As a new and emerging technology, people are still wary about the metaverse. The early adopters are curious about the different possibilities of utilising it and how it can be valuable to them. Nowadays, it’s a rising trend to own your own virtual spaces as we begin to notice many big brands and tech companies started developing their vision of metaverses.
So, what’s good about the metaverse?
Immersive Digital Communication
Think of the metaverse as an upgraded and 3D version to the conventional way of browsing the internet. The prime feature of the metaverse is that it provides immersive digital interactions as users engage with each other using avatars while venturing into a life-like virtual world.
Users are more engaged in any activity they are doing especially when it’s paired with VR technology. You are able to experience everything in the most immersive way from exercising, socialising to having business meetings with people across the globe in the metaverse.
Empowering NFT Communities
With the help of blockchain technology, the metaverse is currently playing a huge role in Web 3. A lot of NFT project propose their long term goal to have a metaverse space for their community to engage with each other and also to maintain the rapport that the team built with the members. Depending on the NFT project’s utilities, the metaverse has the potential to function as a gaming zone, digital marketplace, virtual real estate or art gallery where community members can integrate the NFTs that they have minted as their digital identity or props in that virtual space. For example, you can buy a digital land from [Decentraland](https://market.decentraland.org/) and build your own space in their metaverse or buy an NFT from [Axie Infinity](https://axieinfinity.com/) and utilise their NFT as an avatar in their gamified metaverse.
The metaverse also allows token or NFT gating whereby users have to own a certain digital asset from a project to be able to enter the virtual space thus allowing it to function as an exclusive clubhouse for community members to have access to.
Developing Virtual Economies
The notion of virtual economies in the current digital realm is strong. As trends show, people are quick to find ways to make profit any emerging technologies, and its no different for the metaverse. People are inventing ways to make a sustainable living by capatilising on what the metaverse can offer.
The metaverse economy can serve as a platform for immersive exchanges of digital assets with high economic values. This allows the introduction of new trade activities and jobs in shared virtual spaces. For example, people are investing in digital real estate within the metaverse, like , hoping that in time the virtual land will appreciate in value. Furthermore, many people are also earning money in the metaverse through games such as that rewards you with tokens which can be exchanged for money.
Ultimately, the metaverse still has a lot of growing to do before it is fully optimised to its best potential. Many of the current pros will develop into something much greater than what it is today. Be it 10 or 15 years into the future, the metaverse IS the next generation of the internet. It will serve as a great pre-emptive move to begin exploring on what the metaverse will look like for you, be it leisure or career-wise, and there’s no better way to do it than to step foot into the space and explore.
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