Metaverse: What should you know about it?


Posted November 15, 2021 by atozcrypto

We are going to discuss Metaverse and why it is becoming an excellent investment opportunity. Read this blog to know more.

 
15th November, UK: In today's article about Blockchain latest news and blogs, we are going to talk about Metaverse and what it means for cryptocurrency investors.

While the term was in the talk for quite some time, thanks to Neal Stephenson, and his novel Snow Crash, Mark Zuckerberg was truly its ardent propagandist. There were others too, but he deserves special mention.

In September, he mentioned that his company Facebook is interested in exploring the concept of Metaverse. We have recently given you the news about the name change. It's current name is Meta, but the applications are still retaining their old name.

Mark said that the Metaverse can be the best place and tactic to bring everyone, communities, creators, eCommerce in the same place.

Metaverse has the opportunity to become something very big and powerful. Fortnite and Roblox are proof that, as they are already household names in this context.

If you have played these games, then you know that you need to have avatars in the game. Apart from them, you probably have heard of Decentraland, Upland, Sandbox, and Victoria VR.

A lot of companies are willing to explore this concept, and they want to test VR and its applications. Tech giants like Facebook, and games creators like Epic Games (creator of Fortnite).

Recently, Fortnite raised $1 billion in an investor round. Sony alone invested $200 million in it. Facebook is not lagging. It's working on expanding the Horizon, the VR platform developed as a part of Metaverse.

Companies like Gucci are selling virtual bags, whose prices are more than their real ones. Other brands have already started the concept of selling products directly to Avatars (D2A).

For example, you have probably heard of getting virtual Jordan's in Fortnite (Nike), and virtual wearables from Coca-Cola in Decentraland.

According to a survey from Bloomberg, the metaverse's market size is worth $800 billion. This is a huge opportunity for investors with a tremendous growth rate.

From all these statistics, it's clear that VR will expand even further. It can even rival the popularity of social media.

If you are planning to invest in this Metaverse, then you can try Metaverse ETF. The ETF is currently at $74 billion, and already 41 companies have shares in it. It is available on the New York Stock Exchange (NYSE), and you can check it out.
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Last Updated November 15, 2021