If you had the luxury of choice to change anything about yourself, would you?
People have long desired to change their appearance, fulfill their dreams, and travel to the most remote of regions. Sadly, these desires always seemed too far out of reach for most people. Limitations with technology, medicine, or social norms made it unavailable. It was only for the realm of the privileged.
That is until we formed the early digital worlds through video games. Titles such as The Sims allowed us to create, dress, and control the lives of virtual characters. Digital worlds showed us the potential of reflecting real life into the virtual realm.
A dozen or so years since the release of The Sims, and now we have the concept of the Metaverse – the digital equivalent of the real world. This concept has captured the imagination of technology giants and the world’s largest corporations.
In fact, Steven Spielberg visualized his version of the metaverse in the 2018 film Ready Player One. Despite looking bleak, it outlined the potential of the metaverse. One that promised enormous profits, fame, and immortality.
Similarly, Facebook’s Mark Zuckerberg changed his company name to Meta as a show of solidarity towards the Metaverse concept.
Other companies have followed suit from various industries like fashion, wearables, jewelry, and FMCG. Industries have realized the change in priorities of consumers who now value intangible goods as much as tangible ones.
Generation Z is the section of consumers most immersed in the digital world after the Millennials. They are the greatest force on the internet– setting directions and trends that shape the future global digital market of goods and services. For example, the gaming industry developed progressive subscriptions; Pay 2 Win models; and the buying and selling of virtual items for cash.
However, in this new generation of intangible goods, scammers still exist to take money away from innocents. That’s why there has been a rise in the prioritization of cyber-security in recent years.
One such way to ensure security is through NFT technology, which allows for safe and automated transfer of value from the real world to the metaverse. The technology confirms sales by a unique certificate based on blockchain technology. As a result, art, record collections, shoes, purse, or any other material may be worth as much in the metaverse as in the real world.
Today, the world’s largest companies are changing their business strategies and multi-billion fortunes are being created as we speak.
Eventually, we might all find it difficult to define the difference between virtual and reality.
Radosław Krzycki – investor, creator of IT projects and solutions based on blockchain technology. Founder of the go2NFT project, operational director (COO) of the Skey.network blockchain platform, designer and creator of innovative NFT blockchain solutions dedicated to brands and corporations.
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