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How Money Is Being Made In The Metaverse

Meta this, Meta that, it’s all we seem to hear about nowadays and it can feel frustrating to not feel part of this technological shift.

Fear not, the shift is slow and steady and it will be about twenty years before the Metaverse is fully matured and morphed into a virtual reality sphere.

Illustration by Supertotto for TIME

However, while we are amidst its beginnings, we might as well capitalise on this shift in digital communication? Brands like Sotheby’s and Atari are jumping on the bandwagon before it blows up. The auction house actually just auctioned off an NFT artwork for almost 70 million dollars. Convinced yet? 

As for Atari, the company just leapfrogged the entire current generation of gaming by launching its own cryptocurrency: Atari Token. The goal for Atari Token is to become the cryptocurrency token of reference for the video game and entertainment industries. By creating a market for quick and easy token transfers, backed by the assurances of smart contract technology, it will allow developers and gamers to effectively monetize their digital assets.

Atari is applying their classic gaming expertise in a new, cutting edge approach to in-game items trading. IMVU has built the kind of virtual world people want to exist in. They may be drawn in because of the pandemic, but they’re attending virtual events and buying gear for their avatars because it’s fun and immersive.

Brands like these are cleverly moving along an inevitable trajectory and looking into how best their brand fits within a virtual reality world. Such forward-thinking and planning is crucial in the survival of brands as its not a question of if but rather when we live in virtual reality that all brands will have to question the necessities needed under this remarkable shift. 

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