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FACEBOOK LOOKS TO CREATE AND DOMINATE THE METAVERSE

Facebook CEO Mark Zuckerberg has hopes for Metaverse’s online worlds that will eventually replace large parts of our offline life. Many people agree that this will be a reality and those within the tech community state this reality already exists. However those who say this view things such as live streaming , facebook , instagram, twitter , tik tok and everything that has to do with online activity as part of the “Metaverse” that is in current use. For those of you who are clueless as to what a metaverse is, a quick search on google gave this explanation , “it is a term used to describe immersive , shared spaces accessed across different platforms where the physical and digital converge. It’s mainly used in reference to shared virtual worlds where land , buildings , avatars , and even names can be bought and sold.”

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              CONCLUSION

It looks like Facebook plans to bring the movie “Ready Player One” to reality by making their virtual reality gear cheaply accessible to the masses to draw as many people in as possible , compounding the size of the digital economy. Facebook has a division within its company called Oculus that produces virtual reality headsets. They hope to improve upon this technology and make it more capable of competing with more powerful V.R. headsets and they have plans to also make their V.R. headsets  from a clunky helmet to looking like a pair of glasses instead. They plan to make a majority of their profit from advertising and the sale of virtual goods. This is where NFTS comes in and will likely be a big component of opening up a virtual market of items to be sold and I am sure the smart contract technology will be what is used to bring it all together. There is a big movement with the metaverse and digital real estate with a market that has people spending thousands of dollars to buy space to showcase their NFT’s and Avatars as well as showing off their virtual living spaces . Whether this will catch on or not remains to be seen , but I can see the potential for the success of this mission due to the current climate of the world due to the Pandemic and the fact that lockdowns have brought more people inside for longer periods of time. Some people are in long term isolation from family and friends due to fear of becoming sick or emergency mandates that require long term confinement at home.  This technology can be a way to bring some people a semblance of normal and the ability to socially interact without the risk of spreading disease or violating any restrictions countries may be enforcing in reaction to covid variants. Also I can see businesses using this technology to meet and also to sell their products and directly engage customers . Furthermore businesses can be set up to give customers a real world virtual experience of shopping. Home schooling can be done , still giving kids a real world class experience. And Blockchain technology can bring this all home to give a sort of virtual decentralized government. I read that Mark Cuban has invested in this sector with big expectations. One thing for sure if this does catch on , early investors will have an advantage in this space , because as always land ownership is king.