Updated: Nov 5, 2021
The Metaverse is inbound! Well, it’s already here, but the grand Ready Player One type version that most people think of when you hear the word Metaverse is still a ways away. After watching Facebook’s, or Meta’s, most recent ad for their new virtual reality products with Mark Zuckerburg, I am honestly a bit shook. I’ve known this time was coming, but to see it now so casually before my eyes is both exciting and a bit eerie. Seeing the ad felt almost like watching a black mirror episode. Whether this is a good or bad thing for humanity is not a topic I’m interested in discussing. I’m looking at this from a pure business perspective, and that means we take things as they are, not as we want them to be. The fact of the matter is that this is coming whether we like it or not. With that said, I’d like to address the opportunities this will present to my readers!
First, if you haven’t seen the ad, I highly recommend you watch it and then come back for my thoughts on the implications, but you should see it yourself.
The fact that the Metaverse is so obviously coming but is still far from deep societal integration is the exact reason I am writing this. NOW is the opportunity to buy solid cryptocurrency projects that are Metaverse focused because by the time we are all hanging out in a virtual reality lobby using these currencies to transact, it will be too late. Given this, I’m now going to talk about a Metaverse-centered coin that I think is promising long-term and why.
Decentraland, built on the Ethereum network, is a Metaverse where anyone can come to play, interact, and explore. There are also plots of land for sale called parcels that you can buy to build any market, game, or environment you wish. Back in June, the largest sale of digital land took place in Decentraland. Republic Realm, a digital real estate investment firm, was the buyer of the 259 parcels worth 1.3 million MANA (Decentralands native currency), equal to $900,000 at the time of sale (Bein Crypto). There are other decentralized 3D virtual reality platforms, but Decentraland has a market cap of 4.5 billion, the largest for a platform of its kind. This Metaverse has also been growing in support and trust ever since 2017, when it launched. The price per MANA currently sits at $2.50 per coin as of writing.
Facebook rebranding their company to lead the charge into the Metaverse tells me they have a tremendously firm conviction that this is the next central social platform. If they are correct in their belief, it becomes hard to see how Decentraland won’t directly benefit.
I want to add that I am not a financial advisor, just a guy with a fond interest in these emerging technologies!
Thanks for listening, and if you enjoyed this post, be sure to share it!
Also, If you want to learn more about Decentraland you can visit their website here