Quantum Wealth Summary
- The metaverse is one of the biggest buzzwords today.
- It promises to be the next version of the internet, delivering a virtual-reality experience where users can work and play.
- One global company is currently valued at $2 trillion. It is ready to build its version of the metaverse. Will this lead to future growth and opportunity?
- As a bonus: we also reveal our Weekly Top 5 Quantum Trends. These are the most impactful global opportunities that we are currently watching this week.
Exciting. Revolutionary. Transformative.
It feels like everyone is talking about the metaverse.
But…is it all just hype? Or could it be the next big thing?
If you’ve been reading the news, chances are, you already know a little bit about what the metaverse is about:
- It promises to be the next version of the internet. It will give you a seamless and immersive 3D experience where you can work and play.
- To make this possible, we’re seeing the development of physical hardware like headsets, which will allow you to connect to realistic virtual worlds.
- Meanwhile, on the software side, we’re seeing emerging tech like cryptocurrency, blockchain, and non-fungible tokens (NFTs).
- Here’s the big promise: you’ll be able to shop, socialise, and create through Web3 — which is World Wide Web 3.0.
But watch out. While you’re only hearing about the metaverse now, the idea is not new. It’s actually been around for a lot longer than you realise:
- As a proof of concept, the metaverse first appeared in a massively online multiplayer game known as Second Life.
- Released in 2003, Second Life allows you to create your very own avatar character. You can interact with other users in a vast virtual landscape that includes cities, forests, mountains, and even outer space. You can even buy virtual property or services by using a digital currency known as the Linden Dollar.
- At its peak in 2007, over 1 million people were reportedly playing Second Life. Its internal economy apparently hit over US$500 million in GDP. The game’s founder, Philip Rosedale, declared: ‘The 3D web will rapidly be the dominant thing and everyone will have an avatar.’
- Unfortunately, Second Life only really occupied a limited niche. A narrow subculture. It never hit the mainstream — and to this day, most people have never heard of the game. Still, the Linden Dollar remains a noteworthy achievement. After all, it did predate Bitcoin, which wasn’t released until 2009.
So…is the metaverse just a compelling video game? How practical is it?
Will we soon spend our time as avatar characters? Walking through virtual cities? Shopping in virtual malls? Buying and selling digital assets?
Well, maybe. Maybe not.
You have to strain your mind to imagine it.
However, supporters of the metaverse insist that the benefits are clear. In particular, augmented reality could help architects, engineers, and doctors to get infinitely better at what they do. Tech could augment human ability to an extraordinary degree.
As the old saying goes: ‘If you build it, they will come.’
So, one global company valued at $2 trillion believes there could be huge potential in the metaverse. It is devoting some serious resources to building its vision of future — which will act as a bridge between the virtual and the real.