The Metaverse Explained Part 3: Economics | Loup

The Metaverse is the successor to the internet, and all the worlds in the Metaverse are equivalent to the internet's websites. We can now visualise and experience what the worldwide web can offer in a 3D user interface.

This new interface will reveal new opportunities for existing websites to reinvent their user experience. For example, instead of looking at some photos and reviews on a webpage, you would be able to touch and test out the digital version of an object.

High Fidelity is an existing social virtual reality company and is a good example of how the building blocks of the Metaverse and its economy are put in place.

High Fidelity Metaverse gives open source tools to build anything you can dream of, like avatar clothing, items, and buildings. Creations are certified and recorded on the blockchain, then made available for purchase using High Fidelity Coin (HFC). The items you acquire or create within the game is linked to you, where you can bring your avatar from one world to another, including your skills, belongings, and appearances.

With an economic system in place, the Metaverse could drive significant growth in every industry. Wall Street analysts will be asking the CEO of major organisations what their Metaverse strategy is on earnings calls. Companies will have teams to advertise, sell, or build products in the Metaverse.

A new generation will be able to learn, make a living or build the next big company because of the economic structure provided by the Metaverse.