With the recent announcement by Facebook CEO to rename its name to Meta, people have become curious about the Metaverse. The metaverse is a combination of different technological elements that include augmented reality and virtual reality which enable users to create experiences on a virtual platform. It allows users to shop, work and do other activities in a virtual environment. To make this a reality they need a currency that they can use to transact in this “new world”. This is what have the metaverse coins are solving.
There are many investment opportunities in the metaverse world ranging from metaverse coins and NFTs. The most common ones are Axie Infinity, Decentraland and Sandbox. Just as coins like Bitcoin took years to gain the traction they have now, I believe we’re still very early in the metaverse. Most of these coins have had a huge run of over 100x already but we’re in the awareness stage as most people have not adopted these projects yet. When Facebook fully enters the metaverse, the run will be insane because the common retail traders will fully enter the market. There will also be many newbies who will be curious to explore this market. This will spike a huge run.
With Generation Z (born 1997-2012) and some Millennials (born 1981-1996) having a good exposure of the internet, they prefer meeting, working and interacting online. This has been a good driver to the embracement of online metaverse games. People can game and earn online using their computers or laptops without the need to meet physically. As this generation is getting older and getting into different fields like workplace, managerial positions and governance there will be a huge shift in how people interact online using the metaverse.
Investors should be very cautious when choosing metaverse projects as with such a narrative there are many scammers with scam projects who want to take advantage of the hype. As such it is important to do a research on the project developers and what they are offering.