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It’s a fresh new year and 2022 will be even bigger and better for the progress of all things cryptocurrency† Last year saw a boom in excitement surrounding NFTs, GameFi, and the future of the metaverse. The Collins Dictionary declared NFT (nonfungible token) word of the year, while Facebook rebranded and relaunched its umbrella company as ‘Meta’, which, while pushing the idea further into the mainstream, met a wave of annoyance from the industry. But one thing is certain: everyone from gamers to corporations to diplomats is rushing to be the first to be initiated into the foundry of this looming future landscape, the metaverse.
If the future of our world is planted in the metaverse, is it a good idea to have a financial plan for this future? Traditional financial advisors would struggle to have confidence in guiding clients to invest their retirement money in parcels of digital land, but as the future of wealth gets closer to this reality, there are hard truths to face that by Some literacy and integration to establish metaverse targeted investments in financial plans can be a good idea.
As Aristotle said, “the more you know, the more you realize you don’t know.” As with most areas of investing, hitting the ground floor creates the best chances for success. Here are some ways financial planning for the metaverse can be implemented in everyday life.
The Rise of Digital Assets
Where there is a virtual world, there will be virtual investment opportunities. NFTs affect almost every sector of investment and lifestyle. As the art world gains universal coverage with a single NFT selling for over $90 million (The Merge by Pak sold for $91.8 million on Nifty Gateway in December 2021), NFTs have integrated themselves into the world of GameFi and the extremely lucrative gaming industry, allowing users to earn a real income playing their favorite games through the innovation of blockchain technology and NFTs.
This trend is also finding its way into real estate. Republic Real Estate, a company that has historically raised money to buy distressed apartments in the physical world, has launched a fund earlier this year aimed at investors looking for buy virtual land† Their hope is to develop several plots of virtual land into shopping malls, apartments and other uses, with the expectation that crypto enthusiasts and investors will see their value increase.
The general public is well versed in online shopping. It is often the preferred method of purchasing goods for most people today. With the rise of the metaverse and the movement of online shopping becoming a unique virtual experience, participants are becoming more interested in their virtual avatars and appearance. What was once online clothing shopping in the physical world is shifting to online clothing, style and other appearance-related aspects in the virtual world. People who are already interested in these virtual trends report that the prices for customizing avatars [subscription required] and shopping related to virtual aesthetics are steadily increasing, creating a strong supply and demand for virtual aesthetics.
Submerged remote working
The pandemic created the need for a shift from office spaces to remote working. This shift was pushed as a temporary solution to the setbacks of a global virus, but many large companies see this as a way to move completely to remote areas. While it can be challenging, the foundation for a virtual workforce was already there for many people.
While some companies are concerned about the move, the places where the metaverse affects this shift are actually enhancing the remote experience to become more immersive and more connected. The idea of sitting alone at a desk and typing in front of a computer turns into virtual reality meetings, connecting via avatars and immersive presentations [subscription required] that enable the full experiences of connected work to be realized.
Changing the future of the real world
While the virtual world seems to be moving forward at lightning speed, the physical world will not disappear anytime soon. While it may seem like the virtual world is taking over, there are still so many steps ahead of us to take as we move closer to a metaverse landscape. With emerging technologies and the awakening of interests, the metaverse is slowly taking shape, more and more aspects of our physical world are being further integrated into the virtual one, as cryptocurrency, gaming, work and everyday life submerge, investment companies and traditional practices will continue to adapt to these changes. , including financial interests and future planning.
Eran Elhanani is co-founder of BullPerks and GamesPad†
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