just a part of it.
This has caused many others to share their plans to invest in similar projects and metaverse soon became the next big thing everyone is talking about and planning for. The announcement came at a time when Facebook became rather unpopular but the plans for doing so, seem to go way back.
Investments in The Companies Providing the Service
One of the ways to make money out of this interest is to invest in the company that’s providing the service itself. Meta or Facebook is one of such companies but there are others as well. Microsoft will probably be the biggest competitor Meta will have in the world of virtual reality.
Investing in these companies is the same as investing in any other company that’s publicly traded and that has shares you can buy or sell on the stock market. There are fees and taxes involved.
Cryptocurrency is Powering Metaverse
Metaverse will be powered by decentralized cryptocurrency networks. They are, in turn, run on tokens which are the means of transactions within the metaverse. Investing in cloud mining of these digital tokens is therefore your way of making money off the interest in the Metaverse push. Those digital tokens could be used in other ways, however.
Cryptocurrencies have already been used as a payment method beyond just the digital asset market. They are used in the gambling industry, in the financial industry, and in many other fields where quick transfer and anonymity online are important.
Advertising Your Business Within the Metaverse
As soon as Zuckerberg announced the Metaverse as their next big project, he spoke of avatars that will represent you in the digital world. The prominence of avatars has led to many marketing opportunities that are just waiting to be used. For instance, you could dress your avatar in your favorite team jersey with a small fee going towards the team for the use of their intellectual property.
This is just the beginning and as more users are flocking to Metaverse, chances are that there will be more companies looking to promote their services within this new framework.
Making Purchase Within the Metaverse
It’s possible to buy assets within the metaverse itself. Digital assets can be bought with cryptocurrencies and used within the Metaverse or sold and rented for profit. Many are seeing this as a way to invest in the project and make money once more users are looking for assets to use.
The land is the most sought-after asset at this point since there’s a limited amount of it and it can easily be rented just as is the case with real-life land. The gaming community has jumped on this idea, as they are familiar with it from the world of gaming.
What Stocks To Look For?
The companies that are behind these projects are publicly traded meaning that their stocks can be bought and sold on the stock market. This also means that there are fees and taxes to cover when making a profit in this manner. It’s the most traditional way to make money out of the Metaverse.
Facebook and Microsoft are the largest competitors in this race but there are others as well and more will follow as the market is focused on the development in the industry. Boing has announced that they are focusing on VR as well.
How to Buy Land and Other Digital Assets?
Land and digital assets can be bought inside the Metaverse itself if you have a digital wallet for your cryptocurrency portfolio. The wallet is connected to your account and used to purchase as you would with any other purchase online. The proof of your purchase and therefore ownership is then sent to you.
Once those transfers are made you’re allowed to rent or sell the asset as you see fit since you own it now. You can use a variety of different digital tokens for this purpose depending on the metaverse and your preference.
What Digital Tokens to Buy?
There are a few digital tokens that have risen through the ranks as payment methods and therefore as important investments as well. Some digital tokens are also known as governing tokens. They aren’t just payment methods but also a stake in the company producing them.
Decentralized MANA and AXS are good representatives of both of those types of digital tokens, and the former is already worth $6 billion. Other tokens will soon appear and the market for them is going to grow in the years to come.
Is Metaverse a Trend or There’s More to It?
It’s never easy to say which innovation is here to stay and which is just a short-term trend. There have been examples both coming from Facebook and Microsoft before. Chances are that Metaverse will play a big role in the future of online communication since it’s coming at a time that’s ready for such a change.
Investors of all kinds are looking into Metaverse and the technology behind it and finding ways to earn from it. It’s always a good idea to start something from the ground up and benefit from the interest in these trends. Even smaller and mid-sized investors are finding their angle on the market.