In 1992, Neal Stephenson introduced the metaverse to the world for the first time in a novel called Snow Crash. This novel is a science fiction novel. A large part of the novel deals with how the metaverse affects the real-world developments of the protagonist, and the author has tried to define it as a physically stable virtual space.

But after several years of the introduction of the metaverse, in 2017, Vitalik Buterin, the founder of Ethereum, started developing decentralized programs, and it became possible to produce NFTs. With the help of these tokens, people can create their avatars in the metaverse. The following year presents the evolution of the metaverse concept.

Where We Are Today

Crypto economies are the emerging frontier of investment markets, and the metaverse is ushering in the evolution of Web 3.0. Metaverse is a collection of three-dimensional, interconnected, and experimental virtual worlds. The metaverse is where people anywhere can interact in real-time to create a sustainable, user-owned economy that spans the physical and digital worlds.

Methods of Entering the Metaverse

The metaverse is still emerging, but many key components are beginning to take shape. From e-marketing to media, entertainment, and even real estate, the metaverse is now all-encompassing, and numerous metaverse projects are underway. On the other hand, investors and crypto enthusiasts are eyeing these projects because these areas have great potential. In general, there are different ways to enter the metaverse world, which we will mention in this section.

1. Entering metaverse through the game: There are many blockchain games that users can play and earn money.
2. Logging into metaverse through the interface platforms: Users can easily create an avatar on some platforms and enter the metaverse.
3. Entering metaverse by purchasing land: Some metaverse platforms allow users to buy land. Users can buy land and invest in these platforms.
4. Entering metaverse by buying metaverse tokens: Users can also enter metaverse by buying metaverse tokens.

Current Investments in the Metaverse

In total, $24.9 billion in NFT sales were recorded in 2021, compared to just $94.9 million in 2020. With the growth of this space, tech giants, including Facebook and Microsoft, and retailers such as Nike, Gucci, Coca-Cola, etc., have become very eager to invest in the metaverse. 

Major computer chip makers and infrastructure service providers are also developing the products and services needed for the “great migration to the metaverse.” All these things paint the bright future of the metaverse for us.

What Will Be the Future of the Metaverse

Metaverse combines with Web 3.0 technology through blockchain technology (such as NFTs and cryptocurrencies). Therefore, the future of the metaverse will be like our real world and even replace some real-world activities (such as work or leisure). Currently, some vendors in metaverse have activated their NFTs to the metaverse games, such as buying clothes and shoes, and are planning to create businesses to enter this field.

An increasing number of NFT enthusiasts are also looking for opportunities in the metaverse world to invest in virtual real estate. On the other hand, people who are not interested in the metaverse, but look at it as a profitable field, can invest in the stocks of metaverse companies because they have much higher returns than other cryptos.

In the future, the metaverse can also greatly contribute to the virtual economy’s growth. In this way, users and creators make much profit, and if NFTs are included in the in-game assets, this profit can increase. Because the metaverse takes place with the participation of active companies and brands, the future of the metaverse is also focused on no interference from a single community or company.