What is Metaverse?

How to Join, Earn and Invest in Metaverse?

People globally have many doubts and questions related to Metaverse and its services. In this blog, we tried to answer a few of the most asked questions. Read the complete article to build an understanding of Metaverse.

What is Metaverse?

Metaverse is a virtual world and a mix-up of virtual and augmented reality. Metaverse is a 3D virtual space that can be accessed through virtual reality headsets and other smart accessories and for people to interact with each other. Metaverse offers a range of services to its users, for instance, shopping, gaming, roaming, and various other things. The Metaverse facilitates digital shopping, gaming, and roaming experiences in a decentralized Web 3 space.

According to fortune business insights, the market capitalisation of the global Metaverse industry for the fiscal year 2022 stood at $100.27 billion. The current valuation of the Metaverse industry varies from one media house to another. The Metaverse industry has a high potential to grow in the future. As per an estimate, the global Metaverse industry can rise at the compound annual growth rate of 47.6% to reach a market value of $1.5 trillion by 2029.

Currently, more than 500 companies are working in the Metaverse industry, with combined monthly traffic of more than 470 million active users. According to a few reports, the Metaverse will potentially attract billions of people by 2030.

The most advanced technologies like blockchain, artificial intelligence, machine learning, virtual reality, augmented reality, and mixed reality in the Metaverse extend it as the most secure and reliable industry.

Who created the Metaverse?

The word Metaverse was introduced by the author of Snow Crash, Neal Stephenson, in 1992. In his book, he described Metaverse as the escape where people across the world can interact with each other through their 3D avatars. In his novel, Neal Stephenson stated and illustrated a totalitarian virtual world where the people were not bound to follow the rule and regulations.

How to join the Metaverse?

Joining the Metaverse is as easy as opening a Gmail account on Google. There’s no age restriction on entering the Metaverse. Anyone can join the Metaverse with a few easy steps, but before joining the Metaverse, we all should have a basic understanding of the Metaverse. Many companies are providing Metaverse services. One can easily register and join the Metaverse of the respective company.

How to access the Metaverse?

Metaverse is a mix-up of virtual and augmented reality. Metaverse is a virtual world easily accessible through VR headsets, smartphones, computers, laptops, and other smart devices. Many Metaverse companies have created a different virtual world and offer different services, join the Metaverse that suits your desires and looks best to you. Good internet quality and proper accessories are a must for a better experience with Metaverse.

How to invest in Metaverse?

Metaverse is not only made for entertainment purposes. This virtual world also allows you to make money through various things in Metaverse. As we in the real world use different currencies to trade in the same manner, trading in Metaverse requires a virtual currency. Most of the Metaverse companies use crypto as their authorized currency. Their cryptos can be easily liquidated through any crypto exchange and in their or other partnered projects. Earn opportunities varies from one Metaverse company to another.

Investing money in Metaverse is as easy as investing in VDA or any other financial instrument. The steps to invest money in Metaverse are as follows –

Find out the best Metaverse service provider company for yourself.
Compare the services and earning opportunities with other companies.
Shortlist a suitable Metaverse and register yourself with it.
Add your crypto wallet with it.
Buy cryptocurrency that is usable in Metaverse. For instance, Zepcoin is the key to Zepverse. You must own ZEPX (Zepcoin) in Zepverse to purchase or participate in any bidding process.
Buy commodities and other virtual things in Metaverse.
Start a Metaverse real-estate business.
Invest in cryptocurrencies and other financial instruments through Metaverse.

Investment in any financial instrument requires good research of our own. So, it is suggested to research before investing in Metaverse and related instruments.

How to buy land in the Metaverse?

Major companies like Samsung and Adidas are buying virtual land in Metaverse. Such news attracts people towards investing in Metaverse, as we already missed the Bitcoin wave, and many of us may not want to lose the Metaverse wave. Metaverse is the virtual world that entertains people with its unique features, but apart from the entertainment, Metaverse also gives opportunities to make money in Metaverse through prior investments.

To buy land in the Metaverse, a user could follow the steps below –

Choose the Metaverse platform you want to go into.
Link your crypto wallet to Metaverse.
Purchase the authorized cryptocurrency of Metaverse.
Choose the virtual land you want to buy.
Pay through the authorized cryptocurrency of Metaverse.

How much does Metaverse land cost?

The average cost of Metaverse land in Ethereum costs 0.2 ETH to 1 ETH. The cost of land in Metaverse varies from one Metaverse platform to another. However, the cost of the land in Metaverse depends on the demand and usability of the Metaverse. However, a seller could decide the price of land for selling. The right time to buy land in any Metaverse platform is in its infancy because, during its inception, each Metaverse offers its land at a very affordable price or free. Although, identifying the right newly launched Metaverse platform for investment purposes is tricky, and one must research well.

Where to buy Metaverse land?

More than 600 Metaverse companies are operational globally. However, a few legitimate Metaverse companies are reliable and offer good services for the user. Compare the usefulness of each company and choose the most reliable company to buy Metaverse land. One could buy land on any Metaverse platform, like Decentraland Marketplace, or any NFT Marketplace. The price of Metaverse land varies depending on the size and company to company

How to earn real money in the Metaverse?

Metaverse gives ample opportunities to its user to make money. Metaverse is not only designed for entertainment purposes, but it also allows the user to make money in the Metaverse. There are many ways to make money in Metaverse, here are a few major and prevalent sources of making money-

Metaverse Real Estate

Just like in the real world, big builders and realtors make money by buying undeveloped land and then selling those pieces of land after development at a higher price. This is the traditional method of earning money from real estate. Last year in the fiscal year 2021, the real estate sales in the Metaverse amounted to more than $500 million. A user could also become a real estate agent and earn money through commissions.

Non-fungible tokens (NFTs)

Users can create and sell NFTs in Zepverse to other users. Along with all the traditional NFTs, Zepverse also allows audio NFTs for trading.

Organize the concerts

Organize musical, dancing, or magical concerts in the Zepverse. Sell tickets or passes to the people and earn money. A user could run a drama theatre in the Zepverse and could earn accordingly.

Participate in Play-to-earn games

Play the games where you can earn Zep Coins. Many games are available on Zepverse, including soccer, NBA, cricket, volleyball, basketball, badminton, tennis, and chess. Participate in any play-to-earn games, and earn money. A user could also make a new play-to-earn game and earn Zep Coins by inviting fellow users to play it.

Earn through investments

Many Metaverse platforms allow people to invest in various financial instruments such as stocks, mutual funds, and crypto. Manage your investments through the Metaverse platform and make money.

Rent your property

Buy land in Metaverse, build a park, home, shop, and theme park, and give it for rent to the other users to make money.

Revenue Sharing

Many Metaverse platforms, like Zepverse, follow the democratic financial model. Such Metaverse platforms share a part of their revenue with their active users. Identify such Metaverse platforms and increase your participation on such platforms.

Entrepreneurship

The option of entrepreneurship is also open in the Zepverse. Fulfil the requirement of fellow users and charge them for it.

When does the Metaverse launch?

The launch of Metaverse can occur at any time and any company can launch Metaverse. The user could follow the social media platforms and related news channels for quick updates to know about the Metaverse launch. The cost of land in the newly launched Metaverse is relatively lesser than the established Metaverse. However, before buying land in the newly launched Metaverse, users are suggested to check the credibility and roadmap of the company.

What is Metaverse Crypto?

Metaverse is a virtual world that operates the same as our world. So to get a few premium services and buying-trading of goods requires a common virtual currency in the Metaverse. Every Metaverse platform uses cryptocurrency as the authorised currency of the Metaverse.

For instance, Decentraland uses the MANA as the medium currency for exchanging and trading goods. Similarly, Zepverse uses its cryptocurrency, Zepcoin, as the medium of buying and selling goods and services in Zepverse.