Metaverse Currency News-Take a look

Metaverse: Proponents believe annual sales of 1 trillion dollars are possible, skeptics speak of "old wine in new bottles". If the analysis company Greyscale has its way, then crypto-Web 3.0 metaverses could soon generate annual sales of over 1 trillion US dollars and thus compete directly with Web 2.0 companies. As a new Handelskontor infographic shows, Metaverse projects are indeed the trends of the hour, but not everyone is convinced of the potential.

Metaverse is virtual 3D worlds that are interactive, dynamic, and suitable for collaboration - so-called virtual reality areas. Popular applications here are, for example, Decentraland, The Sandbox, or Axie Infinity. Payment is made in the respective metaverse with corresponding cryptocurrencies, for example, MANA in Decentraland and SAND in The Sandbox.

The potential of metaverses such as Decentraland is now recognized by a large number of actors. The game is based on the Ethereum blockchain. Fashion labels like Gucci and Ralph Lauren have set up their own virtual shops there, and the auction house Sotheby's has also set up a digital branch in Decentraland. Real estate securitized using NFTs sells for hundreds of thousands or even millions of US dollars.

The said digital assets have recently increased in value enormously. The price of Decentraland's motto, MANA, climbed 6,001 percent over the year.

Some actors see that Metaverse as a further development of the Internet as we know it today. Others, however, such as Jakob Steinschaden from Trending topics, speak of "warmed-up marketing abuse": there have been metaverses that can be experienced in 3D for much longer - the game "Second Life" goes back to 2003, for example.