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Is Metaverse the future of the Digital Economy?

According to technologists, the internet will evolve into the metaverse, which will become the next central computing platform. If realised, the notion can potentially alter society and industry the same way that the mobile phone did. 

Millions of people use the internet to obtain information and services, interact and socialize, sell items, and enjoy themselves. This value proposition is expected to be replicated in the metaverse, with the primary difference being that the border between offline and online will be considerably more challenging to draw. 

Metaverse is expected to have a close bond with the real-world economy and to become an extension of it eventually. In other words, organizations and individuals in the metaverse must be able to engage in economic activity in the same way they do now. Simply put, this implies being able to create, trade, and invest in goods, services, and products. 

It’s now a matter of merging all of the most cutting-edge technological solutions to create the metaverse; a large, real-time, interchangeable, interoperable virtual world full of digital experiences and new methods to generate revenue.

Many professionals in the Blockchain pace believe that Metaverse would form a platform for a new generation economy.

Metaverse potentials

Among several use cases of Metaverse is real estate. Currently, anyone can acquire and exchange digitised real-world Streets as NFTs on the DecentWorld platform and receive certified ownership. Users will soon be able to combine these Streets into Collections, which are themed groups of Assets that stand alone as NFTs and generate interest.

The metaverse isn’t simply a virtual world; it’s a science fiction fantasy that comes naturally. It is an entirely new economy. 

Even mainstream businesses, such as McDonald’s and Nike, are planning for the metaverse to become a place where you can go shopping, play games, make friends, attend concerts, work, and build a virtual existence. 

Because the metaverse is still in its infancy, most firms have no clear path to profitability; everyone is racing to be the first to find gold.

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