Why companies are investing in the metaverse, and should you?
The metaverse is now a billion-dollar investment opportunity. Some even say that someday in the not-so-distant future, the metaverse will replicate the real world. Everything that we can do in the virtual world – specially how we meet, and socialize with people.
Big Money Meta
If you thought investing in the real world was hard. Investors need to get their heads around the metaverse too.
The metaverse has also transformed the economy in many ways. Investing in blockchains, and building an environment for moderate and high riskers. The global metaverse market is forecast to grow to US$ 848.8 billion by 2030.
Investors are not only investing in crypto and NFT. They are also buying properties on metaverse. Premium properties at a location where you are a next-door neighbor to American rapper Snoop Dogg. Not any location but one that is designed by the iconic rapper himself? This property is like the physical property that comes at a cost. Last year someone paid $450,000 to be Snoop Dogg’s neighbor in the Snoopverse.
How industry in India is reacting to Metaverse
In India, a popular Punjabi singer Daler Mehndi bought land in the metaverse. He named it Balle Balle Land – where he hosts concerts and connects with fans.
Pooja Entertainment is a production house founded by film producer Vashu Bhagnani. They recently announced purchasing its land in metaverse titled “Poojaverse”. It is a spot to create first of its kind immersed experience for its viewers.
“We intend to make Poojaverse the absolute go-to space for quality entertainment. And also for various aspects of filmmaking in the digital world.” says producer Deepshikha Deshmukh who is also the non-executive director of Pooja Entertainment.
Big Corporations make a move on the metaverse
Thousands of people and corporations have spent millions of dollars to buy land on virtual platforms. Platforms such as Sandbox and Decentraland. The metaverse has seen several big-ticket entrances. Companies such as Adidas, Samsung, JP Morgan, and HSBC.
While crypto enthusiasts already have their eyes set on metaverse. Now cooperate and investors are showing their interest in the new digital as well. By 2030, it is said to become an $800 billion market Industry. Tech giants such as Meta (formerly Facebook), Microsoft, Apple, and Google. These companies are investing big money to make this reality.
“In 2021, the real estate sales of four major platforms reached $501 Million and it could reach $1 Billion. Platforms such as Sandbox, Decntraland, Cryptovoxels, and Somnium.” said a report by MetaMetrics Solutions a company that deals with metaverse data.
Facebook founder Mark Zuckerberg said it’s “the next frontier in connecting people.” This is why he rebranded the social media platform as Meta last year.
McDonald’s has recently filed for a ‘virtual food delivery’ trademark. Where you can order food within the virtual world and get it delivered in the real world.
Many brands and corporations are investing in technology. Technology will contribute to the advancement of the metaverse. These technologies will also help ditch the VR headsets.
Ray-Ban is collaborating with Meta to create smart glasses. Imagine if bulky VR headsets can be replaced by something like contact lenses you can wear all day long. Oculus, owned by Meta, is the leader in headsets, while Nvidia is the leader in GPUs.
Gaming industry holds the pillars
The gaming industry has progressed at an incredible rate over the years. Also, metaverse has taken it to a whole new level. It is making the virtual world real to the users. Microsoft could be another metaverse winner. As it owns Minecraft, the most popular video game of all time. Gaming according to the expert will dominate the AR-VR investments. This will also drive the metaverse growth.
These are still early days. One must spend time trying to understand what is happening. Along with that identify potential opportunities to invest in.
We at Lapsus Next have worked on multiple creative meta projects in platforms such as Sandbox and Decentraland and with our personal experience, we can definitely tell you that this might be the perfect time to start investing in the metaverse.