Chris’ note: Today, we continue our end-of-year series on Legacy Research’s best insights on the metaverse – a new kind of internet you step into.
Still skeptical about this emerging megatrend?
That’s why we’re sharing an essay from colleague and world-renowned crypto investing expert Teeka Tiwari. He says the metaverse will cause the adoption of NFTs to explode. Because they’ll be woven into the virtual economies that take shape there.
But as he reveals below, he didn’t always recognize the potential of either trend…
I made a big mistake…
In February, I started researching NFTs (non-fungible tokens). If you’re not familiar with them, they’re digital tokens that verify ownership and authenticity of various digital assets such as art, trading cards, and music.
At that time, though, I saw no real use case for them. That tripped me up. I’ve always told my readers adoption is what drives value.
But I’ve since discovered that NFT adoption is about to explode higher. It all has to do with a new way of interacting with the internet called the metaverse.
The metaverse is a series of online virtual worlds where people can interact with each other as “avatars” – or digital representations of themselves.
It will be an immersive experience, thanks to virtual reality and augmented reality headsets and glasses. (Augmented reality blends what you see in the real world with computer-generated images.)
In October, centibillionaire Mark Zuckerberg changed the name of Facebook to Meta (MVRS) to put himself at the forefront of this trend. He also committed $10 billion a year to make Meta the main entry point into the metaverse.
And we’re just scratching the surface of its potential uses…
Experts predict there’ll even be digital economies in the metaverse.
Jensen Huang is the cofounder and CEO of chipmaker Nvidia (NVDA). Here’s what he told Yahoo Finance in a November 12 interview…
The economy of the virtual world will be much, much bigger than the economy of the physical world.
You’re going to have more cars built and designed in virtual worlds, you’ll have more buildings, more roads, more houses – more hats, more bags, more jackets.
Corporations are already paying attention, too.
Take iconic shoemaker Nike (NKE). It recently filed trademarks for virtual downloadable sneakers and other goods for use in the metaverse.
It’s a great move.
The metaverse is destined to become the new center of social interaction, the way the local pub has been for centuries… TV was for decades… early internet chat boards were in the 1990s… and Facebook, Instagram, and Snapchat are now.
Soon, we’ll all be going online in a new and transformative way. Companies like Nike see what’s happening and are getting themselves positioned early.
If you think the idea of the metaverse is insane, I don’t blame you.
Until recently, I did, too. Then I remembered the “Old World” of the early 1990s.
Imagine it’s 1991. Someone tells you, “In 20 years, billions of people will buy and sell trillions of dollars of goods over the internet.”
Would you believe them?
Well, I remember 1991. And I recall people saying, “That’s crazy. I would never trust putting my credit card details online… I would never buy a pair of shoes online… I would never buy groceries online… I would never buy movie tickets online.”
Since then, e-commerce has grown to a nearly $5 trillion market. That’s bigger than the energy-exploration-and-production industry.
And e-commerce giant Amazon (AMZN) is now the fourth-most valuable U.S. company.
For many, the metaverse today sounds just as crazy as online commerce did back in 1991.
But it’s a very real and very investable trend.
And NFTs will be woven into its fabric.
Already, you can use them to…
Exchange virtual goods for their real-world analogs (for example, an NFT of a sneaker for the real thing)
Verify ownership and authenticity of real-world goods and assets, such as cars, paintings, and real estate
Play games or complete quests that reward you in digital assets you can use elsewhere
Again, if you’re new to this, I get that it sounds outrageous. But I’ve done deep research. And the metaverse trend is unstoppable.
It doesn’t care if you believe in it or not. It’s happening right now and picking up steam.
And there’s a huge catalyst coming…
With corporations like Facebook (now Meta) and Nike supporting NFTs, onboarding billions of people into the metaverse will happen fast.
It’s taken 12 years to reach 200 million bitcoin users. I believe the adoption rate of NFTs will be even faster.
And there’s another catalyst coming that will kick it into overdrive.
Meta is working on Novi – its crypto wallet. The plan is to combine all its existing and future payments and financial services under the Novi brand.
In fact, shortly after rebranding from Facebook, Meta partnered with one of the world’s largest crypto exchanges, Coinbase (COIN), to build out Novi.
I can’t begin to tell you how huge this is. Soon, all of Meta’s nearly 3 billion users will have access to a crypto wallet.
Do you see how this could fast-track the adoption of NFTs (and crypto in general) at a blistering pace?
That’s why you need to get into the NFT space now – while fewer than 5 million Americans own them.
That’s lower than the number of Americans using bitcoin when I first recommended it to my paid-up subscribers in April 2016. At writing, it’s up 12,616% since then. So we’re still very early in the NFT trend.
Friends, I know you think the metaverse is far in the future. So did I when I first started researching it. And I was wrong.
Even if you don’t fully understand it yet, you must start investing in it now.
We have a narrow window of opportunity. The world is waking up to the metaverse. And just like with every emerging trend, we’ll make the biggest money by getting in early.
If you sat on the sidelines and waited until you fully understood blockchain technology, you missed out on life-changing gains from bitcoin and crypto.
You don’t have to make the same mistake twice.
And I’m putting my subscribers at the center of this massive trend before it goes mainstream… Last month, I made my first three metaverse recommendations. They’re all tied to what I call the next trillion-dollar coin.
It’s a crypto project connecting the real world to the virtual one… and it’s quickly becoming the backbone of the entire metaverse movement.
To find out how you can access my new metaverse recommendations before they’re on Wall Street’s radar, go here.
Let the Game Come to You!
Editor, Palm Beach Daily