This is the economy of the Metaverse

The term metaverse is spreading in tech circles ever since the popular Mark Zuckerberg announced his multi-million dollar investment and that it is the path that your company will follow in the coming years. A technology that promises to be a inflection point to end up transforming the world as we know it, connecting a tangible reality with a virtual one.

But what exactly is the metaverse? What consequence will its proliferation have for the real economy? And for companies? Let’s analyze it next.

The relationship between the metaverse and the real economy

The metaverse feeds on the resources of the real economy and the digital economy. Resources in the real economy include energy, natural resources, labor, and financial services. The digital economy provides the technology systems and digital networks necessary for the metaverse to function. The economy of the metaverse draws on these resources to prosper and expand.

However, they are not separated. The economy of the metaverse is connected to the real economy and depends on it. While at first glance the metaverse appears to be an independent economy, will depend on the successful functioning of the real economy. Therefore, companies must be aware that their metaverse activities will always be linked to the traditional economy, an extension of their real-world transactions.

As the metaverse expands and becomes more popular, it is important that investors and companies have a good understanding of the ins and outs of this virtual world and, more importantly, the economics behind it.

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Its economy is expanding and consequently creating new opportunities for businesses. These new opportunities stem from how virtual worlds are being used and monetized. Some of the ways companies are generating revenue in the metaverse include selling virtual goods and services, advertising in the metaverse, the sale of user-created content and the marketing of virtual spaces.

Many sectors are already positioning themselves in this reality. In real estateled by the company MetaSpace Real Estate Investment Trust, is already acquiring plots, building virtual structures to subsequently obtain profits through their rental.

Companies in the metaverse

As the metaverse expands and becomes more popular, it is important that investors and companies have a good understanding of the ins and outs of this virtual world and, crucially, how to take advantage of your development.

Companies can also generate income by marketing virtual spaces. Virtual spaces can be used to host events, such as concerts and conferences, or to promote products and services. Companies can charge for the use of these spaces or can sell advertising space within them.

One of the companies that is benefiting from the economy of the metaverse is Linden Lab, the creator of Second Life. Second Life is a virtual world where users can interact, create content, and buy and sell products and services. According to Linden Lab, the goal of Second Life is “to create an experience where users can experiment and express their creativity, connect with others, and have a meaningful impact on the world around them.”

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Second Life is a virtual world that has been used for a variety of commercial activities.. In Second Life, businesses can sell virtual goods and services, such as avatar clothing and accessories, houses and land, and services, such as dance and language classes. They can also use this virtual world to promote and sell real products and services. For example, IBM has created a virtual office in Second Life to promote its information technology services.

In this digital environment, users can buy and sell products and services using the virtual currency “Linden Dollar”. Linden Lab profits from these transactions by charging a fee for each transaction. Linden Lab also benefits from advertising in Second Life. Advertisers can buy advertising space in Second Life and pay in Linden Dollars. In this way, Linden Lab not only charges for transactions made on its platform, but also generates advertising revenue.

Another way companies are generating revenue in the metaverse is through the sale of user-created content (UCC). User-created content is any type of content that users create and share online. Examples of UCC include photos, videos, music, games, and apps. There is a high demand for this type of content as users are willing to pay for it.

The economy of the metaverse is a threat to companies that are not prepared to compete in this new environment. Competitors in the metaverse may offer better and cheaper products and services than traditional companies. They can also use new forms of marketing and advertising to reach customers. Companies that are not prepared to compete in the metaverse may be forced to go out of business.

Another company benefiting from the metaverse economy is IMVU., a 3D virtual worlds platform. IMVU focuses on the creation of user-generated content and the marketing of this content. IMVU users can create avatars, products, and virtual spaces, and then sell these products and spaces to other users. IMVU profits from these sales by charging a fee for each transaction.

As the economy of the metaverse continues to expand, more companies are expected to emerge to benefit from this new economy to take advantage of the opportunities and potential offered.


Source: El Blog Salmón by www.elblogsalmon.com.

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