There’s hype galore, for sure — but is there money in the metaverse? Yes and big time... Eventually.
And the world right now seems to be in the midst of shifting down from that initial burst of excitement to the longer build up. “Some of that was ill spent,” he said. “Clearly, there’s been a lot of hype around some of the NFT projects and so on. Some of that is now coming off, the froth is coming off the market.”
“Then in the next 20 years, we got Facebook, Meta, we got Google, Amazon, Alibaba, Tencent,” said Alavrez, pointing to the trillions of dollars of value created. He said the metaverse will be centered on, “the seamless fusion of digital and physical, immersion and ownership of digital assets and data.” Alvarez said the metaverse will require some risk taking, experimentation, caution, thoughtfulness and curation — a little bit of everything.
“The danger is you do that in the metaverse,” Alvarez said. “Be ready to make mistakes, but move and stay clear on the long-term goal, which is clearly about building a revenue stream whilst maintaining premium” positioning.
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