Several real-estate deals this year worth millions of dollars have put the word ‘metaverse’ at the tip of our tongues. The metaverse is a virtual world that users can explore using personalised avatars. It extends beyond gaming and allows visitors to interact virtually and experience various activities in real-time. Experts believe the metaverse now represents a unique $1 trillion revenue opportunity.
How to invest in metaverse
There are three ways in which you can directly invest in the metaverse:
Let’s dive into how you can invest in the metaverse with two easy steps:
Step 1: Create a crypto wallet (common for all)
Every purchase, just like physical commodities, requires a wallet full of money. You need to create a crypto wallet and load it with currency for investments in the metaverse.
Verify your identity to validate your wallet by completing know your customer (KYC) formalities.
Step 2: Open an account on the platform of your choice
You can create an account with OpenSea if you wish to access all the NFTs in one shared marketplace for convenience.
Step 3: Select the NFT you wish to purchase and make the payment
If you browse any of the above platforms, you will notice that NFTs do not have a pre-decided selling price. One must bid for it and beat all other bidders to gain ownership of the NFT. Paying for the NFT is then quickly processed through the wallet you created and filled with cryptocurrency in Step 1.
You must remember that there are upsides and downsides to buying from a primary marketplace (Decentraland, Axie Infinity, Sandbox, etc.) and the secondary marketplace (OpenSea, etc.). An NFT on the primary marketplace will inevitably have a higher resale value. However, it is harder to estimate its true value in the primary marketplace. It is because you can compare the price of one NFT against that of others on the secondary marketplace that displays all NFTs on one common platform.
Investing in metaverse indirectly
You can also invest in the metaverse through these indirect ways:
The metaverse is continuously evolving, and many developments are still in the pipeline. We are witnessing a massive transition from the physical world to the virtual world. While the potential is vast, it is advisable to thoroughly research before making any significant investments.
(Edited by : Yashi Gupta)