Reports suggest that Metaverse will be the future of the internet, and this news was confirmed when Facebook changed its name to Meta. But the real thing is why everyone is suddenly talking about Metaverse and why investors want their share of profit in the industry? To answer all your questions regarding Metaverse, here is a guide for developers and those willing to invest in Metaverse.
Metaverse: Definition and Meaning
The term ‘Metaverse’ firstcame into the limelight when the famous science fiction writer Neal Stephenson used it in his 1992 book Snow Crash. In the book, the term represented a computer-generated universe. In simple words, Metaverse means an immersive virtual world where people can play games and socialize.
It combines social media, online gaming, virtual reality, cryptocurrencies, and augmented reality to enable users to interact on the internet. It is expected that metaverse development language will grow into other dimensions with time.
Compared to the current internet experience, which is two-dimensional, Metaverse is three-dimensional, meaning that you can walk in it with AR headsets. Metaverse is also related to Web3.0, built on blockchain rules to democratize access to information available on the internet.
There is still a lot of work left to do in the metaverse industry, and the pioneer gave a ten-year estimate to fully integrate most of the key features of Metaverse in the mainstream. Although some metaverse is available in the market today, they are bound to their usage.
What does the Metaverse mean for Developers?
As Metaverse is becoming a catchphrase in the tech industry, developers are also looking for answers about what Metaverse has for them. When it comes to developing a metaverse application, the only difference is the number of platforms as there is no limit of platforms in the Metaverse.
It is expected that Metaverse will be a more open and interoperable system than other application ecosystems where there are a few dominant platforms. The recent statement of the owner of Facebook also backed up this statement, but it is a test time.
The only thing we can do is wait for the release of Metaverse and test things by ourselves, but we have some other options that we can use in the meantime. There are many ongoing initiatives by metaverse company that uses the metaverse label, and below are more details about these initiatives.
Metaverse Stack by Microsoft
At a conference in June, the CEO of Microsoft shared his vision about an enterprise metaverse that will come into existence when both the physical and digital world meet. With the given stack metaverse, developers will develop a digital model of anything, even if it is logical.
The Microsoft version of Metaverse is close to reality when we compare it with the default metaverse as it doesn’t feature any avatars or stuff like that. To get a better idea about the actual plan of Microsoft, we need to look at the digital twin concept,which in simple terms means the internet of things or IoT.
As a metaverse developer, this Metaverse by Microsoft provides everything you need to build simple and complex applications using the official power platform of Microsoft. This platform is a low-code toolset to enable you to apply machine learning technology to digital twins no matter how complex it is.
HTML of 3D and NVidia
NVidia has announced an expansion of the current Omniverse platform to encourage more studio workers to use the platform and simplifythe studio workflow to take real-time graphics to a whole new level.
The Omniverse platform uses Universal Scene Description’s open-source technology, which Pixar studios developed. During that same announcement, NVidia also told the audience that the Omniverse platform is a way to connect the open Metaverse. Experts suggest that this is why Omniverse is the equivalent of a 3D web browser.
Take your metaverse developer skills to the next level and become a professional metaverse developer by teleporting into the 3D world to view the desired scene at a glance.
Facebook’s Looming Presence
The Metaverse by Facebook is still a thing of the future as it is in the development phases right now and will be released in the upcoming time. A part of the metaverse project, two new products by Facebookcan virtually teleport you to a room with the desired person, which is a giant leap for developers.
Open Metaverse
Although these metaverse initiatives by Facebook, Microsoft, and NVidia are a giant leap, there are many open source metaverse available in the market today that we can test to get a better idea about their work. Mozilla Hubs and Open Metaverse OS are two of the best open source metaverse.
With Mozilla Hubs, you can use web technologies including WASM and Three.js because it is a website-based Metaverse, while Open Metaverse is an operating system.
How to Invest in Metaverse?
Metaverse isn’t only related to games and virtual worlds, which we can explain with personalized avatars, but it is much more than that. Finance experts have vital facts to suggest that Metaverse will soon become a 1 trillion dollar industry.
You can invest in the Metaverse by purchasing metaverse tokens and virtual land in Metaverse and buying in-game non-fungible tickets. Metaverse Mobile app development is another way to invest in Metaverse that requires some level of programming and business knowledge for effortless execution. Here is a complete step-by-step guide to help you invest in the Metaverse.
Direct investments
- Create a Crypto Wallet
Just like the realworld, where you have to pay for your purchases, you need to do the same in the case of NFTs. Crypto wallets are the best option for transferring payment for investment purposes as they are way secure. Use WazirX, CoinDCX, and CoinSwitch Kuber crypto wallets to purchase metaverse tokens.
MetaMask is yet another crypto wallet that experts use to buy non-fungible tokens. You need to verify your identity to turn on all the functionalities of your crypto wallet.
- Open an Account on a Platform
If you want to purchase metaverse tokens, go to the WazirX or CoinDCX crypto exchange and purchase tokens based on the currency in your wallet. Mana, Sand, and AXS are some of the best metaverse tokens,and these are currencies of various Metaverse.
Some steps may differ for in-game NFTs and virtual real estate, but the essence remains the same as you need to make money by investing in Metaverse. Create an in-game account of the desired game and connect the account with your crypto wallet for effortless payment. OpenSea is a shared marketplace that shows all your NFTs in one place so you can sell and view them at a glance.
- Select the Desired NFT and Transfer Payment
You will understand many things in buying and selling NFTs and stuff that you will understand once you step foot into the industry. For example, you can’t simply buy an NFT as there is no pre-determined price, and you need to bid the highest to acquire it.
Indirect Investments
The above guide enables you to invest in the Metaverse directly, but there are several other indirect investment methods available that you can use to invest your money. Gothrough the methods given below.
- Buy Stocks Related to Metaverse
If you search on the internet, you will find many companies who are directly or indirectly involved in the Metaverse, and you can buy their stocks to invest in Metaverse indirectly. You will get your investments back along with hefty profits if the Metaverse lives up to its hype.
You don’t have to worry even if Metaverse fails because you invested in a big company, and the chances of the failure of that company are still very thin. Apple, Facebook, NVIDIA, Roblox, and Unity are some of the best options for buying Metaverse-related stocks as all these companies are currently working on Metaverse
- Invest in Metaverse Index
Just the stock market indices, which show the performance of each company, the metaverse index shows all the new businesses and stuff like that which are planning to move the Metaverse. Based on this index, you can buy stocks of these companies and double your money in no time.
The Metaverse is evolving day by day, and maybe soon we will see a transition from the physical to the virtual world if everything goes according to plan. But experts suggest that you should do your research instead of blindly investing in Metaverse and losing all your money.
Do you have an Idea?
Conclusion
With these investment options about Metaverse, you are all set to invest your money and wait for the right time to get a significant return on it. And no matter where you go, this knowledge about Metaverse will help you makea better decision about where to invest.
