Possibilities of the Metaverse
Written by Robin Prock
The price skyrocketed. Users of Roblox traded a digital Gucci bag back and forth – and the price grew like a redwood tree. First it stood at $6 USD; and finally ended at $4,115 USD. The last buyer paid almost $800 USD more than for the REAL bag at Gucci.
Yet Roblox is not even on the blockchain. The bag was not even an NFT. But users bought it as if the bag was a new iPhone model.
What does this story show you?
More and more people are playing, talking and making money in the metaverse – and well-known brands like Gucci are discovering this world for themselves.
That is why in this article you will learn,
- what the Metaverse is and why you should not miss out on this future trend,
- amazing opportunities the Metaverse offers
- and an easy way to profit from the metaverse – without buying NFTs.
What is the Metaverse?
Imagine: You are standing on Mount Everest with Batman. Looking down on the desert from pyramid tops. Or soar through the air like a paraglider.
Only your imagination is the limit.
That is possible in OASIS – the digital world of the film Ready Player One. People flee into OASIS, because the cities have sunk into slums like the Titanic into the Atlantic Sea. In OASIS, they meet their friends, earn money and can even inherit everything when their avatar (character) dies.
But what does Ready Player One have to do with the Metaverse? Everything!
It is a performance of the Metaverse.
Wikipedia defines the Metaverse as follows:
"The Metaverse is a collective virtual shared space, created by the convergence of virtually enhanced physical reality and physically persistent virtual space, including the sum of all virtual worlds, augmented reality, and the Internet."
A more tangible definition is given by the Founder and CEO of Digitalax, Emma-Jane MacKinnon-Lee:
"A nebulous, digitally mixed reality with both non-fungible and infinite items and personas not bound by conventional physics and limitations."
Just think of the Metaverse as a parallel digital world where you meet your friends, develop and play games, create your own world according to your own thoughts, dress your character, shop, etc.
In short: Everything of real life is transferred to a digital world. And yet it remains connected to the real world:
At some point, you will order beer in the Metaverse; and the delivery service will ring the doorbell and press the ice-cold bottle into your hand. This world is being created right in front of your eyes – all you have to do is look.
But what are your advantages? What are the exciting possibilities that await you? And how can your wallet benefit too?
In the following I will explain 4 amazing opportunities of the Metaverse that companies are already using for their own benefit
1. The Metaverse is yours - and no one can take it away from you
"I cried myself to sleep, and on that day I realised what horrors centralised services can bring (...)" - Vitalik Buterin
Vitalik Buterin was 14 years old and World of Warcraft had just destroyed HIS world.
The developer Blizzard had – suddenly and unasked – changed and weakened the armour of his favourite character.
It took all the fun out of the game and showed him: You can never trust a centralised company.
True, this story sounds trivial ... a boy loses the power of his favourite character – who cares?
Yet there is a huge industry attached to it.
Digital gaming goods were already a 18 billion market in 2020 (Source: Statista), with the game Fortnite alone making more than a billion in sales annually.
But there is a danger lurking behind it:
If Fortnite closes its digital doors, your skins are gone, vanished like the waves on a beach. Over a billion dollars burned like the money pyramid in Batman, "The Dark Night".
The metaverse on the blockchain is changing that!
If you create an armour, skin, weapon, etc. here, it stays on the blockchain forever as an NFT – irrevocably. No one can take it away from you, steal it or bag it.
But not only that:
In "The Sandbox" you can design your own lands, develop games without writing a line of code and enjoy them with your friends.
You create your world on the blockchain. The game basically belongs to the community.
2. Big companies are now getting on board
"Now every company has a social media budget, it is a no-brainer. It will be the same with virtual budget." - Lindsay McInerney, head of Zed Run.
Atari, Binance, OpenSea, The Smurfs, Angry Birds....
...these are just a handful of brands that have already bought virtual lands in The Sandbox.
The virtual land is like the plot of land on which your house might stand – only virtually and on the blockchain. So everyone knows at all times: this piece of land is yours. And now companies are paying thousands of dollars for a piece of digital land. The digital real estate fund, Republic Realm, bought digital land in Decentraland for over $900,000 on 17.06.2021.
The highest price so far. But still the beginning.
Decentraland has been around since 2017 – The Sandbox only since 2018.
It is like hunting for good internet domains around the 2000s.
Most of the digital land has already been bought up; but still a lot awaits us.
3. Virtual Land is the real estate of tomorrow
However, it is not just big brands that can populate the metaverse like an anthill....
...the digital land is primarily intended for you and me.
Users are supposed to create their own world there, develop games and enjoy their free time. And of course, they can also generate profits with their digital land:
- You can sell it when it increases in value,
- You can rent it out and earn a passive income,
- You can arrange advertising contracts so that companies can advertise their products there (billboards, posters, video clips, etc.)
- Or you create NFTs (armour, trousers, T-shirts...) and sell them in your own shop on your land.
Do you already see your first customers strolling through the door? Think of it like New York’s Time Square – massive skyscrapers, pilgrimage crowds and house-sized advertisements... only everything digital and on the blockchain.
This is the future.
Because "real" land is already scarce and difficult to acquire (just think of the estate agent, paperwork, notary...), but you can buy digital land with low effort: After a few clicks, the digital property can be in your wallet, at your address and yours without objection.
4. The Metaverse becomes an Omniverse – Why virtual worlds connect like a Spider’s Web
If you get on the train right now, you can travel the whole world – be it the Eiffel Tower in Paris, the Himalayan Mountains or all the way to Niagara Falls.
Everything is networked and connected. And the Metaverse is working on it too – it is becoming the Omniverse: the "Everything Universe".
For now, you cannot carry your armour from The Sandbox to Decentraland; but that will change eventually. The Metaverse will be connected like a spider’s web, so there will be only ONE virtual world.
You see: an avalanche is rolling towards us and will bury the internet under a virtual world.
And maybe you would like to take part in this metaverse yourself? Maybe buy weapons, armour, coats of games as NFTs? Or buy land and rent it out?
Now, I will show you an easy way to profit from the metaverse:
Tell me, how do you evaluate an NFT? – And especially digital land as an NFT? How do you make sure it thrives like a vibrant city and does not end up like a lifeless dune in the Gobi Desert? Those who want to buy and value NFTs face huge challenges – a marathon of data, facts and knowledge that they have to run through one round at a time. But there is a simpler way! The MGH (Metaverse Game Hub) DAO (Decentralised Autonomous Organisation) will give you smooth and fast access to the Metaverse and NFTs. How will MGH do it?
1. NFT Pools – the name says it all: Pools full of NFTs
Do you know the Synthetix protocol? There you deposit the native token and get a derivative on oil, gold, Tesla....
That is how you trade gold on the blockchain – without having to hold a lump of gold in your wallet.
MGH will work similarly:
Via a synthetic NFT Pool Token (NPTs), you track the price of multiple NFTs (combined in an NFT Pool) and profit when they rise in value.
This pool contains NFTs such as digital land from "The Sandbox", "Decentraland" and later there will be other Pools containing NFTs such as art, music... And again: you do not have to hold, value, analyse, track, buy NFTs manually... no: It is(nearly) like holding an index of NFTs.
2. How to Earn Passive Income on Your NFTs with NFT Pools?
Be honest: What good is an NFT to you? Maybe you love the story behind it? Maybe it boosts your ego to own such a valuable piece? Or maybe it connects you to a brand you love? But often you just hold it and hope it goes up in value – that is all you can do. How about earning a passive income on it?
For this, MGH develops NFT Pools (NPs), where you can stake your NFT.
So not only do you hold NFTs, but you also earn network rewards with them during the holding period. In order to access the Pools, you must stake MGH Tokens in the MGH Staking Pool and mint NFT Pool Tokens (NPTs). These NPTs reflect the price of the pool — so you benefit from the long-term appreciation of the NFTs without having to hold them yourself.
Not a bad deal, right? We will explain in detail how this works in later posts.
Lastly, MGH is also working to transform the Metaverse into a thriving, vibrant and breathtaking world....
3. Captivating games for "The Sandbox" – cooperation with MyReality DAO
What is digital land where nothing stands?
It is like a party which nobody wants to visit.
That is why there are development studios like MGH’s professional partner MyReality DAO, creating revolutionary games for "The Sandbox" to breath exciting life into it. It is only with games like those from MyReality DAO that the metaverse becomes a party where people go and queue up willingly.
Conclusion
The metaverse is becoming a second world where people spend their free time, shop, have fun and meet their friends. That is why companies are buying up digital land right now and building the world of tomorrow on top of it. But the metaverse is not just a world of fun – it is also a world of investment:
Metaverse Game Hub DAO (MGH DAO) will make NFTs, in the beginning virtual lands, more accessible with state-of-the-art NFT Pools.
NFT Holders can earn network rewards by staking their NFTs and people who want to participate in the NFT market will have convenient access to it.
Either way: You profit from the emerging NFT space without just buying and holding them.
Learn more now and visit MGH on its website!
