What is the metaverse, who are the key participants in its development, and why do investors need to pay attention to this megatrend in technology right now?
Have you recently heard the term “metaverse” being bandied about? Most likely, you have. When Facebook formally changed its corporate name to Meta and released an hour-long instructional video, the buzz surrounding this comparatively new term began to grow. But what really is the metaverse, beyond the hype?
A Fact that You Contribute to Making!
The term “metaverse,” which was first used in a science fiction novel from 1992 that described a virtual world where humans lived in computerised avatars, now denotes a vast network of real-time online 3D environments and simulations. Practically speaking, the metaverse is meant to be the next evolution of social media, where the majority of us already connect for both work and play. Imagine being able to meet up with your buddies in a virtual bar (or boardroom) utilising digital avatars, as opposed to communicating through a largely static two-dimensional platform.
The metaverse is a brand-new virtual reality environment that is currently being developed. Its enormous future potential is what makes it so interesting. In the metaverse, users have the power to produce their own user-generated content about pretty much anything they can think of. The metaverse, a digital realm that merges virtual and real reality, will be the setting where the adage “if you can dream it, you can do it” will be true and have the power to alter how we live and see the world. And this is just the start…
Substantial Development Potential for Virtual Trade
Analysts forecast that the metaverse might grow to be a $800 billion business, with some even speculating that it could reach $30 trillion or more, with a significant impact on a wide range of industries. Global leaders in technology, entertainment, retail, digital payments, and other industries are already paying attention to it. The amount of technology needed in the background to support the complete metaverse infrastructure and connect individuals virtually is enormous.
Smart phones, gaming consoles, virtual reality (VR) headsets, and augmented reality (AR) glasses are a few examples of physical devices that let users connect to virtual worlds. As the metaverse develops, the number of such products is expected to grow as well.
The fundamental technology required to make everything function comes next. High-performance semiconductor processors, advanced 3D computer graphics, cloud infrastructures, connectivity, and software — loads and lots of software.
The metaverse is developed on top of decentralised blockchain-based platforms that can support an endless number of rapidly expanding virtual environments. Content creators, particularly well-known, beloved real-world brands who offer immersive digital versions of their goods and services, are the next step in the evolution of virtual living. Of course, there is also virtual money (often known as cryptocurrency), because how else would one pay for virtual things if not virtually?
A potential-Rich New Frontier
You probably have a better idea of how vast the metaverse’s vision is, how far-reaching its impact is, and how immense the potential still is at this point. Now is your chance to invest in the metaverse as it is still in its infancy and become a pioneer in this fascinating new realm.
How can you start to tap into the enormous potential that this technological advancement offers, though, with the metaverse involving so many different components and having so many players? How do you decide which assets, or even which industries, are the best places to put your money?
Diversification is the best strategy for building a strong portfolio that can encompass top trends while reducing risk, as experienced investors are aware. That is precisely why eToro developed the Metaverse Life Portfolio, a single investment tool that brings together all facets of this ground-breaking trend—stocks and cryptocurrency—in one location. By using the eToro Smart Portfolio concept and combining several assets under a single plan, MetaverseLife provides diversified long-term investment in this revolutionary technology with no hidden costs or management fees.
Visit us on: www.bitcoiva.com