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: 1- Purchase metaverse tokens 2 - Buy in-game non-fungible tokens (NFTs) 3 - Purchase virtual land in the metaverse (also sold as NFTs)
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.
Step 2: Open an account on the platform of your choice – Purchase metaverse tokens: The easiest way to procure these tokens is to head to crypto exchanges like WazirX or CoinDCX and use your currency-loaded wallet to purchase the tokens directly.
Among the most sought-after metaverse tokens are the MANA, the native currency of the Decentraland metaverse; SAND the currency of Sandbox metaverse, and the AXS, the native currency of the Axie Infinity metaverse.
– Buy in-game NFTs/own virtual land: You will need to create an account with the game you wish to make purchases in and connect your crypto wallet with their account. For example, log on to Decentraland for virtual real estate, Axie Infinity for characters and land plots, Sandbox to buy/sell artistic creations, etc.
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.
Investing in metaverse indirectly You can also invest in the metaverse through these indirect ways: – Buy metaverse-associated stocks: Stocks of organisations actively involved in the development of the metaverse are metaverse-associated stocks.
The organisations could be engaged in virtual reality (VR) goggles production, networking technologies, 3D rendering applications, etc. The most popular stock options include Apple, Facebook, NVIDIA, Roblox, and Unity. These stocks can be purchased through brokerages or metaverse ETFs (Exchange Traded Funds).
– Invest in Metaverse Index (MVI): Like stock market indices that capture the trends of the top-performing companies in the nation, the metaverse index captures the trends in entertainment, business, and gaming that are moving to the virtual universe.
It is currently trading at $225.86. The MVI reduces the risk involved in purchasing metaverse tokens as the volatility is significantly diminished. The MVI encompasses the trends of all the top-performing metaverse tokens in existence.