Do you remember astonishing sci-fi novels by Isaac Asimov or the Strugatsky brothers dedicated to fictional worlds, teleportation, virtual neighborhoods and cities? We all enthusiastically read one book after another in our childhood, and today we see a real restructuring of the world.
Disclaimer: This text was contributed by Marina Trofimova, CMO Tiger.Trade. The views, thoughts, and opinions expressed in the article are the author's own and do not reflect the opinion of the editorial.
Large banking and technology corporations are actively integrating their services into the metaworlds, and insurance companies are ready to insure your virtual avatar for millions of dollars, and if he dies in the metaverse, the user will receive serious money.
Facebook is about to launch 10 virtual universities for students from all over the world, and leading world known brands are selling NFT bags and jewelry for more than “real” ones. Yes, this is definitely the new reality. Metaworlds will affect absolutely all spheres of our life. And trading is no exception.
Speaking about how virtualization will affect this area, then I’d highlight a few key trends.
- Trades in virtual land. Yes, that’s absolutely real. Decades ago, traders traded exclusively in commodities or stocks. Lanter cryptocurrencies and cryptocurrency derivatives were added to trading tools. NFTs and digitized company stocks came later. And today we see a new era — trade in virtual lands. I’m pretty sure that we’ll see the launch of new exchanges that will offer trading in land tokens in the metaworlds and derivatives on them already in the near future. It’s already happening. For example, the MetaDAO startup plans to unite all landholders in the metauniverses of Decentraland, Sandbox and others and issue its own token, which will be backed by the value of land in these metaworlds. And then it is planned to launch futures for this token. Isn't it fantastic? But that’s just a new reality.
- Creation of virtual trading terminals and popularization of avatars. Most professional traders try to work incognito and don’t reveal their names. The creation of trading terminals in the metaverses can possibly solve this issue, because every trader can create a nickname and choose an avatar: whether it’s a dinosaur, a Minecraft hero or a Barbie doll. The government is concerned about this issue, because it can increase the number of cases of fraud. On Friday, September 16, the Commissioner of the European Commission said that united Europe is ready to control legal relations in the metaverses and do everything to stop the attempts of fraudsters to steal users' money. The first step here is the mandatory KYC procedure. By the way, we are in Tiger. Trade Copy pays a lot of attention to safety, so we conduct a careful review of traders and set a risk rating.
- Metaverse tokens will be traded in the same way as cryptocurrencies. You can already see how this trend appears in the market. Metaverse tokens are becoming a full-fledged exchange tool. And here we are not talking about land tokens, but about utility tokens that are used for internal mutual settlements. Traders can buy and sell tokens like ordinary crypto coins on crypto exchanges, or they can use avatars that live in the metaverses to upgrade, for example, buy trendy clothes and accessories. The more upgraded the avatar, the more expensive its price in the market. Obviously, the next step can be the trading of avatars on stock exchanges, as well as the purchase and sale of virtual buildings, neighborhoods and even entire cities.
The development of metaworlds is changing our understanding of reality, traditional investments and trading. I can say, we all are experiencing the emergence of a new reality, the creation of new virtual assets and new trading rules right now. While not everyone is ready to abandon the usual stock trading on the stock exchange or copying transactions in trading applications, however, we live in an era of global change. And we can either deny it, or accept it as inevitable, which will definitely change business, education and our life overall!