For many of us the word “Metaverse” came into lime light when Facebook changed its name to Meta. Some of us think that Facebook changed its name to escape the bad publicity it was getting at that time. According to timing aspects it is true. However it is more reflecting the future of technology we are heading towards. Not just Facebook the tech giants like Microsoft, Google, Amazon, Roblox, Epic, and even H & M the clothing brand is investing billions of dollars in the Metaverse.
It is not a new concept. First of all “Metaverse“ was described in the book Snow Crash by Neal Stephenson in 1992. After that, in 2011, the book named Ready Player One by Ernest Cline brought this concept forefront as the technology started to catch up. Metaverse is a network of 3D virtual worlds which is focused on enhancing social connections. In short Metaverse is all about wearing a pair of glasses or googles with earpieces connected to them. With your desktop or mobile connected to them and you are all set for the Metaverse. The possibilities are endless. Because you are experiencing a whole new digital world without even stepping out of your home.
Metaverse or virtual world is seen as the future of the internet by many experts. People can see many places, choose destinations, purchase land in the digital world, create NFT exhibits, sell digital materials, even you can experience your office meetings, and many more. There are endless possibilities in Metaverse.“Metaverse is like having a world within the world but this world’s control is in your hands”.
“Look at the power of time and human intelligence. A few years ago we could not live well in the natural world and now we are going to live in the virtual world very soon.”
Metaverse is trending right now and it is known the technology of the future. Metaverse projects are considered to be the most contentious investments of the future. Many large and small companies are investing in the infrastructure to support this technology. Rumors are that by the end of this year Apple will launch its first Metaverse headset contributing in the league of Metaverse. Here are some trends in 2022 for Metaverse:
Metaverse coins are the trending thing in the cryptocurrency market. As of 2021 the total market capitalization of Metaverse by large companies was $14.8 trillion US dollars. It is estimated to evolve in 2022. More than 100 coins are announced to launch in 2022. Leading projects on coins are AXS, MANA, and SAND.
The coin AXS came into existence in 2018 with the game called Axie Infinity, it is a block-chain based game for Metaverse. It was founded in Vitenam. AXS is considered to be the first currency used in Metaverse. The full form of AXS is Axie Infinity Shards. Axie Infinity game is in its development stage. Already 3.6 billion coins are already traded on their market place. $8,20,000 is the most expensive Axie sold up to the date. There are around 2,80,000 daily active players on the game.
The coin SAND is developed on Ethereum block-chain based gaming platform by the gaming company Pixowl in 2011. SAND coins are used within the game called Sand Box. In this game there are various features like creating your own NFT, we can design games, interact with other people, you can make your own avatars and many more things. There are 5million SAND coins distributed until now. 15k NFTs are distributed on Sand box. 150k+ hours are spent cumulatively on the game.
Recently in the cosmetics magazines the recent trend is addressing towards the diversification towards Metaverse. Recently the CEW( Cosmetics Executive Women ) held a discussion on how to Gamify your marketing: Exploring the Metaverse. In that discussion they have talked about how both the industries will drive towards the new world Metaverse. This merger has opened many new doors for both the industries.
This merger will help you create your own game avatars backed with beauty and cosmetics products which are available virtually on the platform. Many cosmetic brands like Dior Beauty, Beiersdoef, Lois Vuitton, NARS cosmetics, L’Oreal, Estee Lauder, JO Malone, Holition, Shiseido, are set to launch their 3D make-up materials on Metaverse and will also develop NFTs on gaming platforms.
Disney the creator of many loved characters like Mickey Mouse, Donald Duck, is preparing to move towards the Metaverse universe. Recently the CEO of Disney Bob Chapek hinted that they are working on launching the Disney Metaverse. Bob said that it will unlock “limitless potentials” for the Metaverse to enhance the entertainment experience for both digital and physical worlds.
The Disney is planning towards a new tomorrow where your beloved characters of Disney can become a part of your Metaverse universe. It might be a possibility that you can experience the Disney theme parks with the convenience of your home. Disney is still working on this development and it will gain pace in 2022.
Recently the renowned clothing brand H & M announced its first brand store in the city called “CEEK” created on Metaverse. This virtual universe lets users shop cloths on multiverse. You can shop through Ceek coins which are available in the Ceek city in Metaverse. H & M has planned to develop many stores across the Metaverse. They have also planned to collaborate with many famous actors, singers, and other creative peoples.
On December 13th, 2021 Nike acquired NFT studio RTFKT which is known as the leading brand in cutting edge innovations to deliver next gen collectibles that merge gaming and fashion. In February 2021 RFTKT launched limited edition sneakers which were paired with virtual ones in collaboration with teenage artist FEWOCIOUS. Within 6 minutes of the launch there were around 600 pairs sold total amount netting to be $3.1 million. Terms of the acquisition are not disclosed.
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