Trillion dollar opportunity in building metaverse

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We can’t really discuss building a metaverse without addressing the trillion dollar opportunity that exists in doing so.

The Internet as we know it consists of a limited number of centralized platforms that control the majority of traffic and user data. These platforms are designed around maximizing advertising revenue, which puts them in constant conflict with users, who are seen as commodities to be sold.

Of course, as we’ve already discussed, the metaverse has presented itself with the help of platforms like Meta – as a unique solution to the problem of scarcity of space on the Internet. However, while this is a great start, it is only a fraction of what is possible.

The metaverse has the potential to become a trillion dollar industry because it solves the problem of scarcity in a way no other technology has before. In this article, we’ll take a closer look at the huge economic opportunities that exist in building the metaverse.

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Today’s Internet: What is the problem with scarcity?

To understand the opportunity that exists in building a metaverse, it is necessary to first understand the problem of scarcity. It is better to explain this with a simple example. Let’s say you have a product that you want to sell online. To do this, you need to find a place to list your product.

The most obvious place to list your product will be on Amazon. However, listing requires creating an account and paying a listing fee. It may not be immediately clear what is wrong with this process. After all, if you want your product listed on Amazon, shouldn’t you have to pay?

The problem with this system is that it creates a barrier to entry for new businesses and entrepreneurs. To list many products on Amazon, you must have money.

This may not seem like a big problem, but it actually has a very negative impact on the economy. When there are barriers to entry for new businesses, they stifle innovation and entrepreneurship. This is because the only companies that can list their products on Amazon are those that actually have funds.

This system also generates a lot of waste. Let’s say you have a product you want to sell, but you can’t list it on Amazon because you can’t afford the listing fee. So instead, you list your product on eBay. However, many potential customers don’t think to look for your product on eBay because they don’t think to look there.

As a result, your product never sells and you end up wasting a lot of time and money. This is just one example of how the current system generates waste.

The problem of scarcity and the metaverse

Metaverse has the potential to solve the problem of scarcity in a very basic way. It is a decentralized platform that is not controlled by a single company or organization.

This means there are no barriers to entry and anyone can build anything they want. People who would otherwise have the opportunity can benefit. This includes artists, musicians, freelancers, and other creatives who can share their work with a much wider audience. This is a very different model than what we have today, where some centralized platform controls the majority of user data and traffic.

The metaverse is also designed to be efficient. This means there is no wasted space and everything is designed for use. This is in stark contrast to the current internet, which is full of unused or underutilized space. Finally, the metaverse is designed to be accessible to everyone. Anyone in the world can build something inside of it.

The combination of these three factors—no barriers to entry, efficiency, and accessibility—makes the metaverse the perfect solution to the scarcity problem.

The opportunity to build a metaverse is vast. The potential market size is in the trillions of dollars and the opportunities are endless. Some of the main reasons include:

  • metaverse solves the problem of scarcity in a way no other technology has done before. This is a fundamental shift that will have an enormous impact on the economy.
  • The metaverse is still in its early stages of development. This means there is ample opportunity for early movers to get involved and build something big.
  • Metaverse has the potential to become a platform for the next generation of the Internet. This will be a huge shift in how the internet is used and will create a whole new set of opportunities.

The current Internet is used by billions of people around the world. It accounts for 3.4% of the economies of large countries which make up 70% of the world’s GDP.

Metaverse has the potential to be much larger than that. It could become a platform for the next generation of the Internet and it could have a global economy of $30 trillion or more. This growth will come from new apps and experiences being built on top of the metaverse.

Some of the most important metaverse applications would be:

  • E-commerce: The metaverse will enable businesses to sell products and services in a virtual environment. This will allow companies to reach the global market and create new types of experiences for their customers.
  • Entertainment: Metaverse will provide a new platform for entertainment experiences. This can include movies, games, and other types of content that can be experienced in a virtual environment.
  • Social networking: the metaverse will enable people to communicate with each other in a virtual environment. This could lead to the development of new social networks and create new ways for people to interact with each other.
  • Education: The metaverse will provide a new platform for education and training. This can include courses, seminars, and other types of educational content that can be experienced in a virtual environment.

This is a trillion dollar opportunity and it’s still early days. Now is the time to get involved and build something big.

Daniel Saito is the CEO and Co-Founder of StrongNode.

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