What is Meta and should I buy virtual property?



What is Meta?

Facebook said that they would be re-branding in October 2021.

Only a few weeks later, Zuckerberg revealed Facebook’s new moniker, “Meta,” which was possibly inspired by the Greek word “beyond”. However, it also means those that review the reviewer.

Meta or Facebook plans to establish a next-generation “metaverse” internet. And capitalize on the selling of virtual property.

During his keynote address, Facebook CEO Mark Zuckerberg also remarked that the name Meta now better symbolizes the firms’ direction for the future.

“We are a company that produces technology to connect people,” the billionaire explained.

When Mark Zuckerberg revealed that Facebook will be renamed Meta in an attempt to capitalize on the digital frontier, interest in this digital universe surged. According to Grayscale, a digital currency investor, the worldwide market for products and services in the metaverse will soon be worth $1 trillion.

A Virtual Metropololis

Multiple digital realms make up the metaverse. Each one resembles a three-dimensional virtual metropolis where avatars live, work, and play.

Anyone who has played famous video games like Myst, or the Roblox universe has seen what these worlds are like. Virtual reality, streaming video, mobile gaming, avatars, and AI are all used to create immersive digital experiences.

The Future of the Metaverse.

In a few years, some anticipate the metaverse will mature into a fully functional economy, providing a seamless digital experience that integrates into our lives the same as email and social networking do today.

Why Buy Virtual property?

Michael Gord, a co-founder of the Metaverse Group, said skeptics should look at the patterns driven by the epidemic if they want to understand why a corporation would want to invest in a virtual workplace in the metaverse.

More people are working online and remotely. The great resignation has changed our work environment and more people shop online and use it for entertainment purposes than ever before.

Who is Michael Gord?

Michael Gord is the CEO of the Blockchain Education Network, a global community of blockchain fans. MLG Blockchain, an enterprise blockchain, and ICO consulting and development organization, is the company’s founder and CEO. In addition, he is the Chief Strategy Officer of Lucid Exchange, a next-generation blockchain platform.

Virtual currency

In these digital worlds, money is cryptocurrency, because the blockchain, a digital currency that eliminates the need for a third party such as a bank, powers finance in the metaverse.

Anyone who enters a virtual environment can use NFTs to buy or sell paintings, music, and even houses. The NFT is a unique piece of paper that serves as proof of ownership.

is it a good investment?.

Virtual worlds are quickly becoming a magnet for multimillion-dollar real-estate investments. With the popularity of the phrase “Metaverse,” internet firms are scrambling to get a piece of the action.

Of course, this transformation could just be the first step toward more immersive computing or the digital renaissance that many artists promise.

But one thing is clear: virtual worlds are becoming fascinating enough to warrant multimillion-dollar real estate transactions.

Selling in the online world

Joining an online world can be viewed as an investment in the promotion of a service or product.

It should be viewed as another social platform, and those who get in early will be able to establish a loyal following faster, as well as earn money offline directly via these platforms.

Find out more about selling online ==> HERE <==

The customer.

Users can exist in their avatar personas on platforms like this. They can use their digital alter egos to express themselves from the comfort of their own homes.

They may buy things, meet friends, and shop. Users can visit any location or event, manage the weather, and determine who can accompany them.

The metaverse can give the person complete control over their surroundings. From who you want to hang out with to what news you want to read to what you want to buy or sell, there’s something for everyone.

It should be viewed as another social platform, and those who get in early will be able to establish a loyal following faster, as well as earn money off the internet.

Is Meta the first online world?

No, it is not. Decentraland, which launched in February 2020 and bills itself as the first fully decentralized virtual environment, is built on the Ethereum blockchain. That means the people who use Decentraland own it and govern it.

MANA, Decentraland’s primary cryptocurrency, is used to make transactions in this realm, and NFTs are used to verify proof of ownership of virtual property.

The coin’s value had begun to rise in 2021, but it skyrocketed after Meta’s statement about opening its own virtual world.

Another is Superworld

In Superworld you can purchase, trade, gather, and curate over 64 billion pieces of virtual land.

The SuperWorld virtual real estate platform is mapped throughout the entire world, allowing users to buy property anywhere on the planet.

From skyscrapers and stadiums to historical landmarks and iconic structures, as well as natural features like Machu Pichu in Peru or Halong Bay in Vietnam.

Will Meta dominate the market?

Meta is anticipated to have a significant impact on the evolution of online virtual worlds.

Platforms like Decentraland, on the other hand, will have plenty of room to operate because their structure makes them better suited to those wanting greater autonomy.

Given Facebook’s prominence as a social media platform, it’s hard to assume that their virtual world and metaverse will remain centralized.

Based on history, you’d have to believe that it will be a more centralized experience with a more totalitarian regime.

Conclusion.

Many people believe that this is the start of a new era of online contact and that those who get in early will prosper.

Buying at this point could be really profitable.

Only a few digital marketplaces exist where investors may buy and sell real estate, and they all utilize their own currencies.

Will Meta drive the sales of online virtual property purchases and will it be another marketing tool for companies to use?

Will these virtual worlds take off and is it worth investing in? Time will tell.

If you have purchased or are about to purchase any virtual property let me know what your experience was like.

Stephen

Any or all links on this site may be affiliate links, and if you purchase something through those links I will make a small commission on them.

There will be no extra cost to you and at times due to my affiliation, you could actually save money.

You can read our full affiliate disclosure here.



6 thoughts on “What is Meta and should I buy virtual property?”

  1. Hi Stephen, 

    Thank you for the breakdown. this is a hot topic. should I shouldn’t I. personally I believe the digital world will only expand in and add value. it is hard to understand where this is going to go but like any market place it is all about supply and demand. I can see how buying meta property now will be a great portfolio investment as that land will only increase in value as long as there is value in the verse you have bought in. the property can also be developed and monetized which is pretty much the purpose here. I am keen to buy property but the price tag is on another level. Take the risk, get in early and buy now or wait a year and see what the uptake looks like?

    Reply
    • Louis, in my opinion, if you wait for a year you will miss the boat. I think this is the start of something big, a lot of social media platforms will move to virtual worlds and incorporate virtual reality. Any business that gets in now will be ahead of the pack.

      Stephen

      Reply
  2. At first I thought you were talking about meta description but then I continued reading and I saw your were talking about Facebook rebranding. Quick question, so Facebook does not exist anymore? Is it now called meta? And also, why is it called meta? Why the rebranding? These are the things I would like to know 

    Reply
    • Facebook has rebranded into Meta because they have now expanded into many areas and Facebook as a brand name does not cover what they do. So Facebook still exists. Will it be totally rebadged, probably? But they will not want to rebadge and alienate the existing clientele.  

      Reply
  3. This will be the next big thing in my opinion, virtual worlds with virtual real estate, NFTs, cryptocurrencies. I don’t particularly like the centralised status of Meta. Block chain ‘should be’ decentralised if you ask me… So I think I won’t be jumping in – chances are, that I will regret this later 😉

    Reply
    • Decentraland may be more up your virtual alley. It is a more democratic Metaverse, but who will win the online battle for the best Online Virtual world? Probably those with the money. It is a bit like buying property, doing it now or regretting it later.  

      Stephen

      Reply

Leave a Comment