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The metaverse is a network of virtual environments in which many people can interact with one another and digital objects while operating virtual representations or avatars of themselves. Web 3.0 will be the foundation for the metaverse. It will consist of blockchain-enabled decentralized applications that support an economy of user-owned crypto assets and data.
The metaverse isn’t being built by any one group or company. Different groups will build different virtual worlds, and in the future these worlds will be interoperable forming the metaverse.
So question is that what will you keep in your crypto wallet? You will want to carry cryptocurrencies in the metaverse. Your crypto wallet will also hold your metaverse digital goods, like your avatars, avatar clothing, avatar animations, virtual decorations, and weapons and many more.
User will be able to purchase traditional digital goods like music, movies, games, and apps. You’ll also be able to buy physical-world items in the metaverse, and you’ll be able to view and “hold” 3D models of what you are shopping for, which could help you make more informed decisions.
So, if the metaverse is money, then companies will also want to play. The decentralized nature of blockchain will potentially reduce the need for gatekeepers in financial transactions, but companies will still have many opportunities to generate revenue, possibly even more than in current economies.
Major brands are also getting into the NFT mix, including Dolce & Gabbana, Coca-Cola, Adidas, and Nike. In the future, when you buy a physical world item from a company, you might also gain ownership of a linked NFT in the metaverse.
For example, when you buy brand outfit to wear to the real-world dance club, you might also become the owner of the crypto version of the outfit that your avatar can wear to the virtual Ariana Grande concert. And just as you could sell the physical outfit secondhand, you could also sell the NFT version for someone else’s avatar to wear.
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