What is the Metaverse ? Will you get sucked in ?

It's no secret that the company formerly known as Facebook (Meta) has decided to focus on development within the Metaverse.To be clear Meta doesn't own the Metaverse, it can't be owned by any single entity. That hasn't stopped businesses from spending billions to acquire virtual real estate and turn focus to developing and marketing NFT's. Nike has already acquired a virtual shoe company and filed several trademark applications with plans to make a grand entrance in the space. Facebook(Meta) has also created VR hardware, company Oculus that gives you instant access to games with the latest version called Quest2.

Fashion industry elites like Louis Vutton, Balenciaga, and Burberry are having runway shows, releasing video games and exclusive nft products, through platforms like Roblox and Fortnite . The idea of spending a large amount of time inside Web 3 isn't that strange seeing how much people frequently are consuming social media apps like TicToc, Instagram, and Snapchat. Business are seeing the value in creating and establishing their virtual brands, where people can actually interact in a real-time setting. Meta is taking a risk that could payoff enormously, and other major bands are following in their footsteps .

The 3 major component that are driving innovation in the Metaverse are the buying and selling of Virtual real estate, NFT's and Cryptocurrency. Companies are figuring out that a presence in the Metaverse can be potentially as lucrative as owning property in any major city in the world . Decentraland and Sandbox are the 2 leading platforms where users buy and sell land. These properties (parcels) are ranging from a few thousand to areas like The District for fashion brands and runway-show/event spaces going for about $2.4 million . The movie Ready Player One is a foreshadowing of the landscape and interaction that is projected to go on, and virtual store fronts will be just as vital to any business's regular revenue .

NFT's have been extremely popular for the last 5 years and now with virtual real estate skyrocketing, people finally have a place to hang their neat 3D art and showcase other niffty minted nfts. Popular nft marketplace, OpenSea.io has increased in popularity due to the elevated activity that is taking place in the Metaverse.

Cryptocurrency is the fuel that is driving the innovation has found an ideal place for utility. What better way to purchase digital assets but with digital gold right? Ironically bitcoin's biggest use-case is that it is It hedges against inflation against because it will have a fixed amount in circulation. Even with that fact going for bitcoin , There are tons of other cryptocurrencies that are better suited for mass transactions like Shiba. Currently the leading coin in the Metaverse is Ethereum , but other coins are gaining traction.

The Metaverse is here and the only question is are you ready for it? Topboompop encourages every person to gather information and make educated decisions, Don't let temporary indecision lead to lasting regret. Hop into the Metaverse and we will see you there.