NFTs and the Metaverse: The New Future?
Is the Metaverse the New Future?
What Does Operating a Business in the Metaverse Look Like?
Here are some indications of what the full Metaverse may look like:
- Roblox: This gaming platform allows users to create and play in virtual worlds. Creators can monetize games by selling assets through Robux, the digital currency of the platform.
- Fortnite: What began as a free-to-play multiplayer game quickly rose to popularity for its realistic gameplay. Over time, it became more of a virtual world, even as far as hosting a virtual concert with Travis Scott.
- Facebook Horizon and Microsoft Mesh: Facebook released Horizons Works, a virtual workspace that’s a competitor to Zoom and similar technology. Using Oculus VR, employees can collaborate and interact virtually. Microsoft offers a similar product, Mesh, that creates a “digital twin” of a physical workspace for virtual interactions.
- Decentraland and The Sandbox: Decentraland is a virtual world where anyone can build structures, such as theme parks or museums, and charge an entrance fee. Users can buy digital assets as NFTs using the native token. Sandbox is another gaming Metaverse that allows users to create and sell unique digital assets as NFTs, also with the native currency.
- Second Life: One of the older virtual worlds, Second Life launched in 2003 and allows people to create avatars to carry out real-life activities in a virtual world, such as shopping and socializing.
Why the Metaverse Matters for Business
The Metaverse is still new, but it should be on businesses’ radar. It offers plenty of business potential, including: