Mark Zuckerberg loves the metaverse, even to the point of renaming Facebook as Meta Platforms. But is the metaverse for real and, if so, what does it offer users and investors? GinaChon and olivertaslic explain:
WASHINGTON, Jan 28 - Mark Zuckerberg loves the metaverse, even to the point of renaming Facebook as Meta Platforms
But the potential is there for more. Metaverses can expand the availability of certain activities, since there are no limitations relating to accessibility, travel or public health. Last September, rapper Snoop Dogg partnered with metaverse platform the Sandbox to create Snoopverse, which will include a virtual version of his real-world mansion to host parties and hold concerts. The Sandbox’s majority owner, Animoca Brands, on Jan. 18Many of the platforms embrace decentralized models.
Because of brands trying to reach consumers in this new world, advertising is another play. Tokens.com plans to be a digital landlord, charging companies like Nike to market to users or lease virtual stores. It can be pricey. A user paid about $450,000 in December to be Snoop Dogg’s digital neighbor. Early access passes to the rapper’s metaverse were going for about $1,600 each in late January.There’s plenty to consider, for sure. First off, the value of a platform, its real estate and any dedicated cryptocurrency depend on popularity. Different metaverses are generally not interoperable so even if the concept takes off, some of them could wither, taking the value of related assets down.
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