The Business of the Metaverse

Virtual reality has been around in sci-fi for decades now, but it wasn’t until recently that the technology caught up to our imaginations. In 2013, Facebook bought the virtual reality company Oculus Rift and announced the acquisition with the goal of developing their own virtual reality gaming platform and headset that was released in 2016 or 2017 (though industry insiders suggested that might be too optimistic). While some people believe that VR will never go mainstream, investors are pouring money into startups focused on developing VR technologies and devices as they wait to see what happens with Oculus Rift’s entry into the market.

What is the Metaverse?

The metaverse is a term for a shared virtual space, created by the convergence of virtually enhanced physical reality and physically persistent virtual space, including the sum of all virtual worlds, augmented reality, and the internet. It will offer people from around the world a common space to meet and share ideas. The term was first coined by Neil Stephenson in his book Snow Crash in 1992.

VR Communities

Virtual Reality (VR) has been a long-dreamed-about technology for decades, but in the past few years, it’s finally become a reality. We’ve come to call this immersive space the metaverse and it will be one of the most transformative technologies we have seen in our lifetimes. The metaverse will offer everything from online gaming communities to work opportunities and new ways to connect with people from all over the world.

VR Games/Productivity

Virtual reality has been around for a while now, but it’s only recently that its potential for gaming and productivity have been realized. From business meetings to exercising, VR is changing how we work and play.

What is Real Estate in Virtual Reality?

Real estate is a fluid concept in virtual reality. It can be anything from a small apartment to sprawling acres of land. There are many different types of real estate and they all have different costs, benefits, and risks associated with them.

Why is Decentralization Important?

Decentralization is important for a number of reasons. One reason is that it makes a system more secure. With so many people participating in a decentralized system, it becomes much more difficult for hackers to access and exploit any vulnerabilities. Another reason decentralization is important is that it allows participation by anyone with an internet connection, regardless of geographic location or socioeconomic background.

Blockchain in Virtual Reality

Blockchain technology has made its way into virtual reality and is being used by a variety of startups to power their platforms. The decentralized blockchain is a way for developers to create games that are completely safe and fair, without any sort of interference from a central authority. This means that anyone can play these games without ever having to worry about getting cheated, hacked, or scammed. The blockchain is also revolutionizing other parts of the gaming world as well.

Monetization in Virtual Reality

There are a number of ways to monetize in virtual reality. One way is through virtual reality applications. Developers can create an experience that users pay for and then enter as an individual or with other people. Another way to monetize is by selling virtual goods, like clothes, furniture, and accessories which users purchase to outfit their avatars in the game.

Other Platforms to Consider

While Second Life may not be as popular as it once was, VR is definitely on the rise and will only continue to grow. Here are a few more platforms that you should consider

How Do I Get Started?

In order to get started in the virtual world, you must first have a Second Life account. Once this is done, you can go through a tutorial that will teach you how to navigate and purchase items. The next step is to find an avatar. This will be your online representation while interacting with other players and businesses.

Incubate with Us- Metaworks Holdings

Metaworks Holdings is an incubation company formed to create new, foundationally stable, scalable business units primarily focused on modeling existing, successful, traditional, and/or progressive recurring revenue streams existing within existing and new Metaverse. 
The ultimate goal is for each business unit to raise money independently and provide best-in-class products or services in each of their respective industries. Additionally, all units incubated under Metaworks will be able to get added benefits from the other businesses’ goods or services in our ecosystem. Find out more: metaworksholdings.com.