Following the popularity of the metaverse and other NFT assets, Play-to-Earn, or P2E gaming, has the potential to be the next digital megatrend that will revolutionize gaming for both creators, investors, and players alike.
The blockchain-based metaverse Decentraland is having a fashion show. A real — well, “real” — one, with models, catwalks and even afterparties.
It’s been a record year for the cryptocurrency market, which briefly surpassed $3 trillion in value in November. Bitcoin, the largest cryptocurrency by market value, and ether, the second-largest, hit all-time highs, while altcoins, like meme-inspired dogecoin, surged in popularity.
The sale of virtual real estate within the metaverse platforms, which include the buying and selling of lands, buildings, and virtual stores through companies relying on blockchain technology, is on the rise.
Investment firms are getting in early on digital land, betting values will rise as many people join in.
On Friday, Adidas managed to mint all 30,000 of its NFTs in a matter of hours. The collection — dubbed "Into the Metaverse" — was the first NFT drop ever from the company, and was a collaboration between NFT figures Gmoney, Punks Comic and Bored Ape Yacht Club. Each NFT cost 0.2 ETH (which is currently around $763), which adds up to more than $22 million from sales.
Virtual real estate is the newest buzzworthy investment right now, but it's not new, nor is it without merit. In fact, if you have the stomach for it, I firmly believe you should be putting some money in well-chosen metaverse real estate.
The metaverse or virtual universe is yet to be fully developed, but has already become a hotspot of deal activities. Brands, individuals and influencers are increasingly involved in the development of the metaverse where people can do everything from shopping to even attending events or concerts through their digital avatars.
More and more Wall Street firms are addressing the metaverse and Web3 to clients and investors, a potential sign of adoption.
Transactions for properties in digital realms are jumping, guided by the same principle in the physical world: location, location, location.
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