Crypto Gaming Is EXPLODING! | Watch Out For The Metaverse
A recent development has opened up a whole new world of potential for savvy investors looking to make some money and it’s called, wait for it, The Metaverse.
Picture a world where you can buy and sell digital versions of anything you want. This could create entirely new ways to invest and build wealth.
This idea was first introduced in a book called “Snow Crash” by Neal Stephenson in 1992, but it’s only recently become reality after Facebook announced its changed its name to Meta and are working on their own version of the metaverse. But Facebook isn’t alone as there are many crypto and NFT projects aiming to create metaverses.
This sudden movement towards virtual worlds doesn’t come as a surprise to me, as people are using tech more than ever, it took 55 years for 80% of us to use cars, it took 28 years for 80% of us to use PCs, it took only 14 years for 80% of us to use mobile phones, and at this rate of adoption, the metaverse could be right around the corner.
This is all very exciting for investors as the concept of a metaverse seems like the next big money-making opportunity, so today let’s discuss exactly what a metaverse is.
Why it could be the next big thing, what you should be looking out for and how to get involved and make some money because after all, that’s what you’re here for. Why else would you be reading a post by a boomer like me other than to make some sweet profit?
The first way to profit from the metaverse is NFTs and crypto coins. As many of you are probably aware, NFTs are the latest craze in the crypto world.
I’m not joking, people are literally making millions of dollars selling JPEG images. I don’t think these kinds of NFTs are very sustainable as they don’t have any real world use. However, I’m not dismissing them entirely. Moving forward, I believe there are a very important aspect to making money from the metaverse.
Just think about it, people already value digital items in games, such as Fortnite. We notice as they transfer real money into V-Bucks in order to buy virtual skins, these skins don’t even make them better at the game, they are purely used as tools to flex.
This is very typical in the gaming world. Players just accept that they pay for items that have no real world value.
However, this doesn’t have to be the case in crypto gaming as items are in NFTs, this could bring power to the players as you’d be able to resell your digital items for real money, or maybe even make a profit.
But this is only the tip of the iceberg. The metaverse is so much more than a game, it’s a whole universe where you can work, socialize, and play, all at the same time.
You can literally buy and sell the digital version of anything you could ever imagine. This reminds me of the film “Ready Player One,” everyone was plugged into a virtual world called the OASIS and they were spending real money on skins, gadgets, and tickets to virtual parties.
This will be like combining the designer clothes industry with antiques that increase in value, the potential is massive. Of course we’re not there yet when it comes to the metaverse and there’s obviously a long way to go, however, it could be absolutely great for crypto gaming and investing.
The sad thing is so many players have poured money into games for skins and loot crates only to stop playing the game when the new version rolls out, I mean, what a waste of money? But if these items were NFTs, you could explore the metaverse, find exclusive items, level them up, and then flip them for a profit.
Interestingly, since Facebook changed the name to Meta and revealed all their future plans, the price of some crypto game tokens have skyrocketed as people are really started to get behind the idea of a digital universe.
The biggest 24-hour price changes came from StarLink, which went up by 126%, UFO Gaming which increased by 49%, and Wilder World, which saw a 31% increase.
So even though these metaverses aren’t fully up and running, you can still make money trading these game tokens before they explode in popularity. Don’t get me wrong, I’m not saying that these coins currently hold any value or promoting them in any way, but it’s clear their prices are being driven by lots of hope for the future.
So the simple fact is, if you had invested before Facebook dropped their huge metaverse bombshell, then you’d have made some nice profit as crypto and gaming combine and expand.
I’m sure more coins, NFTs and concepts in general will arise, it’s still early days, as you very well know, the investors that get in early gain the first mover advantage, but they also have to navigate turbulent times.
The second way to make money from the metaverse is with virtual real estate. In a virtual universe, it makes sense that there will be also the opportunity to buy virtual land.
Now this is getting ridiculous, virtual land! What’s the point of that? Well, you could rent it out for events and earn passive income or even sell it after it goes up in value.
If you don’t know what I mean, allow me to explain. Have you ever been playing a game with a base cap or home that you spawn into every time you load a game? Well, imagine your base being made up of items from your real home, amazing views, and even things that aren’t even possible in the real world.
Well, that’s what Facebook are trying to achieve with Horizon Home. Once you log into Horizon Home, you can invite your friends over, hangout, and even watch movies together.
I know what you’re thinking, why bother with all these virtual worlds when you can just go around your friend’s house? Oh, for the most part, I’ll completely agree.
Oh my goodness, this is the end of the world. Kids spend enough time on their phones, now you’re saying there will be visiting friends in virtual reality games too, kids are just gonna waste their life away. Well, yes and no. It all depends how often and for what reasons people decide to use the metaverse.
The difference between a crypto metaverse and a normal game is that you would actually own the land and therefore, as I previously mentioned, this land could go up in value and be sold for a profit.
This is actually currently happening with the crypto game, Ember Sword, who recently announced it was selling virtual land slots and received a pledge of $203 million from gamers and this came from 35,000 people submitting applications to buy 6,000 plots of land.
Owning land in Ember Sword gives gamers the opportunity to earn cryptocurrency from any activity on and around their virtual plots of land. There’s no way out I’ve ever thought this would have existed, virtual landlords, crazy times.
Thirdly, let’s discuss augmented reality as this is where I see the majority of value coming from. Knowing how this technology works will give you a huge advantage.
You will be in a much better position to make smart investments that pay off nicely in the future. Just imagine you knew about the iPhone before it exploded in popularity, you could have made a fortune off the back of that knowledge. Every time I watch “Iron Man,” I’m always amazed at Tony Stark’s interactive hologram technology. This is how I see us all work in the future.
I mean, at the moment, we have to rely on Zoom, but let’s be honest, that’s not the best solution as sometimes you’re sat in a meeting with 10 people on a screen in front of you and you can’t even see them all.
Imagine how easy it would be just to look around a room and see everyone there interacting with each other, just like the Jedi High Council. This would be a really great tool for working from home and seems like the perfect next step from Zoom. It could even be the future of surprise parties.
We’ve talked a lot about virtual reality when it comes to the metaverse, but I have to say augmented reality, which is when digital elements are added to the real world, it’s more, more straight.
I believe it will also be a necessary stepping stone for a lot of boomers like me to fully embrace VR. Imagine you could wear some normal looking glasses, like these, and have a virtual computer set up in front of you that’s cost a fractional price, it’ll be so useful.
Currently Facebook has launched a software that allows you to meet in VR called Horizon Workrooms. This can be currently accessed with the Oculus VR headsets.
But there’s certainly a long way to go before we be like Iron Man. There is a bit of an arms race at the moment when it comes to this technology, with Microsoft interested in the space.
I find this so exciting as time is our most precious resources, by cutting down on our daily commute to the office, we can really gain a lot of it back. This could give you extra time to start a side hustle or even take a virtual gym session with a real instructor appearing in your house, as a hologram.
It also goes without saying, if this is how we work in the future then companies that manage to crack it first and come out with the best products will grow drastically.
This means if you invest wisely, then you might be able to benefit from this incoming wave of technology innovation. But as we march close to this interconnected metaverse we need to address the looming problem of data control.
The pandemic has caused us all to rely on the internet more than ever before and if you think about it, that’s exactly where the big tech companies want us to be. Facebook already owns Instagram, WhatsApp, and Oculus, which gives them ownership of our friends, our behavior, and even our eye movement.
Even YouTube controls which videos are recommended to you. Tech companies have so much control over our opinions and behavior as they’re able to slightly tweak our reality in order to get the response they desire.
Derren Brown, the famous hypnotist actually conducted a social experiment where he tweaked the social media posts someone was exposed to and actually managed to make him believe a zombie apocalypse was on the horizon.
If he can do that, just imagine how much power these companies have over our lives and even our voting choices. This is all because of the power of data. The metaverse could be a great opportunity to seize back control of our data or else we’ll just fall deeper into the big tech companies clutches.
Just think about how much data they will be able to collect with a whole metaverse under their control. The worrying thing is, what if this data is shared, sold, or even hacked? This would allow the metaverse to belong to everyone and not be controlled by corporate entities with hidden agendas.
I think that the argument between centralization and decentralization will be the deciding factor as to whether the metaverse becomes widely adopted and trusted or just branded as evil.
Decentralization is one of the reasons crypto, like Bitcoin and Ethereum are so popular. I get the appeal where sometimes the banks have even blocked me from spending my own money, they’ve got far too comfortable telling us what we can and can’t do. That’s why there is a lot of interest in crypto projects that are building decentralized metaverses.
Interesting crypto advances, such as zero knowledge proofs, make it easy to verify that you are who you say you are without giving up your sensitive details to big companies and trust in them to look after them.
A decentralized metaverse would also give us the ability to take control of our own data and even sell it to companies ourselves, if we want to make some extra money.
So we have to ask ourselves if we want the ability to make money from our data and digital assets, or are we prepared to give it away to the big tech companies looking to make huge profits?
EA Sports and Activision are already making well over $1 billion each from micro transactions, it’s in the game and what the players get to show for it? Some pay to win digital FIFA cards and “Call of Duty” costumes. That’s hardly giving power to the players, it’s simply big companies lining their own pockets.
Whereas with blockchain technology in play, people can control their own data and profit from it. So the general public don’t seem to be too happy about this metaverse and I have to say it, I can see where they’re coming from. There is a fine line between this being absolutely awesome and spine chillingly terrifying.
In my opinion, it’s a really interesting space to be investing in and I’ll be supporting a lot of these centralized crypto projects as I believe in a future where we, the people, are in control of the metaverse.
It is extremely hard to separate the real games and metaverses from the rug poles at the moment, which is shinning a negative light on crypto as a whole.
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