I was unable to attend any live metaverse events this week but I have participated in the metaverse before buying NFT’s. I found the metaverse fascinating and perplexing since I first learned a little bit about it. What compels people to spend thousands of dollars on pixelated pictures of animals? The more I learned about it, the maire it made sense. NFT’s are essentially like virtual trading cards. They’re collectibles and have the potential to increase in value over time, just like rookie baseball cards and pokemon cards. Another major attraction about buying NFT projects is that it enters you into an exclusive community only accessible by owning an NFT. In these communities you can make friends all over the world, attend virtual as well as in person events, and receive unique rewards, such as clothing, and other NFT’s. The metaverse has a large connection with the gaming community and there is a large overlap in the demographics of both groups. This is a group that is typically the younger generation that spends a lot of their time online already. For them, it can be a way to make friends and have fun without having to go outside. Am I a supporter of that aspect? No. I think the metaverse has many potential downsides, but many upsides as well, which is why big tech companies are investing billions of dollars in building infrastructure that could be shaping the newest version of the internet as we know it. We’ll see what happens.
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