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Could today’s cryptocurrency investors become the masters of the metaverse?

Cryptocurrency investors of today are likely to dominate the metaverse, dubbed the web 3.0, which has the potential to change how we live, interact and do business.

By LLM Reporters  |  November 30, 2021
Travel the virtual world with metaverse. man face blue background vector illustration

Cryptocurrency investment has officially gone mainstream, with amateurs of all generations entranced by the dramatic upward surge of Bitcoin, Ethereum and the like over the past year and eager to ride its wave. And with more millennials Gen Y-ers and Gen Z-ers dipping their toes into the water of trading, we’re seeing an emerging generation of youthful investors who could be set to shape the future.

The cryptocurrency market, which is notorious for its volatility, has seen many professionals hold fire on taking the plunge since the advent of Bitcoin – the first of its kind, which launched back in 2009, made nervous by this new and somewhat difficult to grasp type of technology. But younger investors, it seems, have no such fear, and were not only some of the earliest adopters, but are continuing to jump on board in record numbers.

Thanks to the advent of a flurry of new trading platforms like ethereum-trader.app, which make it quick and easy to get started, and a plethora of automated signalling software designed to show even complete novices how to make the right moves, these days, you don’t need to be a seasoned pro to get involved – and this year, the numbers of new young investors has reached an all-time high.

Nigel Green, CEO and founder of leading financial advisory, asset management and fintech company the DeVere Group, believes that the young cryptocurrency investors of today are, in fact, set to be the ‘masters of the metaverse’ – a virtual parallel to physical reality, where a community of people can interact in the form of avatars.

It might all sound a little sci-fi, but this futuristic concept, which refers to the merging of physical, augmented and virtual reality in a shared online environment, could be set to transform the way we live, interact and do business sooner than we think. Not convinced it will catch on? Then take a second to think back to the early days of crypto, where many believed Bitcoin to be little more than a passing fad.

Meta logo is shown on a device screen
Facebook has just announced plans to hire 10,000 people within the European Union in order to develop this so-called metaverse. Image credit: World Image/Bigstock.com

Just recently, Facebook announced plans to hire 10,000 people within the European Union in order to develop this so-called metaverse – and while it might feel difficult to envision right now, in just a few years, it could be part of life.

This hypothesized version of the internet, which will support online 3D environments through both traditional personal computing and virtual and augmented reality headsets, is already present on some platforms – take VRChat, or video games like Second Life, for example.

And according to Green, the metaverse has the potential to help unlock access to new creative, social and economic opportunities.

He says: “Facebook’s announcement once again underscores that the metaverse is not being seen by those-in-the-know as an ‘extension’ of the internet, but as its successor.

“It will become the entrance to almost all digital experiences and an integral part of most physical ones, meaning it will fundamentally change the way we live, interact with each other and do business.

“It will revolutionise economies, it will be the key to the creation of whole new generations of companies, and this is why the big tech firms are jumping in – no one wants to be left behind something so monumental.”

It all sounds very exciting – but where exactly do crypto investors come in – and why could they be set to become such an important piece of the puzzle?

As it happens, the metaverse is due to be built and run on blockchains and decentralised applications – the same cutting-edge technology that cryptocurrencies like Bitcoin, Ethereum and the like also utilise.

bitcoin
Cryptocurrencies such as Bitcoin are likely to become the sole legal tender accepted in the metaverse

“In the virtual worlds which will reshape how we spend our time and our money, financial transactions will, of course, have to be digital,” says Green.

“This means that cryptocurrencies are likely to become the sole legal tender accepted in the metaverse.

“All of this is a huge advantage to anyone investing in crypto today. Prices of major cryptocurrencies are likely to soar enormously in the next few years. As such, those buying now will be taking advantage of the lower entry points.

“Their purchasing power within the digital space can be expected to be huge as a result: they will be the ones who are the Masters of the Metaverse.”

So, when exactly can we see the dream of the metaverse fully realised? Likely not for some while. In fact, it could take up to a decade for the vision to be brought to fruition. But as the world of cryptocurrency has shown, early adopters of new technology are often the first to benefit, and those who are quick to embrace this brave new world could reap some substantial rewards for doing so.

Just ask Facebook’s Mark Zuckerberg, or those early Bitcoin investors who saw themselves become overnight millionaires when its value dramatically surged.