ToDay Job In Bhavnagar | How to invest in the Metaverse Part 2

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They want to get into the crypto space as well. They have been trying really, really hard. Crypto is modulated by decentralization, decentralization means that there is no central authority. And what is Facebook known for?

Facebook is basically known for aggregating your data, packaging it and selling it to highest bidders that are advertisers. So no one trusts Facebook. From that perspective, no one is believing the entire audiences are not believing in the narrative that you know what Facebook is truly going to create a decentralized system.

Facebook’s ‘LIBRA’

Therefore, their Liberal project did not go really well. That’s partly partly in order to create a new Metaverse or a new planet. What do you need? You need people to believe in it, number one that you need to have customers. Second, you need to have developers because this planet needs to be built on technology, which is the blockchain technology. So you need developers to come onto that Metaverse and start creating more products and systems and processes. Now, that has not happened for Facebook. That has, however, happen for crypto or blockchain oriented Metaverse. So let me take you through one of the key examples, which is called as Decentraland. And this is what Decentraland looks like. Now, this will look like a futuristic video game for you. But trust me, this is more than a video game.

So let me give you a very quick tour of this on Decentraland You can create, explore and trade in the first ever virtual world owned by its users. This is decentralized. That is the power of Decentraland. Let us scroll through. Let me tell you some more things. Lose yourself in this amazing evolving world so you can do a bunch of different things. Explore landowners by users to experience incredible scenes and structures. Is that right? You can create is the limit of your imaginations. You can buy, sell land, estates, avatars variables named the center line marketplace, stocking the very best digital goods and paraphernalia backed by Ethereum blockchain. So this entire Decentraland is a planet in itself, planet in itself, and it is powered by a currency called as Mana. I will show that to you in a minute. What can you do with this currency? You can actually buy a piece of land real estate. You can buy all these different different things, right? You can in fact, trade it.

There are different NFTs that you can trade on a platform called as Openseas as well. So this is our biggest NFP Marketplace, so you can do all these different bunch of things. So all these digital assets, all these digital assets that you see these become tradable because of the NFT functionalities. Now, there are two, three key things that I’ll quickly explain because some of you might be complete beginners. So let me first and foremost, talk about what NFTs are. Now, this is an NFT.

Okay. Now this is a virtual piece of art or wearable or a gadget that is there on a virtual world, right. For example, if you are playing, let’s say Call of Duty, which is a video game and you buy a gun, you buy a really nice gun, you spend your real $100 to buy that gun. Now you can’t do anything much with it outside that game. But on an NFT, what you can do is that, for example, this jacket, you can go on open seas and you can sell it off for real money. So this is the functionality of blockchain based NFTs that they become tradable. They become like commodities. You can sell them, buy them, you can monetize them. And that is the reason why the next leg of video gaming is Metaverse because there is real incentive for people to play engage with these games because they get to make money. There is a game called as Axie Infinity, where if you participate on the tournaments that are happening in Axie Infinity, you can make real money, right? A large population of Philippines ended up playing and exploring this game because the money that they were making by playing Infinity was much larger than they could have made by doing their day job. So a lot of people in Philippines quit doing their day jobs and started playing this video game full time to make money and make real income. So that is the power of Metaverses. Right now there are three major Metaverses in the crypto world. Right?

One is Axie Infinity Infinity. Second, we are talking about Decentraland and third is Sandbox. These are three major Metaverses that are existing in the crypto space and looks like that one of these three will win the race. Now you would say this sounds super exciting. I want to invest in it. What should I do? You can actually go on wall and you can buy a coin called as Mana, and you can see the returns of this coin. Right. This has been going crazy. Right? So it launched somewhere in 2017. The performance was very flat for two, three years. Then it has skyrocketed from last year onwards from approximately 00:15, it has gone up to 4.2 also, which is like exponential return on this asset because the entire meta narrative is picking up steam. A lot of companies are coming up.

A lot of companies are taking their claim that they will become the next prominent meta. Worse. Right now the war is going on between four different companies. One is Facebook. Second is Decentraland. Third is Sandbox. Four is Axienfinity. All have their different utilities. And these are the leading Metaverses that is out there. Now you would say, did you purchase MENA? I have purchased MENA, but in very small quantities, I am still sitting on massive profits on it because I believe in this entire Metaverse narrative. Now you would say Akshat you are speaking about like some futuristic stuff which will probably fly, which will probably not fly.

next part 3 article soon..

1 Comment

  1. ayush parmar
    December 16, 2021

    post gard

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