The term metaverse has been around for decades since it was originally coined by science fiction writer Neal Stephenson. Metaverse became popular in the early 2000s with virtual reality games like Second Life, where players could make virtual avatars that represented themselves to explore and interact with a virtual environment. The metaverse did eventually flop, only to now become trending again thanks to companies like Facebook and Microsoft who are investing billions into developing metaverse technology. The current metaverse market provides many irresistible opportunities for investing in metaverse technology in its early stages. As the market is predicted to reach $400 billion in revenue by 2025, the time for investing is now.
There are many reasons why investing in the metaverse is a good idea, but one of the biggest reasons is due to COVID-19. The pandemic showed our society how reliant it was on the internet, for education, socialization, and work. Because of this, many online video games and streaming services saw a significant increase in new users as people turned to online worlds to escape their reality. This trend will only continue in the next few years, as the pandemic is continuing to make things uncertain. Psychological studies have already shown that internet addiction is on the rise, increasing the target audience for metaverse companies. This target audience is in fact so big that the Pew Research Center showed that 77% of Americans connect to the internet on a daily basis. This gives investors more motivation to look into metaverse companies, which will no doubt have high ROIs from such a large internet-using population.
Many metaverse companies are already seeing a higher revenue from the popularity of the metaverse. As many virtual video games buy and sell NFTs (non-fungible tokens) or cryptocurrencies, their revenue stream is built right into the internet itself, allowing users a seamless way to make money, and encouraging more payments to a metaverse company. Some countries are even using cryptocurrencies as regular currencies, so you could sell your bitcoin to buy a car, for example. For investors, this offers new opportunities to invest in the technology of the future.
Many metaverse companies are already here and are already showing that a metaverse is possible and successful. Online video games and virtual reality software have grown significantly in revenue, and are predicted to continue to increase in the future. The big data companies are paving the way for other investors to get into funding the future metaverse. The time to get in early is right now, as the industry continues to grow.
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