Ever felt like escaping to another world? We all did at some point.
From being completely immersed in a novel or playing retro video games to binge-watching Netflix series on a Saturday night, the way of escaping reality for relaxation has evolved dramatically with time. Thanks to unwavering technological developments, we are about to witness an altogether different world to escape to. Yes, that’s right!
Enter the Metaverse.
If you are a tech buff, you might have already heard the term.
One of the largest social media channels, Facebook’s rebranding to “Meta” has grabbed the attention of people from different corners of the world. While the development of a full-fledged metaverse is going to happen sooner or later (thanks to blockchain technology), we are already witnessing several platforms and NFT games that provide a metaverse-like experience.
Even though the metaverse is a trend in itself in the blockchain and crypto space, some noteworthy shifts are taking place in the digital world.
Let’s discuss 5 latest metaverse trends that you should watch out for in 2023:
Blockchain-based NFT games
Blockchain-based NFT games are leading the evolution of the metaverse since the beginning. Among all other trends, gaming will continue as the biggest trend in the metaverse. Three of the top five metaverse tokens are connected to gaming. They are MANA, SAND, and AXS, which are connected to the popular blockchain-based games Decentraland, The Sandbox, and Axie Infinity respectively.
As per a report published by Blockchain Game Alliance (BGA), NFT-based games generated $2.32 billion in revenue in 2021. This gives a fair idea of how important blockchain gaming is to the metaverse. With a slew of blockchain games hitting the market this year, the trend will most likely continue.
Also, check out: How you can market an NFT game? Let this be from experts.
Utility of NFTs and meta tokens
With the rise of virtual reality, NFTs and other meta tokens will become helpful in a range of situations within the metaverse.
Axie Infinity game was developed in 2018 with AXS as the meta token utilized in the game. Besides the meta tokens like MANA and SAND, several NFTs are going to find a utility inside the metaverse. NFTs can be used as virtual world passes to attend events. Imagine a situation where a popular virtual concert can only be accessed by the people who own NFTs from a particular collection. Interesting, right?
Virtual real estate
Millions of dollars were traded to acquire land within the metaverse in 2021, indicating the growing popularity of virtual real estate. According to a DappRadar report, more than $100 million in land purchases occurred in a single week in November 2021. The Sandbox was the most active virtual space in land transactions, with the largest trading volume of $86 million.
Snoop Dogg, the rap legend, made news when he announced that he is rebuilding his California property in the metaverse. The next plot, which sits near Snoop Dogg’s mansion, went for more than $450,000. Real estate is never a bad investment, and it is booming even within the metaverse.
The beauty industry inside the virtual world
Avatars are what wander throughout the metaverse to help people in gaining a virtual experience. Who doesn’t want to look beautiful, whether it’s an avatar in the digital world or humans in real life?
According to Cosmetic Business research, veteran brands such as Beiersdorf, L’Oreal, Estee Lauder, Louis Vuitton Moet Hennessy, Jo Malone, Gucci, and Dior want to offer make-up ingredients for 3D avatars and create NFTs in 2022. The beauty industry and metaverse appear to be joining sooner than we think.
Virtual music concerts
Virtual concerts inside the metaverse will act as catalysts for the mainstream adoption of the digital universe.
From The Weeknd and Travis Scott to Justin Beiber and Ariana Grande, several pop singers are playing in virtual concerts. The Weeknd performed “Blinding Lights” featuring an animated version of the artist in August 2020. Millions of online gamers were thrilled with concerts featuring Ariana Grande and Travis Scott in the famous online video game Fortnite. With various singers and influencers joining the virtual concert, the trend is likely to lead to the adoption of the metaverse in 2023.
Final thoughts
Even though the metaverse is still in its early phases of development, it will become a reality sooner or later. With the attention of tech titans, pop artists, and well-known businesses, the metaverse has the potential to blur the barriers between the real and digital worlds.
Are you building a blockchain project for the metaverse? Whether it’s an NFT-game, DeFi project or Metaverse project, you can reach out to MetaWise — Your Marketing Partner. We ensure your project has a mega presence in the metaverse. So are you ready?
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