The virtual world constantly grows and evolves based on the decisions and actions of the society within it. Eventually, people will be able to virtually enter the metaverse (i.e. with virtual reality) or interact with parts of it in their physical space with the help of augmented and mixed reality.
Welcome to the metaverse, alternate digital realities where people work, play, and socialize. As mentioned in the previous article, the metaverse is a shared virtual space where people are represented by digital avatars. On this article, we’ll explain “why does the metaverse matter? “
The Metaverse will be the gateway to most digital experiences, a key component of all physical ones, and the next great labor platform. The Metaverse will produce the same diversity of opportunity as we saw with the web — new companies, products, and services will emerge to manage everything from payment processing to identity verification, hiring, ad delivery, content creation, security, and so forth.
More broadly, the Metaverse stands to alter how we allocate and monetize modern resources. For centuries, developed economies have transformed as the scarcity of labor and real estate waxed and waned. Under the Metaverse, would-be laborers who choose to live outside cities will be able to participate in the high-value economy via virtual labor. As more consumer spending shifts to virtual goods, services, and experiences, we’ll also see further shifts in where we live, the infrastructure that’s built, and who performs which tasks.
For example, gold farming. Not long after in-game trade economies emerged, many people become employed by a large company to collect digital resources for sale inside or outside the game. These sales generate higher income for them without having to work hard and get dirty.
Welcome to the Metaverse-Alternate Digital Realities
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