Ten years from now, the metaverse could be a $30 trillion industry
Because it is essentially an expanded internet, it’s an easy metaphor to use to describe the metaverse. Allows users to interact with their surroundings and others in a 3D virtual world. Moreover, there is the potential to create an entirely new digital ecosystem within the metaverse.
Estimates of the metaverse’s market value vary widely because no one knows what the full scope of the metaverse will entail. Investing bank Morgan Stanley estimates that the metaverse market in China could grow to $8 trillion by 2025. Analysts expect the metaverse to replace the mobile internet, citing a more “immersive experience” in a research note. Epyllion’s CEO, Matthew Ball, has even greater goals for the company. There is a $10 trillion to $30 trillion market within 10 to 15 years, Ball said in an interview with Bloomberg News last November.
There are numerous ways to invest in the metaverse, both directly and indirectly, due to the metaverse’s many working parts. The cryptocurrency market is one of the most popular investment destinations. It appears that the Shiba Inu-breed dog’s right eye is focusing on something. When it comes to the metaverse, SHIBA INU intends to leave its mark. All images are copyrighted and belong to their respective owners.
As it pertains to cryptocurrency, a new metaverse player has emerged.
In spite of the inherent dangers of digital currencies, the early metaverse players have produced astonishing profits.
Crypto:SAND and Crypto:MANA are the two leading pure-play metaverse cryptocurrencies. Both of these virtual worlds are built on the Ethereum network and use blockchain technology. The Sandbox and Decentraland both allow users to purchase non-fungible tokens that represent digital land plots (NFTs). A digital asset stored on blockchain can only be proven to have a legitimate owner with the help of an NFT.
As an alternative, players can play Axie Infinity (CRYPTO:AXS), a game in which they must have at least three Axies before they can engage in combat. Users can buy and sell Axie NFTs in the game or on a marketplace. There’s a big difference between blockchain gaming and traditional gaming when it comes to ownership of in-game creations.
Shiba Inu is a newcomer to the cryptocurrency market in the metaverse:
Last week, the developers behind the meme coin, which is expected to gain 46,000,000% in 2021, announced “Lands” and a queue system on Twitter. Shiba Lands (virtual lands in Shiba Inu’s metaverse) will be available for purchase or auction using the Doge Killer (LEASH) token, according to a tweet and a blog post linked to it.
ShibaSwap is a decentralised exchange for Shiba Inu ecosystems that uses LEASH as its native token. LEASH has a circulating supply of less than 108,000 tokens, compared to SHIB’s 1 quadrillion circulating supply (which is now in the neighbourhood of 549 trillion circulating tokens).
The developers of Shiba Inu are working on a queue system that will prioritise players based on the amount of LEASH they currently possess when it comes time to purchase Shiba Lands. Developers can protect themselves from land grabs and virtual land-swaps by small investors by using this strategy.
However, despite the metaverse’s recent popularity, investors should keep in mind that not all digital currencies or ancillary players will prosper in the long run. Shiba Inu, the most popular cryptocurrency in the world, is a prime example of a crypto that investors in the metaverse should stay away from at all costs.
Starting from the beginning, Shiba Inu can’t launch a metaverse or sell its Shiba Lands unless it has its layer-two blockchain, Shibarium, in place. ERC-20 token Shiba Inu is built on the Ethereum blockchain, so it is subject to the same lags and high transaction fees that plague the Ethereum network. Shibarium’s primary goal is to reduce transaction costs for SHIB-based transactions. Despite the fact that Shibarium is currently being tested privately, no date has been set for an official public launch.
The Oshiverse, Shiba Inu’s blockchain-based Oshiverse, is unlikely to launch until 2023 even if the Shibarium upgrade goes without a hitch (likely early 2023). A full year has been granted to The Sandbox and Decentraland for the purpose of generating virtual revenue and allowing users to complete their virtual land development projects. If Shiba Inu is to succeed in the metaverse, it will have to compete with other projects that have a head start.
Aside from Shiba Inu’s metaverse aspirations, investors should be wary of the lack of a competitive edge that the company possesses. CoinMarketCap.com lists over 17,000 cryptocurrencies, so projects will need to stand out in order to be successful. Right now, SHIB is merely a means of making payments — and a bad one, at that. Fewer than 620 merchants around the world accept it as a payment method.
Investors should be wary of historical precedent as another reason to stay away. If you’ve made a lot of money in the short term, you’re going to see a 93 to 99 percent retracement in the first 12 to 26 months after the peak of your coin’s value. Shiba Inu’s price surged by 121,000,000% in less than ten months last year, so a massive reversion is expected.