Limitless Opportunities in the Metaverse: An Interview with Matvey Diadkov

The crypto space was at its apex in the past year following Bitcoin's rally to a record figure of $69,000. The emerging asset class skyrocketed to a staggering market valuation of $3 trillion at its climax. While interests have grown in the speculative nature of cryptocurrencies, smart investors are exploring investment opportunities available in the Metaverse.

The blockchain-based economy has been split across several ecosystems, including decentralised finance (DeFi), non-fungible tokens (NFTs), and the metaverse, with multiple projects stealing the show.

One of the fastest rising crypto projects taking the space by storm is Chainers.io - an ambitious Metaverse project built on the Solana blockchain.

NFT's Stellar Year

Investors were mostly enthralled by Bitcoin and Ethereum, with both crypto giants posting 200% and 500% returns in the first quarter of 2021. However, the use of NFTs - especially for digitising digital arts - picked up steam following record sales by Beeple of the Everyday: 5000 Days' fame. These digital arts came with unique properties. They were non-fungible and could not be replicated due to their generic traits.

NFTs have since broadened into multiple industries with interactions in the music, gaming, and entertainment space. So far, NFT sales have continued to boom, with the sub-sector recording up to $30 billion total value locked (TVL). According to a report by Consensys, NFTs sales for Q3 2021 stood at about 34 million tokens.

With such an explosive year, NFTs have become a major player in the fast-rising Metaverse ecosystem. The Metaverse operates using NFTs as digital avatars. This way, users can easily move their digital collectibles across multiple metaverse projects as a form of identity.

Chainers and Redefining the Metaverse

The Metaverse was not widely known until Facebook CEO Mark Zuckerberg remarked on its potential. Intersecting between the virtual and artificial realities, the Metaverse is principally a computer-generated world that aims to create a whole new immersive experience for users.

The common medium for accessing this space has been using smart glasses or VR headsets. However, there has been a growing shift in how this budding industry can be tapped.

Several NFT and Metaverse projects now allow users to create and interact with in-game characters or avatars representing their digital identities. These avatars can participate in several in-game activities, change their wearables, and collaborate on several issues.

Chainers.io - an ambitious Metaverse project built on the Solana blockchain - is building a new experience for NFT and Metaverse enthusiasts.

The Metaverse has been touted as the likely step forward for human connection and collaboration. Projects like Chainers are building a strong presence and ensuring that everyone has a chance to tap into the huge potential the ecosystem offers.

Q&A with Matvey Dyadkov

In the most recent AMA session, Chainers CEO Matvey Diadkov shed light on the Metaverse and the investment opportunities the blockchain-driven economy offers.

Starting the Q&A session, Diadkov noted the limiting beliefs surrounding the Metaverse and the changes that have occurred since cryptocurrencies came into play.

"The current, most popular ideas of the 'metaverse' we have today could be described simply as a place that one can visit via smart glasses or VR headsets, where you find yourself in a computer-generated world - a forest or a beach, maybe even your office," he noted.

Humans, being social animals, have found a way to stay connected, turning to the Metaverse to meet loved ones, play and complete tasks. Today, more people collaborate on projects online and in real-time, without needing a physical meeting, thanks to the metaverse.

Despite these milestones, Diadkov noted that the metaverse is still in its infancy, and more projects offering access to this space will crop up.

Real-world Value Derived Virtually

Critics of the crypto space have pointed out the impracticality of getting real value for activities completed online. However, the Metaverse has addressed this issue. Diadkov points out that the first step to accessing the Metaverse is owning NFTs.

These digital collectibles allow users to extend their personalities across multiple platforms with their unique traits traded on several secondary markets.

"One noteworthy thing about crypto-based metaverse projects is that you can earn tangible resources and assets in the metaverse, which can be exchanged for other digital and real-world goods. It's the intersection of gaming and finance", he pointed out.

In this, he is not wrong. So far, more gaming companies are already pivoting to the crypto space. Epic Games recently partnered with blockchain-gaming protocol Gala Games.

Reasons to Invest

Much like the crypto wave that swept the financial space, the Metaverse is the next big thing in blockchain technology. The potential of the nascent sub-sector was recently captured in a report by global consulting firm Mckinsey & Company.

According to the consulting firm, global expenditure in the metaverse could hit $5 trillion in 2030. This potential is not lost on Diadkov, who pointed out a few reasons investors should invest now that the competition is not yet stiff.

• Multiple Investment Openings

While the stock market is hitting a price ceiling, the Metaverse-and, by extension, the crypto space-is just getting started. The burgeoning space has an investment opening for everyone. Users can easily invest in the Metaverse token of their choosing, buy NFTs, or purchase a Metaverse exchange-traded fund (ETF) like the Fidelity MSCI Information Technology Index ETF.

• Lower Barrier of Entry

The conventional financial landscape is largely populated by investors with deep pockets. This is not the same with the Metaverse ecosystem. Diadkov notes that anyone can "invest any amount, even if it's just USD 1"-much like the broader crypto market. This essentially promotes inclusiveness: a principal idea surrounding the launch of Bitcoin in 2009.

• Cheap Tokens

Presently, several Metaverse projects are going for a bargain. Users can easily buy project tokens for a cut-price and later sell them off for a profit in the secondary markets.

• Emerging Market Space

The internet and Bitcoin were largely written off when they made their appearance. However, both have fostered a whole new financial landscape. The Metaverse is currently at this stage, and forward-thinking investors are making moves to secure a positional advantage for the future. Diadkov states that Metaverse could follow in the footsteps of Bitcoin and is the "next big thing."

• Tech Giants Are Making Moves

Some names like Nike, D&G, PayPal, and Facebook already recognise the huge potential inherent in the space. More companies are set to make the transition.

Conclusion

The Metaverse may sound like a foreign concept for mainstream investors, but the space is quite easy to step into. Interested investors can easily buy a metaverse token and store it in anticipation of a price surge. An alternative option is to invest in early-stage metaverse projects like Chainers. Whichever option investors will deviate to, the metaverse space is set to become a platform where new economies and applications are built. Just like the internet back in the 90s.