Wikipedia describes the “metaverse” as an imaginary and immersive world that is accessed using either virtual reality (VR) or augmented reality (AR) headsets.
It is further described as a social network comprised of three-dimensional virtual worlds.
The metaverse has been featured in science fiction since the early 1990s and, during its early incarnation, was focused primarily on video gaming worlds such as Second Life, Minecraft, and, more recently, Fortnite.
The more recent expansion of the metaverse has included social interaction, entertainment venues such as sports and music, and more recently, commercial ventures and real estate.
As the metaverse continues to evolve and expand, entrepreneurs are creating virtual destinations and locations that can be bought and sold just like physical real estate.
But unlike actual tracts of land that may depend largely on location to drive the price, metaverse property’s value is tied more to the use of that virtual location and the perceived traffic that is expected.
The concept has already gained traction and prices continue to rise; over $500 million was spent on virtual property in 2021 and that is projected to reach $1 billion this year with over a dozen platforms involved in the transactions.
Justin Halladay’s company is created five different games that are targeted at the metaverse where players can visit the virtual locations and compete in 3-D worlds for real prizes.
He has combined the competitive nature of gaming with the new and exciting world of cryptocurrency so players can vie for crypto coins, tokens, or NFTs that can be used to purchase virtual prizes or actual merchandise in metaverse stores.
Justin Halladay’s team is especially excited about one game called Crypto Casino.
He says “We’re building a casino that you’ll be able to engage with in Minecraft.
If you like going to the casino, you’ll be able to play the slots and blackjack and roulette to win tokens.”
As technology continues to advance and virtual reality becomes more immersive and more affordable, expansion and acceptance of the metaverse will only be limited by the imagination of investors and entrepreneurs like Justin Halladay.
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Learn more about Justin: http://www.justinjhalladay.com/