What Is the Metaverse?
Metaverse is a concept of an online and permanent 3D universe. It combines many different virtual spaces. You might think of it as a repetition of the future of the Internet. Metaverse will allow users to work together, meet, play, and socialize in these 3D spaces.
Metaverse does not exist entirely, but some platforms have elements like Metaverse. Video games currently offer the closest Metaverse experience on offer. The developers push the limits of the game by hosting events in the game and creating a virtual economy.
There are three common ways to invest in Metaverse:
- Buy tokens for Metaverse.
- Buy non-fungal tokens in-game (NFTs)
- Buy virtual land-based on Metaverse (also sold as NFTs)
Let’s take a look at three simple steps to investing in Metaverse:
Step 1: Create a Crypto wallet
Every purchase, such as physical items, requires a wallet full of cash. To invest in Metaverse, you need to create a Cryptocurrency wallet and fund it with the currency.
The most widely used Cryptocurrency wallet MetaMask is global for NFT purchases.
Additionally, Binance and Coinbase are viable options. Because most NFTs are based on Ethereum, it is recommended that you buy Ether (ETH) Cryptocurrency using your traditional currency.
By completing your customer’s (KYC) formalities, you can use your wallet and verify your identity.
Step 2: On your preferred platform, create an account.
Buy Metaverse Tokens the easiest way to get these tokens is to go to Cryptocurrency exchanges like CoinDCX or WazirX and buy them directly using your currency wallet. The Local Currency of MANA is the Most Wanted Metaverse Tokens in the Decentraland Metaverse.
Buy NFTs in the game/Get Virtual Land.
You need to create an account with the game you want to purchase and link it to your Crypto wallet. For example, visit Decentraland to buy virtual real estate, Axie Infinity to buy land plots, characters, or Sandbox to sell or purchase art creations.
With XANALIA, you can sign up for an account to access all NFTs in one accessible common market.
Step 3: Select the NFT you want to purchase and complete the transaction
If you browse through any of the platforms mentioned above like XANA, you will find that NFTs do not have a default selling price.
To acquire ownership of NFT, one must bid on it and leave all other bidders behind. Payment for NFT is then expedited through the wallet you created and funded in step 1.
The purchase of Metaverse also contains many advantages from the primary marketplace (Decentraland, Axie Infinity, Sandbox, etc.) versus the secondary market (OpenSea, etc.).
In the secondary market, the resale value of NFT will always be higher.
However, it is more difficult to determine its market value in the primary marketplace. Compare the rate of NFT with the costs of others in the secondary market, which collects all NFTs.
Indirect investment in Metaverse
In addition, you can invest in Metaverse in the following indirect ways.
Buy Metaverse Related Stocks
Metaverse Related Stocks are organizations that are active in the development of Metaverse. Organizations may be involved in developing virtual reality (VR) glasses, networking technologies, or 3D rendering applications, among other things.