Imagine our world, then picture it fully digital. For many, it looks like the metaverse, an immersive virtual space where we can log on to meet friends, shop, work in virtual offices, and even buy virtual real estate. Offering an estimated $800 billion market opportunity, the metaverse is eyed by online game creators, social networks, and various tech leaders who are looking for the next game-changing technology platform.
Although social media companies see it as a way to capitalize on revenue, building the metaverse is not exactly cheap. Facebook’s parent company, Meta, lost more than $10 billion in 2021 alone just to work on building its own vision of the metaverse. Such losses prove that companies like Meta are investing astronomical amounts of money to discover their next growth stage.
In the metaverse, making purchases is possible through crypto wallets. They are made to keep your cryptocurrency safe and easily accessible by storing your private keys. You’d be able to receive, spend, and send out cryptocurrencies such as Bitcoin and Ethereum. There are various forms of crypto wallets, whether it’s a USB stick or a mobile app that makes it similar to shopping online.
To look at this emerging world, Wicked Reports compiled a list from news reports and expert predictions exploring the ways that people may shop for different types of real and virtual goods in the metaverse Some of these options are already available to try today, others are in the early phases of development. But the metaverse is coming, and here is how it may affect your buying habits.