Metaverse
(Photo : Metaverse)

The metaverse is not that new, as the concept has been around for decades. It is a digital world similar to ours, up to an extent, where we can dwell, hang out, and more using our avatars.

The term became popular with the invention of blockchain, as metaverses offer something that wasn't popular before: a virtual world with digital ownership. In other words, people can buy in-metaverse items, properties, and more, i.e., non-fungible tokens.

Why Do Big Companies Want to Explore the Metaverse?

Metaverses have existed in the form of MMORPGs, but the main difference is that the owners of massively multiplayer online role-playing games and everything in them are the companies that made them. The creator creates and stimulates the economy, and they can affect it however they like. In the metaverse, everything is blockchain-based, and the owners of in-game (in-metaverse) items are the only ones who can decide what to do with them.

Why did this attract the big players? The same thing that always attracts them: profit. Many companies saw an opportunity to explore the scope of their businesses and offer people a chance to become part of their respective metaverses. 

This is a great marketing strategy for many of them. Imagine entering the metaverse and exploring the clothes you want to buy in a virtual environment: how cool would that be? Perhaps you could buy them for your avatar and be their actual owner. 

Simply put, the business applications of a decentralized virtual world are enormous. Introducing virtual products and enriching the customer experience can really make a difference in how a particular business operates and makes a profit. 

Which Companies Are Exploring the Metaverse?

Facebook is the first company that comes to mind, as Zuckerberg immediately rebranded his company to Meta, perceiving the technology as crucial for the future of business. The team at Meta is already building this digital universe, and Zuckerberg introduced many possibilities, including virtual entertainment, virtual business meetings with our avatars, and much more.

Walmart is also very interested in developing a metaverse, and there's even a video offering a tour through a virtual Walmart space explaining how virtual shopping could work in the future. This is still very much in the domain of speculation, but Walmart is preparing something exciting, without a doubt. 

Adidas is also a company that has been successfully exploring the possibilities of NFTs and the metaverse, mainly to market the company's products. 

Are Investors Ready to Consider Investing in Metaverse Projects?

If Zuckerberg is so hyped about the metaverse concept, it's no wonder that many people and organizations with money are looking for various metaverse opportunities to invest in.

Recently, REALM received $10 million in funding from LDA Capital. REALM is a mobile-first play2own metaverse that helps its members express their creativity, play games, and socialize while making a positive impact on the real world. It also offers Metaverse as a Service, meaning individuals and brands can use it to create their own metaverses or "realms" without coding and monetization knowledge.

But this is just one of many examples of investors' interest in the metaverse.

Final Thoughts

The metaverse is improving with each passing day, as some of the most brilliant people are actively exploring possibilities and creating opportunities related to this emerging digital space. Powered by blockchain and other latest technologies, the metaverse has a lot to offer, and the big companies and investors are looking to seize all opportunities out there.

We still don't know precisely how the metaverse story will unfold. Companies are exploring metaverses and creating virtual worlds, NFTs, and various strategies for using them. One thing is for sure: the metaverse will be exciting to experience in the upcoming years, mainly because it will often be combined with VR/AR equipment and other new technology.

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