Today, the described ideas are becoming more and more popular, and they can all be summed up in one term – web3.0. This allowed us to develop games that depict the idea of playing to earn (playing and winning). They have already started to integrate the economies of games with the economies of the real world, and players are now earning real money while in the virtual world. For example, in the game Axie Infinity, you can buy animals with the name NFT and you can potentially earn $1,000. Additionally, these games allow you to start new businesses, rent Axioms, or insure yourself against losing all NFTs within the game.
Metaverse has the potential to go further. This is an entirely new paradigm of interaction, entertainment, self-determination and self-awareness. Many of these multiverses are gaining in popularity. We may already be discussing Dental and/or Sandbox, where users not only work, but also earn a living. The metaverse is gaining quite a lot of momentum, cryptocurrency will be used as the main payment method for digital goods, and of course, keep in mind that the Huobi trading bot will greatly simplify trading.
Why did everyone start creating their own universes? In 2022, virtual reality will exceed the needs of the gaming world. The epidemic has made its own adjustments to the usual course of events. It is not known when it will end. Many companies switched to remote work – huge offices were emptied, the price of real estate fell. However, one thing becomes self-evident: we will not go back to the old way of life. As a result, all companies and investors’ attention is focused on the new digital reality.
We are already seeing that real estate and property in the metaverse are growing much faster than they are today in the physical world. Digital real estate prices rose 3,000% during the first half of 2021. The statements of the tech giants also make us think of a new virtual future. Metaverse Centrland has already announced its plans to create a metaverse for 2022. Global giants Twitter and YouTube have begun to master web3.0 and NFT technologies in particular.
Facebook has switched to Meta and is creating its own meta world along with other startups. In these realities, each individual will have a digital property and his own capabilities that allow him to work in the virtual world and get real resources. If you look at the latest news reports, you will notice that more and more companies are opening their offices in these metaverses.
Total revenue for virtual game worlds could grow from $180 billion in 2020 to $400 billion in 2025, according to investment firm Grayscale. According to Vantage Market Research, the metaverse market will grow from $43.4 billion in 2020 to $814.2 billion in 2028.
In addition to creating assets of real value in the digital world, companies continue to make profits from advertising traditionally. The events take place within Fortnite. Advertisers get a virtual world created just for them. And Creative Mode offers nearly unlimited possibilities to customize costumes, game plots, and even individual in-game worlds. The fashion house Balenciaga presented several options for equipment for the characters of the game Fortnite.
Coca-Cola and Tafi have created a range of NFT items, which includes a collectible jacket that the owner can “wear” in Decentraland. Gucci has opened a virtual gallery, Gucci Garden, on Roblox to celebrate its centenary.
Conclusion and future prospects
All this can be called globalization 2.0 – the combination of virtual economies and real economies. This will soon change the world forever. Fashion shows and rock concerts will take place in the virtual world and will gather billions of viewers. Companies will be able to open offices in Metaverse with a higher presence than the busiest streets of Moscow. We will work on real projects and existing products in the future only in definition. Disparate tools such as Zoom and Miro will unite in single spaces, and meetings will take place in virtual offices and offices. And maybe we all feel like Get Ready for Player One characters in the coolest sense of the word.