Metaverse Opportunities In 2022

Metaverse

Metaverse is a hot topic for 2022. So many major brands are flocking to this space to build up the next frontier of the Internet. We are talking about major brands like Nike, Facebook, and according to rumors Apple as well. There’s gonna be huge opportunities for normal people to make millions of dollars of this trend.

And in today’s article, I want to talk about what’s in store for the Metaverse in 2022. What the opportunity looks like in the Metaverse.

By the way, if you don’t know what Metaverse is, then first please go through this –

https://techwithandy.online/metaverse-what-is-metaverse-metaverse-technology-metaverse-stock-metaverse-news/

Although I will also explain a bit about it in this article.

What is Metaverse?

So let’s start with some basics in case you’re wondering what even is the Metaverse in the first place? Well, basically it’s embodied Internet that’s powered by Augmented Reality(AR) and Virtual Reality(VR). But it’s ultimately made possible by Blockchain technology because the whole idea is it’s an open world that nobody centrally owns. And the only way you could do this is to use Blockchain.

What is Blockchain?

Let’s take a look to understand Blockchain. What could we be talking about here? Well, if you read the definition of Blockchain technology, you will realize that it’s an open-source, peer-to-peer network that allows for users to transfer data between each other in a trustless and secure way.

Metaverse in 2021

2021 was already a huge year for the Metaverse. We saw Facebook rebranded to Meta. You know that parent company that owns Facebook, Oculus, Instagram, and WhatsApp. We sell the Metaverse keyword bubble up to mainstream awareness.

VR
VR

So what can you do with it? Like why does it even matter? Well, I truly believe that we’re just scratching the surface on what’s possible with the Metaverse. Right now a lot of what’s happening are immersive experiences like I’m talking about with AR VR but virtual worlds, where we’ll be able to play games, have social experiences, go to concerts or events inside the Metaverse. And a lot of where the opportunity lies is to essentially own land or items that will be valuable to the Metaverse. So that’s a lot of what’s happening, so you know what is the Metaverse, what’s happening now? What’s this big push into expansion?

Well essentially the Metaverse is being colonized. We can see lots of major brands entering this space. Trying to create this new world. Some people are going into actually own items in Metaverse and build on top of them that will be valuable.

Examples

You might have heard or seen this news that Snoop Dogg is developing a Snoop verse and someone just bought a property with his virtual world for almost $500,000. An NFT collector spent under half a million dollars for the privilege of becoming Snoop Doggs’s next-door neighbor(In the Metaverse).

Opportunities for big companies in Metaverse

So let’s talk more about the big opportunity and how to capture it inside the Metaverse. Like I said earlier major brands are jumping into the space because they see this massive opportunity. You know, Facebook is rebranding their company to Meta which owns Facebook, the social networking app Instagram, Oculus, the VR headset, and at a few other companies as well. Oculus is the VR wearable are wearable that Meta owns and 2021 Oculus sales so more than Xbox from Microsoft. So AR and VR technology really has an inflection point. That is what is really important. You know it’s a big part of the body Metaverse is taking off in the first place.

Another company which really makes exciting is Apple. Okay, because they are rumored to release a virtual reality or augmented reality wearable in 2022. Now again this is not confirmed. But it’s just a distinct possibility. And they hold the power to onboard lots of other people into this space. So that’s what these big companies are doing and their big opportunities.

But now let’s take about us, the normal people, and the opportunities that Metaverse has for us to prosper in this world and even make millions!!

Opportunities for us in Metaverse

So one reason that this is so crazy is because of the decentralized nature of Blockchain technology. or essentially it’s an open playing field where lots of different people can participate. We have major players entering the space like Nike, Apple that we talked about, and we also have individuals. Now of course some will have advantages one over the other. But the whole idea is if we are really colonizing a new world with a Metaverse and there’s an opportunity to front-run this opportunity, then you have a level open playing field that didn’t exist with all the major opportunities in the past.

You don’t have to be an accredited investor. You are allowed to go in here and actually participate in this. Now of course this is not easy. Over there you’ll be competing with other people, having lots of money. But for those of you out there who want to grind, hustle, take on risk all this type of stuff there’s are a legitimate opportunity.

There’s of course, no guarantee to success. You could fail, but there’s a wide-open gate on a big trend that is taking off.

Future of Metaverse

 So it’s like about the future of Metaverse and where it’s likely to head. Because see that’s ultimately what you need to understand if you want to position yourself at the forefront of this opportunity. So we talked about some examples of what people are doing in the Metaverse right now. But I truly believe that we’re just scratching the surface on what’s possible with this new trend and this new technology. Okay, and we don’t exactly know what it’s gonna look like in his final form. Let’s breakdown of the fundamental characteristics of this space so we can try to envision what the future use cases might be like for the Metaverse to try to stay two steps ahead of this.

So you have to bring it down to essential components. Like Augmented reality and Virtual Reality. So if you know the difference, virtual reality is the fully immersive experience where you can’t see anything else and you’re just totally inside this world. And then augmented reality essentially where you blend the physical world around you. Because it’s an embodied Internet, you’re experiencing the Internet, you know, in three dimensions it’s made possible by Blockchain. Because you don’t want some central Company to just own the Metaverse. It’s supposed to be a big open space and you need a Blockchain to make that happen.

AR
AR

So we are at the critical point of AR VR technology being where it’s at right now, and Blockchain technology being where it’s at right now. These two things can actually come together and make something viable. So these are the characteristics both these things coming together to make an embodied Internet. They can give birth to a ton of new use cases that we don’t even know about yet.

NFTs in Metaverse

And the last major characteristic of Metaverse that I want to talk about is NFT.

You can take a look at what NFTs are here -> https://techwithandy.online/what-are-nfts-nfts-explained-in-detailed/

Now, this is a subset of Blockchain technology. They’re going to be a major part of the Metaverse because that’s what ultimately allows you to own lands, to own items in the Metaverse. Lots of major brands are also entering into this space. We’ve seen OpenSea and all the crazy activities that they’ve had on their platforms over the past few years.

Coinbase is also launching it’s NFT platform. The same thing for Shopify, one of the major e-commerce retailers that’s allowing people to set up shops on the Internet. So it’s creating the functionality to let Shopify merchants do NFT drops on top of their platform.

So these are basically some use cases and opportunities available in the Metaverse right now. We’ll be able to see lots of new things coming in the future that we can’t even imagine.

This was it for this article. I hope you get something new to learn. If you do, make sure you share the article.

Note: Images used on this website are from – https://pixabay.com/

  1. https://techwithandy.online/meta-loses-230-billion/
  2. https://techwithandy.online/how-to-make-money-in-metaverse/
  3. https://techwithandy.online/geeksforgeeks-best-platform-dsa/

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