TomiEx: The Metaverse Is to Become An Alternative Investment Market
The metaverse is a virtual world where people can meet, play, watch, share music, trade and share other experiences, including buying your own piece of art linked to non-fungible tokens (NFT).
And the possibilities are expanding. Asides from the well-known social media platform Facebook, which has now been renamed to Meta, more companies are joining the race to create a completely different virtual world.
Shiba Inu’s founder who calls himself Ryoshi has claimed its own Metavererse recently while the Shiba Inu meme coin is expected to go through a massive burn in December to prepare the network for it.
But the most successful among Metaverses is the Sandbox collection, and Ethereum Metaverse.
Weekly sales of land NFT’s and other digital real estate topped $ 100 million in the week that ended on December 7 vs $ 86.56 million a week before, which is 80% of NFT’s overall trading volume.
NFT has a long journey to go
The Sandbox token has gained an amazing 12,500% since the beginning of 2021.
U.S. Rap legend Snoop Dogg has partnered with The Sandbox to gain metaverse supremacy as he sells digital estate, attracting new users to the platform.
He even started to build his own mansion on the Sandbox virtual land and invited everybody to the party at the Snoopverse.
Three estates around Snoop Dogg’s virtual estate were recently sold for 71,000 SAND, 55,000 SAND and 67,000 SAND, which is $ 450,000, $ 338,000 and $ 410,000 respectively.
The largest nearby estate was claimed to be sold to P-Ape crypto collector who is said to be a U.S. Drug Enforcement Administration, according to some sources.
Even though some might see this as a joke, the interest for the NFT’s Land is rising dramatically.
Sometime these estates are sold with a bonus. In this case there are 67 land bonus NFT that may include private party passes, which grant holders access to Snoop’s private parties in The Sandbox metaverse.
The sales of virtual land are dominating NFT sales, according to NonFungible.com. But the land is not the only expensive NFT that are being sold in the Metaverses.
At the beginning of September, someone paid over $ 650,000 for a digital yacht.
The luxury NFT called Metaflower Super Mega Yacht as designed by Republic Realm as part of its Fantasy Collection and is claimed to be the most expensive NFT sold in the Sandbox.
So far companies like Facebook. Sandbox, Decentraland, Cryptovoxels, Somnium Space are building their own vision of the Metaverse.
But a “true” metaverse will only emerge when interoperability across all companies is possible, equity strategist Edward Stanley at Morgan Stanley said.
Such cross-company collaboration may emerge over the coming years at they will “allow users to seamlessly move across millions of experiences and take their digital avatars and possessions around with them”.
Not only will the companies behind the development of virtual worlds benefit from the newly emerging economy, but many others like Fortnite, Activision Blizzard, Facebook, YouTube, IBM, Microsoft, Netflix and many others may also benefit.
Morgan Stanley believes there are seven groups of companies that will certainly be within this new market.
The first group that may be addressed is “Experience” that represent content creation companies or platforms of such content like the above mentioned Fortnite and Netflix, the second group is “Discovery” with Facebook and Google as the brightest examples, the third is “Creator Economy” with Roblox, Adobe and Microsoft on board, the fourth – “Spatial Computing“, and the fifth is “Decentralize”.
The last two are “Human Interface” and “Infrastructure”. Altogether they represent part of the Metaverse, the creators will enable a comprehensive virtual world where everyone will be able to immerse themselves in such experiences in the future.
Michael Domar, CEO TomiEx exchange and TEX coin https://tomiex-tex.com/
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