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The Metaverse is one of the fastest-growing technology of the present. According to Bloomberg Intelligence analysis, the Metaverse could lead to an $800 billion market cap.
Although it is still in an early stage of development with only a handful of platforms available to the general public the unifying virtual world of the Metaverse offers endless possibilities for gaming, work social interactions, as well as revenue generation.
So, what we can do on metaverse? Let’s explore the answer
Buy or selling of real estate is one of the most popular instances of use for the Metaverse, and there are companies and individuals looking to get ahead of the curve in this area.
Metaverse platforms are separated into parcels of land called parcels. These are available for purchase by using the unique cryptocurrency of the region’s token. After you’ve purchased property, you may sell it for a greater value rent it out to an agent or property developer, or even an event organizer to earn money.
Certain Metaverse platforms also have built-in tools that allow users can build experiences in VR, instead of just experiencing it in a passive way. For instance, Horizon Worlds provides pre-built layouts, sounds as well as physics properties, forms, and more to assist users in creating their personal VR worlds. It could be a basic “hangout” space for personal usage or a multi-layered gaming experience that includes multiple players.
In the event that you asked someone “what can we do in the Metaverse?” One of the responses you’ll get would be “be anyone you like.” At first, it was popularized by science fiction, and nowadays supported via the Metaverse platform, VR avatars can be very adaptable.
A user, for instance, can alter their hair color and body type, as well as accessories as well as gender. They can also be imaginary characters from the Metaverse.
The Metaverse can revolutionize remote work by making the intimate nature of personal interactions into the digital realm. VR platforms such as Mozilla Hubs already have this ability to a certain extent but the Metaverse will take it one level higher by permitting whole office buildings and campuses to be a part of an imaginary world.
Users can use collaboration tools such as an endless whiteboard canvas, permanent spaces, and VR keyboards for working with colleagues.
The Metaverse can make it simpler to connect with new people without needing to travel far distances, or even leave the house. This is extremely beneficial for people who live in remote areas, who have few options for socializing, or for people who have physical disabilities.
There are a variety of Metaverse games specifically designed to assist people in meeting and making connections. There is even an instance in which two people were married in the Metaverse, and were allowed to invite a huge number of people, without any social boundaries.
The Metaverse lets users interact with goods in a way not possible with online stores. The avatar of the user can visit the virtual store, walk along the shelves, check on products like clothing or footwear, and then make payments in cryptocurrency directly. Users can purchase virtual items for their avatars, or make an actual purchase and have the item delivered to them in the future.
VR real estate could be utilized to host a variety of occasions, from music performances and social gatherings to meetings for learning and corporate events. Event organizers may decide to profit from this opportunity by distributing tickets for paid participants.
Metaverse events have the potential of reaching many more people but also ensuring that the interactions are natural and personal. The majority of platforms release the dates of their monthly events prior to the date.
VR gaming is among the most important applications of the Metaverse and possibly the main reason why it was initially conceived. The Sandbox for instance is a set of games that has gradually evolved into a dominant Metaverse platform.
Players can play games to have fun, but also take part in ‘earn-to play’ activities. Bloktopia will feature casinos and other games specifically designed to be used in this manner and any money that is earned will be transferred to the wallet of the user’s cryptocurrency.
The tools for editing in Metaverse platforms can assist in creating games-related assets that can be sold on the marketplace of digital goods. The assets can range from simple avatar skins and wearables to more elaborate weapons and gaming tools.
The platform lets anyone develop and sell assets even without any design expertise and take part in the metaverse economy.
As there are concert venues or workplaces on the other side of the world, it is possible to also create art galleries. In this gallery, visitors can see digital artwork and then purchase these as tokens that are non-fungible (NFTs).
It is a new investment asset that assigns digital objects that have real-world value and ownership. NFTs are resold to make profits or keep them in an art collection. NFT art is accessible beyond the Metaverse too (through crypto-based marketplaces) however the experience isn’t as engaging.
As the Metaverse develops and expands, its economy will create new job opportunities unavailable elsewhere. For instance, one might be a tour guide for the Metaverse and guide new users through all the amazing VR experiences via the system.
Metaverse weddings can create jobs like VR wedding planners, decorators, and others. It is also possible to rent properties to host events or create places for business in VR.
In addition to collaboration, the Metaverse also opens up new methods of ideation and productivity. It also provides a 3D, realistic space where users can visually simulate their ideas, without the constraints of the real world.
For instance, a team working on a new pair of headsets can brainstorm in VR, create digital twins of headset parts, run tests, and finalize the design at a lower cost than physical prototyping.
These are some of the activities one can do in the Metaverse, and there are marketing and branding opportunities for organizations as well. Hope that now, you have a generalized idea of what we can do on metaverse.