Web 3.0 has disrupted the entire world. While NFTs attracted artists, brands, and celebrities, more attention is being given to the metaverse now. Let’s understand the concept of Metaverse, and how metaverses like COMEARTH are going to revolutionize metaversal investment opportunities.
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What is Metaverse?
It is an immersive environment where people interact via digital avatars. Operating as an extension of the real world, the metaverse will be a mix of Augmented Reality, Virtual Reality, Blockchain technology, Artificial Intelligence, and 3D. Users can also trade and monetize these virtual assets on different marketplaces.
What is Metaverse? It will function as a virtual world that runs parallel to real life. It will change the way people work, play, shop, meet, and interact. Anyone can launch a digital space and use it to communicate with the rest of the globe.
What’s driving the buzz in the metaverse?
Virtual Goods
Undoubtedly, e-commerce triggered the online shopping revolution. However, brands are betting big on digital goods to attract customers. Potential buyers are trying out virtual wearables before purchasing them. Currently, digital garments, virtual sneakers, and luxury jewelry are selling for huge prices.
Besides that, the foray of brands into the metaverse reflects their heritage and values. Metaverse stores tend to decrease the gap between virtual and physical assets. It serves as a touchpoint for the consumers as they tend to get first-hand access to the goods. NFT owners get exclusive access to the products and also control digital rights.
Special Access to Events
Brands are launching NFT collections that will unlock a one-of-the-kind experience for their target audience. Hence, a selected group of customers will receive access to exclusive perks. Issuing NFTs in the form of passes and tickets will help in building a strong community. NFT holders will also become paid subscribers or premium members.
Personalized collectibles
Actors and sportspersons are also launching their NFT collections on various marketplaces. Thus, trading cards, autographs, video clips, and memorabilia are witnessing high demand from fans of popular personalities.
Sale of albums and tracks
NFTs are making waves in the music industry. Artists and bands are selling off their albums, songs, lyrics, merchandise, and tickets to concerts as NFTs. Hence, fans can financially support their favorite artists by purchasing tokens. Frequent listeners will get a portion of the royalties in return. Exclusive content will also be available to music aficionados who are part of a VIP/ VVIP list. Hence, blockchain technology promotes transparency in the music streaming and distribution industry and facilitates a level playing field for all stakeholders.
Smart Glasses
The future of social media is decentralized. While smartphones serve as the focal point of content consumption, smart glasses will be a game-changer in the future. People can take snaps and videos and share content on a real-time basis. AR-powered glasses will enable the instant translation of languages.
How will the metaverse evolve in the years to come?
Digital Identity
Amidst intense scrutiny over the pros and cons of centralization and decentralization, providing a self-sovereign identity to each user is essential as the metaverse goes mainstream. Web 3.0 gives more priority to privacy and security. Hence, trends like single-sign-on (SSO) and auto-verification will be primarily utilized while authenticating users of Decentralized Apps (DApps).
More power to the community
Web 3.0 hands control back to the users. As projects themed on metaverse launch their business operations, it is essential that every stakeholder influences the governance of the platform. Therefore, the formation of Decentralized Autonomous Organizations (DAOs) is pivotal for ensuring that every individual can have a say in important decisions, policies, and proposals. The adoption of blockchain technology and cryptocurrency will directly have an impact on the metaverse when it makes inroads into the day-to-day lives of people.
Connected devices
Physical objects backed by sensors will share data in a decentralized network. The Internet of Things (IoT) will represent the digital universe in a simulated environment. Hence, users can monitor the status of real-world objects through AI-powered virtual assistants.
Wrapping Up
The metaverse will play an important role in the next generation of the Internet. There will be greater emphasis on merging the physical and the virtual worlds. Unquestionably, immersive technologies like AR and VR will create a digital experience for users. Wish to stake a claim as the leader in the Web 3.0 revolution? Take your business forward by becoming part of COMEARTH now.
