The Metaverse is a virtual world that people can access through virtual reality equipment and technology. People can create avatars of themselves in the Metaverse, communicate with others, and visit different virtual places inside the Metaverse.
Now the Metaverse has even opened the opportunity for investors to purchase virtual lands in the Metaverse using crypto currency. A while back Justin Bieber had a concert in the Metaverse where he performed songs off his album “Justice” to worldwide audience in his avatar form.
During Justin Bieber’s concert not only was it monitored by his fans but also by investors worldwide who took interest in the Metaverse and started buying lands, malls, arena’s, and even housings as an investment for the future. Seeing as the Metaverse is formed in the form of various digital realms like in video games it becomes easier to do events online such as concerts.
Although there is a boom of investors interested in buying real estate property on the Metaverse these are still speculations that have not yet been confirmed. But with the predictions of technologists that the Metaverse will be so integrated into our life like the email or social media is promising.
The amount of transactions over the past few weeks over the real estate in the Metaverse has increased rapidly like in October a company called Tokens.com has acquired around 50% of the real estate on the Metaverse Group paying around $1.7 million.
Tokens.com built a tower in Decentraland in the Metaverse and is optimistic because top brands like Gucci, Burberry, and others also entered the Metaverse and there is potential for Token.com to sign leases with the brands and generate revenue as well as get paid to advertise for them on the tower.
The Metaverse itself was introduced in 2021 but prior to that there were many virtual reality worlds that have been around such as animal crossing, and roblox. The virtual reality worlds focused on the gaming field while also allowing the individuals to have an avatar and build their own living environment.
Before the virtual reality gaming worlds there was a very popular Metaverse game that Coca-Cola placed its advertisement in. Virtual reality has been around for a long time and the Metaverse uses the same technology along with augmented reality and other advanced techniques as well.