There is no single clear definition of "meta-universe". Some believe the term implies digital worlds, while others believe the word reflects a set of virtual reality technologies. Regardless of the definition, meta-universes have become part of our lives.
Meta started the trend of creating digital worlds. Many other market players, including Nike and Disney, have followed the company's example. Many large corporations, such as Apple, have also shown interest in meta-universes.
Digital worlds opened a lot of additional business opportunities for market participants.
What is digital earth and why do we need it?
Most of the metavalleys use to divide a digital space into segments. This approach allows you to sell virtual land, assigning an owner to each plot.
Non-exchangeable tokens (NFT) are used to organize the process. A token reflects a user's ownership of a particular plot. The system stores information about the ownership of the virtual land in the blockchain.
What to do with the digital land is up to the owner. The choice is limited only by the rules of a particular meta-universe. Here are just a couple of examples of how a virtual plot of land can be used:
- Build real estate. For example, in the Decentraland meta consent, they created a digital copy of the One Times Square skyscraper in New York City. It is customary to celebrate the New Year on the roof of a real building. The creators of the digital copy of the skyscraper did not abandon the tradition.
- To organize a public space on your land. As an example, let's take the organization of a hackathon. To hold the event in the real world, you need to rent a space, decorate the space, and plan seating arrangements. At the same time, no one will guarantee that there will be enough space for all visitors. A similar event can be held in a meta-universe. Digital space opens a lot of multimedia opportunities for presentations and interaction with participants. At the same time, the organizers can be sure that there will definitely be enough room for all the guests. Visitors, in turn, will be able to forego a number of expenses, including airfare to the location of the event.
- Create a representation of your company in the meta-universe. This approach will enable communication with the audience through digital channels. Companies will be able to interact with users using avatars.
Already today, digital land sells for millions of dollars. Often the buyers of virtual plots are large organizations. For example, the British Financial Institution (HSBC) and the Dubai crypto-regulator turned out to be land owners in The Sandbox meta-universe.
Many market participants believe that investing in digital land today offers a good opportunity to make money on the development of virtual spaces. For example, NVIDIA analysts believe that in the next few years people will "move" into meta-villages. They will need land to live in virtual space. The demand for digital plots can support the growth of their value.