I have completed many written series over the last year I have been blogging. However, none may be more vital to investors than the one I am writing today about the metaverse. We are still in the very early stages of Web 3.0, and we will need to leverage everything we have learned about investing, cryptocurrencies, real estate, and business to find success in this brave new frontier.
Today, I will give a brief overview of the Metaverse, but more importantly, I will ensure we have the proper tools to take advantage of Web 3.0. Just because we are moving into a digital world doesn’t mean throwing everything we learned out the window. The same rules apply, but instead digitally.
The Metaverse. The metaverse has been a hot topic among investors recently. The parent company of Facebook changed its name to Meta last month and described its aspirations for the future.
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This story brought metaverse hype to the forefront of the news cycle. But what is the metaverse? I began watching some videos, but I decided to read a book next. Always read books to gain an overall investing thesis of a topic.
I just completed “The Metaverse” by Terry Winters, and it changed my mindset about the future. First, the metaverse is a digital world that we can access through various equipment in our physical worlds. The metaverse will allow us all to socialize, work, and invest in its digital worlds.
The two main ways to access the metaverse are virtual reality (VR) and augmented reality (AR). VR has been around for a while, with a renewed focus recently because of the Metaverse. We can access VR through virtual reality headsets that cover our faces and ears.
AR has become popular as a digital overlay to our physical world. AR uses cameras and computers to show us information on top of the physical world as we navigate. I used to play Pokemon Go until it became too expensive for me. However, Pokemon Go is an excellent example of AR in today’s space.
Web 3.0. Web 3.0 will help usher in the metaverse. Web 1.0 is what I used growing up with the internet in the 1990s. It was a basic interface with mainly text websites. Web 2.0. is what we currently use. It features user-generated content, video, and social media. It also has rich websites and visuals.
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Web 3.0 will incorporate peer-to-peer applications and blockchain technology. Please read the above book to get a deeper take on the future of the internet. What I took away was things are changing, and we need to get on board.
Features of the metaverse. Many movies and books have featured versions of the metaverse. However, we don’t know what the future will bring in regards to killer applications. Currently, there are multiple worlds where users can interact, build, and invest.
Using our VR headsets, we will be able to go to work, malls, attend movies, concerts, travel to destinations, gamble, spend time with family, etc. The metaverse will allow us to replicate our physical world in the digital space.
It is important to note that no one company or person controls the metaverse. There will be multiple worlds, and building tools that allow us to access our personas, or “avatars”, across multiple worlds will be vital.
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Here lies the rub. If there are multiple worlds, multiple companies, multiple metaverses—how should we spend our time, money, and resources? That’s where our investing background plays an essential role in the future.
The metaverse won’t just be some free-for-all where everyone is making money hand over fist. Nope, the same investors that are successful today will be successful in the metaverse. Of course, there will be a gold rush at first, but as the markets mature, actual investors will begin to shine.
That’s what I want to focus on in my metaverse series. We need to understand what is happening in the metaverse, how it relates to the physical world and our current education, form a new investing thesis, and execute our plan.
Let’s take buying virtual land, for example. Sure, you can go and buy a vast plot of land on Decentraland today. However, buying and holding a plot of land may not guarantee the returns you seek. Property values in the metaverse depend on “foot traffic”—how many virtual avatars cross your land. So buying a plot of land closer to big cities or attractions will yield better results.
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So to have great results in virtual real estate investing, you will need to understand how to invest in real estate. Guess what, that’s just like real life. There will be no easy win button in the metaverse—we will still need to be investors.
So let’s take the time to refresh our investing mindset across multiple asset classes. There is no better time to form great investing habits before the gold rush. We are in the calm before the storm, so let’s take the time to build our financial mindset in preparation for this brand new world.
Employment. Yes, there are jobs in the metaverse. If I were to buy a virtual plot of land today, I would need to hire a designer or programmer to build an attractive home or business. As more and more people migrate to the metaverse, these professions will be in demand. If you always wanted to have a web-centric career, now could be a great time to start learning a new trade.
Retirement Planning. The average person can’t afford to retire in the United States. What will the metaverse bring for these senior citizens? Will they be able to gather virtually? As an investor, I would want to keep my eye on this development.
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Investing. In the physical world, we use dividends to profit from big corporations. How will we invest in companies in the metaverse? Remember, I said there would be more peer-to-peer connections, so corporations may not control what’s “inside” the metaverse. They may maintain the infrastructure but maybe not the daily virtual operations.
Each metaverse world will have an economy of its own. As investors, we will need to understand each economy and make investment decisions to add value and profit. It won’t be one size fits all.
Cryptocurrencies. Blockchain is a huge part of Web 3.0 and the metaverse. The blockchain is where we will record all of our transactions and ownership in the metaverse. If you don’t understand blockchain technology or crypto, please take the time to read through my CryptoCurrency series.
Also, the book “How to DeFi -Beginner” is a solid read that can help you gain the appropriate knowledge. Virtual worlds are creating coins that their visitors can use to buy land and make transactions. Investors and speculators can buy some of these coins on centralized exchanges.
For example, Decentraland uses MANA as their platform token, and you can buy this coin on Voyager (affiliate link). So if you don’t understand the metaverse, you can still invest as an outsider. This is one example of how the digital and physical worlds will overlap.
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Real Estate. Digital real estate and buying virtual land is going to be the next boom. However, creators can build an unlimited amount of digital land; how will you tell which will become valuable? Again, that’s why we are investors. The basics of real estate investing still apply. Location, location, location.
To find and buy valuable land, you have to understand the world where you are spending money. Is the world going to survive against other metaverse worlds? Where are the popular attractions in this world? What do the market prices look like compared to last month or year?
I would love to say that you can jump into any world and start buying land, but that may not be the best tactic. You will also need to develop your land with housing or business. Will there be ways to tokenize your land to make it more affordable to purchase? There are many questions to ask and answer in metaverse real estate.
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Business. There are two main questions to ask about business in the metaverse. What new types of business will excel in the metaverse? How do I transfer my current physical business into the metaverse?
First and foremost, ensure you know the basics of being an entrepreneur. The metaverse isn’t going to change your mindset or make you smarter. You still have to understand how to run a business and add value.
There will be various ecosystems in the metaverse that you need to understand. You could become a virtual real estate agent, showing people new digital lands. How about a tour guide for people new to a particular world? The possibilities are endless; however, we cannot rest on our laurels. We need to engage with the metaverse daily and see where the economies take us.
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Conclusion. I’ll have to wrap this up. That’s why I love creating series so that I can return to important topics. There is still much to discuss in the metaverse, including NFTs, gambling, education, etc. We have barely scratched the surface of the possibilities.
We must always keep our bearings in new investing scenarios. We know what made us rich in the physical world, so we need to keep that same mindset. There will be tons of new gold rushes in the metaverse, but the windows of opportunity will close fast. Don’t take the fast money if you do not entirely understand the game.
As is always the case, the investors with the long game in mind will come out ahead. Stay tuned for more metaverse coverage. I am super excited to transition our investing knowledge into the digital space.
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