BayaniChain

Metaverse: Why You Should Invest?

Metaverse: Why You Should Invest?

Ever wondered why people invest in the virtual world or what kind of things one should consider before throwing hard-earned cash at blockchain-based metaverse? In this article, I will introduce all the aspects that should be taken before joining the metaverse craze.

 

BayaniChain Metaverse Why you should invest

 

What Is a Metaverse?

 

Metaverse is a blockchain-based virtual world platform that allows users to create, experience, and monetize their own virtual worlds.

 

BayaniChain Metaverse Why you should invest

 

It has many advantages over other platforms such as Second Life and Sansar — two online multimedia and social VR platforms that allow their users to create their own avatars.

 

Imagine, the Metaverse is a virtual reality where you can upload and share your digital self. You can make friends as well as share experiences with them.

 

How Did the Metaverse Start?

 

It all started back in 1838 when scientist Sir Charles Wheatstone outlined the concept of “binocular vision,” where you combine two images — one for each eye — to make a single 3D image.

 

This concept led to the development of stereoscopes, a technology where you use the illusion of depth to create an image. This is the same concept used today in modern VR headsets.

 

Then, Metaverse became a term used to describe a future version of virtual reality (VR) that is popularly thought to be an online world and separate from the real world. The term was coined by Neal Stephenson in his 1992 novel Snow Crash, which described an online society that could be entered through a system of “portals” or “metaverses.”

 

In 1994, Jaron Lanier coined the term “virtual reality” (VR) to describe this concept. But instead of being separate from reality, Lanier argued that VR should be viewed as an extension of it — instead of having one body and one mind inside yourself, you should have two bodies and two minds. One inside your physical body and another inside your computer-generated body that interact with each other.

 

In short, Metaverse has been around for decades, but it was not until recently that it became a household name. In 2020, investors poured billions of dollars into NFT startups like Decentraland and Everlife.

 

BayaniChain Metaverse Why you should invest

 

Metaverse Market Size to Grow by $677.98 Billion in 2026

 

In a report conducted by Technavio, a global market research company in geography rankings, North America accounts for the highest metaverse market share growth in 2022.

 

BayaniChain Metaverse Why you should invest

 

However, the compound annual growth rate (CAGR) is expected to decelerate by 33.26% in the next few years. Further, experts said that full broader adoption is expected around 2040.

 

So Why Should I Invest?

 

A Metaverse is a place where every person can be anything, do anything and go anywhere. It is the world’s first virtual reality that anyone can access with a simple VR headset and with the help of blockchain technology; its potential is set to be unleashed.

 

In the first five months of 2022, it is estimated that over $150 billion have been invested in the space, building its backbone and key infrastructure that will further push the industry ahead.

 

The most important thing to understand about Metaverse is that it is not just another cryptocurrency or blockchain project. It is an open-source platform that aims to solve global problems by creating a decentralized virtual world. This virtual world will be built on top of a blockchain so that its users can enjoy a truly decentralized environment where they can interact with each other and create new businesses without having to rely on third-party services such as banks or government agencies.

 

However, the Metaverse is still in its early stages and not ready for mass adoption. This means that there will be many more improvements to come which will make the platform even better. In spite of that, it is important to note that this is not an investment opportunity. The crypto market is very volatile and can change overnight so you should only invest what you are comfortable losing.

 

Besides, people (myself included) still prefer living in layers of ‘real’ reality where interaction mostly occurs not because of clunky equipment, bad connectivity or high cost.

 

Other Articles

Clairerity

Likha Artist Highlights Clairerity

Clairerity is a physics graduate and satellite engineer whose love of art — especially creating 3D renders, and architectural and liminal spaces — is unfathomable.

NFTs vs Cryptocurrencies

NFTs vs Cryptocurrencies

If you meet someone making money from trading non-fungible tokens, chances are good that person is also involved in crypto. Both cryptocurrencies and non-fungible tokens