In recent months you may have heard regularly about something called the metaverse. Some say it is going to replace the internet, some say we will live in the metaverse. Some say that Facebook, Roblox or many other smaller companies are trying to take over the metaverse. Add in the mix something about NFTs and you get a whole lot of confusion!
So what is the metaverse?
The term “metaverse” was coined by Neal Stephenson in his 1992 dystopian novel Snow Crash, as a successor of the internet, a virtual reality based world where avatars of real people “lived”. The metaverse is not something which can be seen. It is a combination of 3D virtual worlds and online infrastructure/assets. In simpler words, metaverse is a network of rendered worlds and simulations where you can create, explore and trade with people not in the same physical space as you.
Right now, when someone talks about the metaverse, they generally refer to a platform which includes some or all of these features
- Feature sets that overlap with real-world activities
- Real-time 3D computer graphics and personalized avatars
- Person-to-person interactions
- Ability to create and customize virtual items and environments
- Links with an economic systems so users can profit from virtual goods (more about this later)
- Designs that work well with VR/AR devices as well
What are these virtual goods?
Creating and transferring virtual goods is a big part of the metaverse. NFTs (Non-Fungible Tokens) are a way of recording who owns a specific virtual good at any point of time. And they are used as a financial architecture for the metaverse. So in a virtual world like Roblox, a player can buy NFTs like various gears and accessories. These NFTs can then be used to customize their avatar.
You talked about making money in the metaverse?
Yes! As of earlier this year, over $ 200 million have been dropped on the metaverse in NFTs. This includes art, gaming artifacts, collectibles etc. That is a LOT of money, especially in a space that a lot of people aren’t even aware of! You can make money on the metaverse in mostly 2 ways, selling your art as NFTs or by getting on one of the play-to-earn platforms. The Play-to-earn platforms (P2E) is what we are going to concentrate on in this post.
The metaverse is currently host to many coins in the cryptocurrency market and some of the most famous ones are associated with P2E – Axie Infinity (AXS), Blocktopia (BLOK), Yield Guild Games (YGG) etc. These P2E projects bring a new world to gamers and have created a model for generating revenue for these gamers. In simpler words, you play games and make money. Although still relatively new, this market is growing very fast.
While this is a good way to earn money, the assets (NFTs) that you need to play these games don’t come cheap. That is where decentralized organizations or guilds like metaverse Job Japan come into picture. These guilds invest money into the metaverse and purchase assets you need to play these games. The assets are then loaned out to players and whatever profit is made is divided between the player and guild.
Real world jobs vs metaverse jobs
Jobs in the real world are largely reserved for people who have received certain professional skills or training. During the past couple of years, a lot of people, skilled or otherwise, have had trouble finding jobs due to travel restrictions and lockdowns. On the other hand, jobs in the metaverse have seen a huge growth. Anyone who can play strategy games can start earning armed with only a wifi connection and a device (PC or smartphone) from anywhere.
The Play2Earn economy has seen a boom in the past couple of years and has helped many people in supporting their families even during a time of financial distress worldwide. During uncertain times like these, and with the increase in blockchain-based gaming, jobs in the metaverse are only going to grow in number and provide a wonderful world of opportunity to anyone for earning a little extra.
Are you also interested in exploring the world of metaverse and Play 2 Earn? Head over to metaverse Job Japan and start doing just that!