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The Metaverse emerges from science fiction as the Facebook CEO announces his vision for the social media giant’s future. The concept of the metaverse isn’t new — it’s been around since the ’90s, and it suggests a virtual world.

However, the Metaverse development company is not just any fictional word, but revolves around the social connections and interactions between people. The metaverse can be anything from video games to virtual and augmented reality. Does it help the tourism industry in any way?

Let’s take a look at the pros and cons of the Metaverse in tourism and some of the most notable examples.

Metaverse and Travel

While people have always been eager to travel, the COVID-19 pandemic has shown us that the travel industry may be the most vulnerable to travel restrictions and social distancing. It has enabled organizations in the travel sector to recognize the value of technology during trying times, thereby increasing its adoption rate.

This is where the Metaverse fits in perfectly. Metaverse is a set of technologies that create virtual worlds, immersive experiences and ease of use that help travelers and travel organizations achieve their goals. And what better way to discover these goals than by delving into the pros and cons of the travel metaverse.

Pros and Cons

When we talk about a brand new concept in tourism, we have several obvious pros and cons that come to mind.

Advantages of the Tourism Metaverse

Metaverse’s strength in the travel industry comes from its ability to enhance the shopping experience before, after and during a trip.

For example, the Metaverse can play an important role in taking the booking experience to another level. Online travel agencies and hotels don’t have much choice in providing information to travelers. They can provide descriptions, images and videos. With Metaverse, they can provide travelers and guests with an immersive experience.

Travel agencies can give potential clients a taste of where they want to go, while hotels can provide an authentic tour of their properties, showing potential clients what awaits them if they choose them over other hotels.

Metaverse can also facilitate travelers’ purchasing decisions. Travelers can use it to explore destinations as if they were there themselves. They can even take part in tours to discover how long it takes to get to a destination, or to find the most exciting route from one attraction to another.

Perhaps the most valuable virtue of the Metaverse is its ability to increase pre-orders. Whether potential guests use augmented or virtual reality to explore hotels, destinations and travel options, chances are they’ll be excited and motivated to book a trip or hotel stay. As a result, OTA and hotel bookings will increase significantly.

Downsides of the Travel Metaverse

The only downside of the Metaverse in tourism is that it’s no substitute for an authentic travel experience. The Metaverse is limited to visual and audio cues.

While this is still the best way to let potential customers know about an offer, there are many things that cannot be communicated through the metaverse — the unique feel of the air in the destination, the smell of the food, the warmth of being basked in the sun, etc.

An Example of Tourism in the Metaverse

Here are some examples of tourism in the Metaverse so you can understand its benefits and potential to change the industry forever.

Step back in time with ease — The Metaverse can offer travelers a whole new experience; step back in time and explore the world’s most famous destinations. Imagine being able to explore Machu Picchu with the local Incas or vines during the construction of the Great Pyramid of Giza?

Smart Destination Shopping — Metaverse can provide potential customers with shopping decisions through VR. You can have your prospects walk the streets of a city, take a hotel tour, or even experience a trip to a destination.

Facilitating accessibility of online events — Metaverse can also help the tourism industry attract more people to online trade shows and expos. The best part is that it enables real-time social interaction so that visitors can interact with exhibitors, ask questions and view brochures, all in real time.

Simplified Guided Tours — Augmented reality is a big thing in the Metaverse. Travelers can use AR to learn any details about their destination of interest. In fact, AR can act as an on-demand tour guide, thereby facilitating booking decisions.

What is the Metaverse?

Overview of the Metaverse

Metaverse is a 3D virtual space created on the Internet .

The word Metaverse , which means “another universe or another world,” was created by combining two words, meta , which means “to exceed,” and universe, which means “ universe.”

It may be difficult to get an image from just the meaning of the word, but for example, Nintendo’s popular game “Animal Crossing: New Horizons”, in which “you” live in a village where unique animals live, or the world’s number one game . Games such as “Minecraft” , a monster game played by over 40 million people , are also a kind of Metaverse development in the sense of a 3D virtual space.

Metaverse already existed as a concept through consumer games, but recent improvements in VR/AR technology have led to the creation of “virtual spaces that are closer to reality (higher reality).”

By improving the quality of the virtual space and linking with various new technologies that will be introduced later, the Metaverse will go beyond the category of a simple game and play an important role in Web 3.0 (the next generation decentralized internet). Become.

Why the Metaverse is getting attention

In recent years, the word “metaverse” has been used more often not only on social media but also on TV news. Among them, on October 28, 2021, Facebook, which is familiar to many people, changed its company name to “Meta” , which became a big topic and became one of the triggers to attract attention to “Metaverse”.

What is Web3.0?

Web 1.0 (Homepage era)

The Web 1.0 era was a time when search engines such as Yahoo!, Google, and MSN Search began to appear, and the web was still a one-way street. Web designer Darci DiNucci used the terms Web 1.0 and Web 2.0 in 1999 to distinguish between stages of evolution.

Websites were created using static HTML pages in the early 1990s, and the culture of individuals having their own “homepages” to disseminate information was born from this era. However, the Internet connection speed was also very slow and it took a long time to display even one image.

In addition, since the information that can be viewed is managed only by the information creator, the viewing user cannot edit the data. Because of these characteristics, web 1.0 is also called the “unidirectional era.”

Web2.0 (SNS era)

In the Web 2.0 era, SNS such as YouTube, Twitter, and Instagram appeared, and everyone became a sender. While the Web 1.0 era was called the “one-way era,” the Web 2.0 era has made it possible to exchange information in both directions with various people .

It was also an era when platform services called GAFA, such as Google, Amazon, Facebook (formerly Meta), and Apple, made great strides and became giant tech companies.

On the other hand, the possibility of infringement of personal privacy due to the concentration of personal information in specific companies such as GAFA is being viewed as a problem. This is because the information collected by some large companies includes not only basic personal information such as address, age, and gender, but also personal preferences and behavior history, which are available for use.

It has also been pointed out that centralized information management is susceptible to cyberattacks and may affect many users. In fact, in 2018, the major SNS “Facebook”, which is a corner of GAFA, leaked the user information of more than 50 million people to the outside.

Web 3.0 (Distributed Internet era)

As mentioned at the beginning, Web 3.0 refers to the “next generation distributed Internet” . In addition, from the current situation where personal information is concentrated in GAFA and other giant tech companies, by using next-generation technology to manage information in a distributed manner, it is possible to create a new form of information management that does not concentrate information on giant companies . What is expected is the concept of Web 3.0.

Relationship between Web3.0 and Metaverse

The Metaverse is a “receptacle” for Web 3.0

The Metaverse is, so to speak, a “receptacle” for the various technological innovations that make up Web 3.0 , the “next-generation distributed Internet .”

Web 3.0 is built on the underlying technology of blockchain , and virtual currency literally plays the role of “money” in Web 3.0

And real-world “financial services” will be replaced by DeFi (decentralized finance) in Web3.0 , and NFTs (non-fungible tokens) will clarify the “ownership” of digital assets in Web3.0 . Also, in Web 3.0 , it is expected that the conventional “company organization” will take the form of DAO (Distributed Autonomous Organization) .

The “3D virtual space (receptacle)” that encompasses all of these is exactly the Metaverse .

By linking with various technologies called Web 3.0, the Metaverse will not only be a “3D virtual space created on the Internet”, but also “play, work, trade, and do things just like in the real world.” It has great potential to become a “ virtual world that you can create and interact with” .

Current Issues of the Metaverse in Web3.0

Strengthening hardware

In order to spread the use of the Metaverse in Web 3.0, it is essential to strengthen the hardware side. Specifically, we want to reduce the size and weight of the VR equipment and improve the rendering specs .

Spending more time in virtual worlds requires more immersive, natural and expressive VR equipment . There is still room for improvement in terms of weight and size in order to continue wearing the current VR equipment for several hours. In addition, it can be expected that there will be even higher levels of demand for device specifications that enable faster communication and high-definition virtual worlds.

Meta (former Facebook), which changed its name in October 2021, invests a large amount of money in the field in which the company’s future is at stake. You can see it.

Enrichment of attractive contents

For the spread of the Metaverse, not the evolution of hardware, but the software side, that is, the enhancement of content, is essential. And Japan has the potential to make great strides in this area. This is because Japan is one of the world’s leading “content powerhouses . “

There are many creators in Japan who can create interesting content such as manga, anime, and games , and there is also a culture of respect for creators . In addition, our strength is that we own the rights to world-famous and highly rated works such as Dragon Ball, One Piece, Final Fantasy, and Mario.

Japan is the only country in the world that has all the human resources, culture, and rights to create excellent content .

Summary

In this article, we have provided an overview of Web3.0 (the next-generation distributed Internet) and the Metaverse development company (virtual reality) , and explained the relationship between the two.

What is real estate in Metaverse?

Several pieces of virtual property are considered real estate in the Metaverse. These are essentially pixels, but they function more immersively and not only as digital images. In the Metaverse, real estate properties are programmable locations where users may connect to purchase, sell, or rent their virtual properties using cryptocurrency or metaverse tokens. Before all the land pieces are acquired, early investors are swiftly acquiring the biggest Metaverse real estate properties.

Unique non-fungible tokens that are used to safeguard digital real estate in the Metaverse (NFTs). To acquire a piece of virtual estate, every transaction is safely recorded on the blockchain, and all NFTs are sent to the participant’s digital wallet where they store their cryptocurrency. Real estate trade in the physical world and internet real estate trading are very comparable processes. Each piece of real estate comes with a title that is safely registered in a registry, as well as an ownership copy that serves as documentation of the owner’s control over the property.

Every real estate Metaverse has its own native currency, which aids users in making the exchange of digital assets easier. Users are able to pay market rates for lands and other assets. Because to the native token’s significant volatility, the price of digital land might change. A digital plot of land on the platform map is represented by the NFT “Land” within the Metaverse platform.

Tokenized land parcels may be purchased by gamers or platform users to build various experiences on top of it. They may develop a variety of games on the Metaverse land if they acquire it. They may also combine their numerous land pieces to create an estate, which is a collection of interconnected territories in the Metaverse. With the aid of the linked combination of Metaverse land parcels, users may create bigger and more immersive land holdings.

Now let’s look at how gamers and investors might benefit from this Metaverse real estate.

How is the digital land in Metaverse useful?

On their plot of virtual real estate, metaverse landowners can erect a variety of structures and interactive games. These in-game structures, constructions, and other land developments resemble the actual world quite a bit. Once a Metaverse player has taken control of a piece of land, they have the power to create any kind of gaming environment and make it accessible to other players. The landowner, for instance, has the option of charging participants or creating a game that is free.

Also, the landowner can develop a museum to house all of their NFTs or build billboards to advertise on. As players and users will want to visit all the many locations inside the Metaverse, they must all design these experiences taking location into consideration. Owners of lands in the metaverse can rent out their properties to other people so they can create games, conduct events, and engage in social activities. These advantages are equivalent to those of actual land estates and properties.

What are some of the avenues for real estate investors in Metaverse?

Digital plots of land and metaverse real estate have a lot of promise for NFT trade. This is how Metaverse development company helps by giving users a unique and lucrative method to engage in virtual reality. In the Metaverse, people can now buy a piece of property and generate regular rental income from it, removing the geographic restriction that once prevented the sale of real estate. By tokenizing lands into NFTs, the metaverse has radically changed real estate and properties. These are some of the basic options available to real estate investors in Metaverse:

Digital storefronts

There are digital stores for well-known companies and business locations that have Metaverse incorporated into their system. Participants can browse the virtual stack of different NFTs displayed on the Metaverse marketplace by entering these stores, which connect to the Metaverse. Thereafter, customers and participants may choose whatever they want to buy and click on the digital good to pay using their preferred payment method. The payment method is already set up in the system of the Metaverse.

Metaverse gaming

By offering limitless games after logging into the site, Metaverse strengthens the legitimacy of decentralised gaming. It offers a vast gaming environment with many cutting-edge choices where users may even construct buildings and other in-game goods. Thereafter, these inventions are kept in special NFTs and generate a lot of money. The P2E paradigm, which stands for play to earn real money, is integrated into this type of gaming and in-game developments.

Entertainment

The metaverse has a significant influence on the entertainment business since it links diverse talent centres with their individual audiences, allowing for an immersive viewing experience. People will choose to view movies and attend concerts in the Metaverse in the recent and near future. They’ll want to take use of virtual theme parks and movie theatres for entertainment. These property parcels in the Metaverse that include theatres and parks are also available for purchase.

Let’s learn how to buy property in Metaverse now that we’ve looked at some of the main real estate options available.

How to purchase real estate in Metaverse?

In the Metaverse, purchasing real estate digitally works the same way it does with NFTs. It needs a person’s individual land NFT ownership deed and is a special code that tokenizes the property’s true face value on the blockchain. This NFT ownership document attests to the owner’s creativity and control over the digital asset.

Start with a personal digital cryptocurrency wallet and your Metaverse real estate portfolio. Several Metaverse systems regulate transactions using certain currencies. When registering for a new cryptocurrency wallet, find out which currencies are supported by the platform. After choosing a wallet, go the Metaverse portal and register for an account there. The participant may then buy, sell, and land on Metaverse by connecting their cryptocurrency wallet to the platform. After you’ve decided on a wallet and a platform, select a piece of land and pay for it on that platform.

The choice of land parcels is now one of the key aspects of Metaverse real estate. Similar to the real estate industry, location is a crucial factor in choosing a land piece. If one is considering investing in or buying metaverse real estate, they should always search for locations that show off their enormous potential for growth. These are the undeveloped areas of the Metaverse platform where network users may effectively pool their creative talents and create dynamic assets with distinctive characteristics.

The Metaverse real estate investors prize plots and pieces of property that are close to established regions yet outside of them. Participants can build innovative properties on these parcels, which are simply and affordably available for purchase. Depending on the distinctive qualities of their developments on the land parcels, they can then wait for an increase in land values. Decentraland and Sandbox are two of the most well-known instances of estate Metaverse where individuals may invest in virtual lands. With the support of their respective tokens, MANA and SAND, these platforms provide users a highly realistic environment for real estate commerce and enable them to employ P2E models to buy land parcels, play games, and make in-game goods on the Metaverse.

Endnote

Recent years have seen tremendous technological change in the real estate sector. Technology advancements are positioned to change the real estate sector as virtual land transactions gain pace. The Metaverse is now more popular than ever because to the quick adoption of technology, and real estate there is the hottest new thing!

The concept of metaverse is to create the second “virtual parallel time and space” in the human world through immersive technology. People can work, socialize and entertain through virtual identities. It seems far away from us, but in fact, existing technology and investment in life There have been many initial applications in Metaverse Development Company. The following “ Internet Thermometer “ sorts out the top ten hot topics to see what the first wave of participants are discussing?

No.10 Virtual Idol, VTuber

Metaverse fills people’s imagination, not only economics and social interaction, but also the entertainment industry may also have new forms, such as virtual idols and virtual YouTubers (VTuber), which are becoming more and more popular, are considered to be a new trend. Whether it’s the real-life Korean girl group aespa launching virtual characters, or Japan’s VTuber industry sweeping the world, you can see that the entertainment industry is going virtual everywhere. With more sophisticated technology and team operations, the market acceptance has become higher. Will it be possible in the future? There is a place in the universe that is highly anticipated.

No.9 Memory block chain technology

If you want to understand what the metaverse is, you must first understand the memory block chain technology. The biggest feature of the memory block chain is “decentralization” . Or, the anti-tampering technology has now been applied to virtual currency and NFT. In the future, how human beings will transfer their identities and assets to another virtual parallel world, the memory block chain is regarded as a major basic project of the Metaverse.

No.8 Virtual Currency

Before Facebook raised the metaverse issue, there was already a wave of global virtual currency enthusiasm. First, Bitcoin reached a new high in the past years, and then Tesla CEO Musk continued to support this type of cryptocurrency through Twitter, announcing that he would use SpaceX put “Dogecoin” on the moon, and it really increased the value of the currency.

Soon after, the topic of the Metaverse Development Services became hotter, and everyone was more optimistic that virtual currency would be the first ticket to enter the metaverse, which once again drove the market volume of the currency circle , hoping to see a more stable economic ecology of cryptocurrencies in the metaverse.

Inventory of the 10 most popular topics in the Metaverse! no.1 is neither NFT nor Metaverse

No.7 AI artificial intelligence

In the process of technological progress, AI plays an important role. This technology realizes “human intelligence” through computer programs, which can be seen everywhere in our lives. From facial recognition, robots, voice assistants, etc., this kind of technology must be “meta “Universe” , in the future, people must combine devices with AI and other technologies to truly live in another virtual universe. This has also attracted more and more technology companies to focus on the development of AI.

No.6 NFT

Recently, NFT non-homogeneous tokens, a new term for super-tamping technology, use the memory block chain technology to trade digital image files, music, and videos through NFT , so that buyers “own the right to register”. The art circle became popular, and then singer Huang Mingzhi and salted crispy chicken merchants put their songs and products on the shelves, attracting a large number of buyers to bid. Although the concept of this transaction is novel, it has also received attention again as the topic of the metaverse rises.

Inventory of the 10 most popular topics in the Metaverse! no.1 is neither NFT nor Metaverse

No.5 5G technology

The core concept of Metaverse is to allow people to live in another parallel virtual world, so 5G technology for faster mobile communication has become a hot topic. Although 5G technology has been launched for one year, the number of users is still low, but Metaverse Development solution Creating an infinite future for 5G is regarded as an important infrastructure for development. Not only telecom operators have announced that they will invest large sums of money in researching business opportunities, but related emerging companies are also favored, and the topic is hot again.

No.4 Semiconductor Technology

Semiconductors are component materials for information processing. Taiwan has solid manufacturing technology and plays an important role in the global market. Whether it is mobile phones, computers or earphones, semiconductors are the basic raw materials for 3C products. As the topic of the metaverse rages on, semiconductors are also viewed favorably. They are the foundation of all constructions of the metaverse . In addition to rising voices, they also continue to gain momentum in the stock market, which is expected to make overall profits. A lot of voices also come from investment-related discussions.

No.3 large-scale online game e-sports

Thinking of metaverse applications, most people’s first impression is “entertainment games”, which transfer virtual identities to another space to break through levels, race cars, etc. Therefore, after the topic of metaverse broke out, “sand games” featuring large maps, high freedom and player interaction features Box games” became the focus. For example, “Minecraft” (Minecraft) can build its own house and hold a virtual ceremony. In addition, “Roblox” (Roblox) also seized this trend and released virtual currency, and users can hold virtual concerts in it. , and cooperated with many brands of clothing , so that virtual characters can also enjoy the fun of dressing up, and the revenue has exploded.

No.2 metaverse concept stock/ETF

Facebook brought up the topic of the Metaverse, which aroused high attention from global investors. They believed that this unknown field was full of business opportunities. Investing in Metaverse concept stocks and ETFs became the most direct and fast way for the public to participate in the Metaverse , creating a lot of discussions. Following the shipping boom, Taiwan stocks were taken over by the “concept stocks” of Metaverse. Many investors who did not become One Piece followed suit, and related stock prices also soared. “ETF” also performed well. American investment company Roundhill After Investments released the world’s first Metaverse ETF , the stock price soared 8 times in three months. Taiwan stocks have also caught up with the upsurge. Recently, Fubon Investment Trust also launched the Fubon Metaverse ETF . Through the screening of the Solactive Metaverse Token Development Company Index, it can truly participate in 30 stocks such as Metaverse infrastructure, AR/VR, etc., and provide diversified and relatively stable targets for investment. people choose.

NO.1 AR/VR Technology

To allow people to swim in the virtual world in the metaverse, “immersive” experience is a very important part . It is no longer just typing through the keyboard or mobile phone, but to allow people to experience the metaverse. AR, VR technology, whether it is AR augmented reality or VR virtual reality, through devices and technology, this kind of technology allows people to enter the 3D virtual scene no longer have a sense of distance , instead it is full of novel experiences.