What does money look like in the Metaverse?
Metaverse has unleashed a deluge of new Blockchain and Cryptocurrency that are set to provide an immersive experience to millions of active users. The stakes have been raised significantly higher, and it only makes a great deal as we are witnessing the peak of technology coming to life. Sitting in front of a PC was not ever enough for users as they actually wanted to live in the virtual reality world that is constructed by them only.
It might sound a little uncanny, but this is exactly what the future has in store for all the unsuspecting and indecisive people. The sole objective of introducing Metaverse was to take consumer satisfaction to an unprecedented level quite literally. With the business models constantly changing and aligning with the latest technology, the overall intensity of money inflow has just become way higher.
The play-and-earn business model in the gaming industry is already breaking all the previous records in terms of revenue. But is this technological advancement necessary? Do people really want to live & get lost in the immersive virtual reality ushered in by the Metaverse? Is the thought of living in your dreams being materialized? Well, Bitcoin Era will address this pool of questions profoundly to help you come to terms with the scenario and forthcoming future.
Money with a new face
Crypto wallets: Metaverse purchases will need such crypto wallets, and users are supposed to possess such wallets before creating their accounts on platforms like Decentraland & Sandbox. MetaMask is one such crypto wallet that is being widely used by millions in the cryptocurrency ecosystem. Active users can also exchange fiat currency with their preferred crypto tokens.
NFT-based cards: Digital assets ownership is highlighted by the possession of available digital tokens, which are widely renowned as NFT, i.e., Non-Fungible Tokens. Such tokens carry all the relevant information about the assets that are coded in them. They can also be held in any type of crypto wallets that have been circulated in the domain.
Ether: It is one of the widely accepted Ethereum’s native currencies. Hence, it is being used extensively on all crypto platforms to make necessary purchases across the Metaverse ecosystem. Ether can also be directly used on prominent platforms such as Sandbox and Decentraland to make purchases. It is currently being traded at around $2,427.
MANA: It is Decentraland’s native token which can be used effectively to buy wearables, land, avatars, and all the pertinent accessories available on the prominent forums. All the owners of MANA also leverage a vote whenever necessary changes are proposed on this active platform.
SAND: Widely recognized as Sandbox’s native token, SAND works quite similarly to MANA as their characteristics match on most fronts. Users can buy or sell their respective in exchange for this native token. Also, it can be swapped on most of the available crypto exchanges for fiat currency. Currently, it is being traded at $3.46.
Into the wild!
The billion-dollar company Facebook was in the mainstream media but certainly not for good reasons. The company has been in the crosshairs of government scrutiny for quite a few years that relate to privacy concerns. It has been alleged that the company has been jeopardizing the private data of billions of users by exposing them. However, all such allegations have been shunned by the company. Now the pressing question arises why people would trust Metaverse when Facebook’s reputation has already been tarnished due to uncaring gestures for peoples’ privacy.
With the unabated grandiosity of Metaverse, it seems that the tide is in its favor and will remain as it is for the years to come. Regardless of all the profuse allegations and condemnation that Facebook has been subjected to, there is no denying the fact that Metaverse is set to reverse that. Moreover, it is set to take the money inflow to an unchartered territory by hooking millions of users from all around the world on a single platform, i.e., Metaverse. A new virtual world that has no rules & no boundaries.
