The term metaverse is a fascinating one, and its common use in traditional and social media is on the rise. The metaverse doesn’t really refer to any one specific type of technology, but rather a broad shift in how we interact with technology.
What makes up the metaverse?
Technologies that make up the metaverse can include virtual reality — a place where virtual worlds that continue to exist even when you’re not playing — as well as augmented reality that combines aspects of the digital and physical worlds, like if you ever played Pokemon GO. Even Zoom could be deemed part of the Metaverse when you consider you can put a backdrop like swimming in the ocean while you are presenting your annual reports in an office meeting.
When is the metaverse likely to be in full swing?
While it feels like it is getting hyped up in every second news article and conversation, the metaverse is still some time away from being a core part of our lives. It could be years before we truly see all the elements in perfect harmony.
Is digital commerce the key to the metaverse?
There are those who suggest virtual assets are the future, such as virtual property and virtual art. But virtual assets and items is not a new thing. They exist now – Bitcoin for example would be considered by some as a virtual asset. World of Warcraft is a persistent virtual world where players can buy and sell goods. Fortnite has virtual experiences like concerts. But brands and companies are bracing for a future influx of revenues on the back of users and customers buying virtual items like groceries, handbags and watches. A critical component to the metaverse digital economy success will be the ability to take virtual items like clothes or cars from one platform to another, between platforms and games.
Who stands to gain the most from the metaverse?
Rather than competition between tech companies, such as what we see in the current state of the internet, the metaverse is likely to lead to competition between engineers and content producers trying to stake a claim in the metaverse. This could result in virtual goods, like virtual real estate, the emergence of new cryptocurrencies and items like NFTs (Non-Fungible Tokens) being the main way that people and entities seek to gain value from within the metaverse experience. It is also likely that new brands specialising in the metaverse experience come to the forefront.
The McMetaverse could be coming to a virtual world near you
Metaverse users may soon be able to order a Big Mac and chips virtually and have their food delivered in person after McDonalds applied for a trademark to operate a virtual restaurant. But this already happens to a lesser extend on Uber eats so for many adding Metaverse to a strategy or product is just renaming an existing product or feature
The US fast-food giant has become one of the first fast-food chains to attempt to pair real-life transactions with those that occur in the metaverse. Payment for these could include non-fungible tokens like cryptocurrency. The US fast-food giant has become one of the first fast-food chains to attempt to pair real-life transactions with those that occur in the metaverse. Payment for these could include non-fungible tokens like cryptocurrency.
Are our lives likely to be altered by the metaverse?
It is more likely going to be a more subtle shift in how we live and interact with each other. For those already spending hours a day on social media, watching TikToks or playing games on your mobile or PC, the transition is likely to be easier than for those who aren’t as tech dependent.
Don’t have the Raiz App?
Download it for free in the App store or the Webapp below:
Important Information
If you have read all or any part of our email, website, or communication then you need to know that this is factual information and general advice only. This means it does not consider any person’s particular financial objectives, financial situation, or financial needs. If you are an investor, you should consult a licensed adviser before acting on any information to fully understand the benefits and risk associated with the product. This is your call but that is what you should do.
You may be surprised to learn that RAIZ Invest Australia Limited (ABN 26 604 402 815) (Raiz), an authorised representative AFSL 434776 prepared this information.
We are not allowed, and have not prepared this information to offer financial product advice or a recommendation in relation to any investments or securities. If we did give you personal advice, which we did not, then the use of the Raiz App would be a lot more expensive than the current pricing – sorry but true. You therefore should not rely on this information to make investment decisions, because it was not about you for once, and unfortunately, we cannot advise you on who or what you can rely on – again sorry.
A Product Disclosure Statement (PDS) for Raiz Invest and/or Raiz Invest Super is available on the Raiz Invest website and App. A person must read and consider the PDS before deciding whether, or not, to acquire and/or continue to hold interests in the financial product. We know and ASIC research shows that you probably won’t, but we want you to, and we encourage you to read the PDS so you know exactly what the product does, its risks and costs. If you don’t read the PDS, it’s a bit like flying blind. Probably not a good idea.
The risks and fees for investing are fully set out in the PDS and include the risks that would ordinarily apply to investing. You should note, as illustrated by the global financial crisis of 2008, that sometimes not even professionals in the financial services sector understand the ordinary risks of investing – because by their nature many risks are unknown – but you still need to give it a go and try to understand the risks set out in the PDS.
Any returns shown or implied are not forecasts and are not reliable guides or predictors of future performance. Those of you who cannot afford financial advice may be considering ignoring this statement, but please don’t, it is so true.
Under no circumstance is the information to be used by, or presented to, a person for the purposes of deciding about investing in Raiz Invest or Raiz Invest Super.
This information may be based on assumptions or market conditions which change without notice and have not been independently verified. Basically, this says nothing stays the same for long in financial markets (or even in life for that matter) and we are sorry. We try, but we can’t promise that the information is accurate, or stays accurate.
Any opinions or information expressed are subject to change without notice; that’s just the way we roll.
The bundll and superbundll products are provided by FlexiCards Australia Pty Ltd ABN 31 099 651 877 Australian credit licence number 247415. Bundll, snooze and superbundll are trademarks of Flexirent Capital Pty Ltd, a subsidiary of FlexiGroup Limited. Lots of names, which basically you aren’t allowed to reproduce without their permission and we need to include here.
Mastercard is a registered trademark and the circles design is a trademark of Mastercard International Incorporated.
Home loans are subject to approval from the lending institution and Raiz Home Ownership makes no warranties as to the success of an application until all relevant information has been provided.
Raiz Home Ownership Pty Ltd (ABN 14 645 876 937), an Australian Credit Representative number 528594 under Australian Credit Licence number 387025. Raiz Home Ownership Pty Ltd is 100% owned by Raiz Invest Australia Limited (ABN 26 604 402 815).
