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Snoop Dogg – American rapper who replicated his mansion in The Sandbox. He also has his own NFT collection and performs live concerts in the metaverse as well. A fan paid $450,000 to own digital land next to Snoop Dogg in the metaverse.

Neal Stephenson – The very first author who termed “the metaverse” in his famous 1992 novel “Snow Crash.” In his book 30 years ago he explained that the metaverse is a virtual urban environment that’s accessed with VR headsets. He is now launching a metaverse-focused blockchain project called LAMINA1.

Sara Sampaio – Former Victoria’s Secret model who bought a private island in the Sandbox metaverse for 25 Ethereum (about 71K at the time).

Andrew Yang – Political candidate who campaigned for mayor of New York in the metaverse platform ZEPETO. “I’m a big fan of virtual economies… New York City should be the creative capital of the world, and it’s going to be people like Rudy and folks in the cryptocurrency community that I think are a big part of it.”

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Web 3.0 empowers users individually with machine learning, artificial intelligence, NFTs, VR and AR, and much more. Web 3.0 is a semantic web which processes web content by machines rather than humans. A major advantage with Web 3.0 is that is decentralized meaning that it’s not controlled by a single entity. Instead the individual has sole ownership over the content and assets they create. Additionally, there is better privacy and security when compared with Web 2.0. Distributed ledger technology and encryption ensures trust, transparency, and security in different types of digital asset transactions. 

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Virtual real estate is simply parcels of land bought, sold, and sometimes rented in virtual worlds. Buying these parcels of land allows the owner to essentially do whatever they want on their plot of land. They could open up a virtual business, advertise their Web 2.0 or real life business, or sell their land for a potential profit in the future.

Now how do NFTs play a role in this space exactly? Well NFTs are simply what facilitates these virtual real estate transactions. You see – virtual lands are actually purchased and sold as NFTs. The same way that Bored Ape images are purchased and sold as NFTs, virtual lands are as well. NFTs are what actually facilitates ownership of virtual real estate parcels. Owning the “NFT” of the land is what grants you rights to the land as the owner.

So is virtual real estate the future? Maybe, but maybe not! This will entirely depend on if the same virtual worlds that are active today will also be active five or ten years from now. Right now, it seems that Decentraland, The Sandbox, CryptoVoxels, and Somnium Space are dominating the virtual world industry, but maybe they won’t in ten years! Only time will tell if these are solid investments or not.

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The technology adoption curve is a sociological model that describes how people adopt or accept new products or innovations. Generally, this works on a bell curve. The first initial percentage that adopts new technology are referred to as innovators and early adopters. These are often tech-oriented businesses or tech gurus interested in new innovations. Later on, the early majority and late majority will adopt the technology, this is when the technology is said to have become ‘mainstream’. Later on, the laggards will adopt the remaining technology. Oftentimes, old institutions that are slow to adopt, such as traditional banks, are the laggards.

Being ahead of the technology adoption curve is so important because it allows you to take advantage of innovation earlier and hone in on certain markets before they become ‘saturated’ or closed off. For instance, if you started a YouTube channel back in 2006, it would be much easier to build an audience and become a ‘top influencer’ than if you started a channel in 2022 today. Another example is investing in Bitcoin. It would be much easier to make profit from the cryptocurrency investment if you invested in 2009 rather than 2022.

Like the saying goes, the best time to plant a tree is 10 years ago. The 2nd best time to plant a tree is today. Getting in early on emerging technologies will allow you more time to grow your platform or make the most out of an investment.

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Ian also covered a brand new technology: AI influencers. Ian discussed what they are, what they are useful for, and how companies employ them to promote their brand.

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