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How Facebook’s Metaverse Could Transform the Digital Economy
If you have ever wondered how Facebook plans to monetize the new technology behind its rebranding, you’re not alone. This futuristic world is quickly becoming the next digital frontier, and its potential to produce trillions of dollars in value as a new computing and content medium is clear. It could ultimately become the gateway to virtually every digital experience, and may even become the next great labor platform. To understand what this means, let’s take a look at some examples from the company’s past.
First off, Metaverse is a blockchain-based game. In many instances, users can own virtual land and play games for money. Popular Metaverses include Decentraland and SecondLive. Decentraland, for example, is a decentralized metaverse built on the Ethereum blockchain. Axies, which are non-fungible tokens, allow players to construct avatars with over 500 body parts. In addition, they can breed up to seven times, and their offspring can be sold on a gaming platform.
The technology has great potential to disrupt the way that people communicate with each other and build relationships. Not only will the Metaverse facilitate social networking, but it will also give businesses new ways to reach their customers. In the future, businesses will be able to reach a new group of customers, with a greater range of products and content available. Ultimately, the Metaverse will transform the digital economy. As customers are exposed to new content and products in the virtual space, it will increase their chances of making a purchase.