The Metaverse Is The Web3 Wave That Democratizes Buying And Building Real Estate, Hosting Fashion Shows, And Monetizing Video Gaming

We are in the early stages of a relatively new breakthrough innovation. The metaverse is the next wave of web3 that changes the way we socialize, work, play video games and interact. Soon we will see the start of the business, the construction of office buildings, meetings for remote workers and job interviews conducted in virtual reality.

Digital commerce in virtual reality will increase, especially on the occasion of large companies such as Walmart they are diving. The large retailer plans to sell products virtually, ranging from electronics, home décor, toys and games for children, sporting goods, personal care products to physical training services and courses. of health and nutrition in augmented and virtual reality.

They are not the first merchandisers to do this. It is becoming a gold rush for apparel retailers and manufacturers as they are turning to virtual reality and don’t want to be left behind. CNBC reported that the German sportswear company, Adidas, released NFT and bought land on the VR sandbox, a virtual real estate company. Luxury fashion house Gucci collaborated with Game creator Roblox to sell items. Balenciaga made a deal with Epic games, the creator of Fortnite, to offer items that can be purchased in virtual stores. Louis Vuitton created Louis The game showing its high-end brand.

Nike acquired a digital sneaker company RTFKT, a famous metaverse company that has a line of sneakers. An 18-year-old artist from the group sold more than $ 3 million in virtual sneakers in under seven minutes.

Google, Apple, Microsoft And Half are in a heated race to bring their VR / AR headsets to market at an affordable price for widespread consumer adoption. However, you may be able to participate and enjoy the metaverse without using glasses and other gear.

To learn more about the metaverse, we spoke with Andrew Kiguel, CEO of Tokens.com, one of the first real estate investors in virtual reality. The former investment banker recently made headlines with his firm’s purchase of real estate in the fashion district of Decentraland, paying about $ 2.5 million for the space.

Kiguel sees the future in the metaverse. In an extensive interview with the tech executive, he points out that a confluence of events set the stage for the rapid advancement of virtual and augmented reality to become widely accepted.

The pandemic has kept us indoors for two years and it’s not over yet. We have gotten used to new technologies and rely heavily on and use existing software, apps and platforms from the comfort of our homes and apartments. Youngsters, who came home from school while their classes went online, spent time playing and interacting with their friends on Discord and social media. We’ve all happily turned to the internet for our food and supplies to be delivered to our home immediately from Instacart, Amazon, DoorDash, and a host of other apps that have made it easy for us to work from home or anywhere in the world.

Getting comfortable with new technologies, people have decided to buy and trade NFTs, meme stocks and cryptocurrencies. Blockchain and other software and platforms have democratized the stock market. While investing was the prerogative of older people who had the money, young college students and millennials saw the opportunity to trade YOLO in stocks, options, Bitcoin and cryptocurrencies as a way to earn enough money to pay off their student loans. and afford a better home and lifestyle.

As the pandemic spread around the world, companies shut down and sent workers home. We spent our days in Zoom meetings. To the surprise of the CEOs, workers were highly productive and stock prices hit all-time record highs. From an initial wave of layoffs and layoffs, the economy has recovered so strongly that companies can’t find enough workers. The past two years have set the stage for the acceptance of virtual reality.

Kiguel says, think about what it would have been like for your ancestors to buy land in New York City a hundred years ago and the generational wealth it would have created. You don’t even have to go that far back. In the early 1970s, New York City was tormented by crime, falling apart and ready to file for bankruptcy. An intrepid real estate investor in the Big Apple could have bought top-notch real estate for next to nothing and would now be a multibillionaire. Taking a risk right now, putting your claim in the metaverse, could pay off a lot in the future.

In the metaverse, you can buy NFTs, develop buildings, play video games, attend concerts and events, and create activities. It’s a way to start over. People who want to live virtually close to Snoop Dog The sandbox shelled out nearly $ 500,000 for the privilege and access to the rapper, his parties and concerts.

Kiguel’s $ 2.5 million investment in space a Decentral, one of the largest developed lands in the metaverse, sets the stage for trade of all kinds. Kiguel is confident his investment will pay off in the long run. As millions, and possibly billions, of people join the metaverse, it plans to host a lavish fashion show March 24-27, highlighting major fashion brands that may include Gucci, Burberry, And Louis Vuitton. There will be avatar models, runways, pop-up shops, and pre and post parties.

Your company can sell advertising to these other brands and try other means of monetizing its real estate holdings. These high-profile exclusive events were once reserved exclusively for a small segment of the rich and famous. Virtual reality opens up to all who are interested, as there are no physical limits to the number of participants.

New York-based digital real estate developer Kingdom of the Republic paid approximately 1,295.00 in crypto Mana, equivalent to $ 913,228, for 259 packs of Decentraland with the aim of transforming it into a virtual shopping district. The area will be called Metajuku, in homage to Tokyo Harajuku shopping district. Kiguel also plans to build towers in Decentral‘S Crypto Valley and in other cities that arise in the metaverse and rent offices and commercial spaces.

Mark Zuckerberg, CEO of Half, makes it feel like it is executing the metaverse. This is not the case. There are many places to go. Each universe uses its own preferred currencies to perform transactions. For instance, The sandbox uses SAND, And Decentral has WHERE IS IT. These virtual worlds are built on blockchain like Ethereum And Solana.

Current social media platforms are like “prisons,” Kiguel argues, as the companies that run the sites have all the control, own the data, and reap the rewards. The new wave of Web3 will change the rules, giving people control over their creativity. It’s a fresh start to building something new, similar to the early days of the internet.

Kiguel is also excited about the growing rise of play-to-earn games based on cryptocurrencies. Game worlds like Axie Infinite allows and allows people to make money by playing. Many of these players have never even had a bank account and are now making more money than they ever imagined.

The metaverse will impact nearly every type of consumer technology, including social media, gaming, and fashion, Kiguel predicts. “Tokens.com is focused on bringing the most exciting growth areas, “and excited to enter this new game vertical with an acquisition. This is part of Kiguel’s goal to offer a” full range of Web3 exposure “while providing exposure to the metaverse. , DeFi and NFTS.

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