Imagine the internet isn’t something you look up on a screen.
It’s a 3D virtual world – and you can step inside it…
Welcome to the Metaverse. It’s the next evolution of the internet. And it’s rapidly going mainstream.
It’s why I caught up with Teeka Tiwari’s chief analyst at our Palm Beach Letter advisory, Nilus Mattive.
Nilus recently did a deep dive on the Metaverse and how you can profit.
And for this week’s Legacy Inner Circle issue, we talked about what this new version of the internet will be like… why it’s not just for kids… and how it will soon be host to one of the biggest economies on the planet.
For a sneak peek, just click on the image at the top of the page.
Editor, The Daily Cut and Legacy Inner Circle
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Tom Beal: What I’m wearing is a Facebook Oculus Virtual Reality. I don’t have it on right now. But it was to start off with something unusual.
Facebook has this company, Oculus. It is 100% virtual reality. But it is the tip of the iceberg of what is coming with the Metaverse.
My name is Tom Beal, host of The Weekly Pulse, where we break down the biggest wealth-growth strategy for you each week. I’m here today with the editor of Legacy Inner Circle, Chris Lowe.
Chris, can you help me and the viewers understand a little bit more about this Metaverse and what we have in store today?
Chris Lowe: Tom, that was a great way to start this week’s Weekly Pulse. Because you’re right. The Metaverse does involve virtual reality (VR) goggles.
But it doesn’t just stop there. It brings in blockchain, the technology behind cryptocurrencies. There’s augmented reality (AR), which is where – a little bit like virtual reality – you’re in your normal world, but with maybe Google Glass. You had those computerized images in the virtual world. And there’s also going to be economies in the Metaverse.
So the way I think about it is the Metaverse is an evolution of the internet. There is huge economic activity going on in there. Guys like Teeka Tiwari and Jeff Brown, who are two of the smartest guys in tech and crypto, are pounding the table on this idea. Because just like the way the internet transformed everything we know about…
You and I are in our mid/late forties – we’re old enough to remember the internet coming along. I’m sure you had conversations with folks back then, saying, “Hey, this internet thing. I’ve heard about it. What is it?” And someone said, “Well, it’s these websites. There’s hyperlinks.” And you were like “Huh?” And it probably seemed really out there.
Well I think that’s where the Metaverse is right now. We’re sort of in 1999. And this is the next evolution of the internet. And there’s huge activity.
We’re going to be watching my interview with Nilus Mattive. Nilus writes the Palm Beach Letter with Teeka Tiwari. Teeka says it’s the most exciting trend he’s come across since crypto. So we’re going to get into it.
But what’s your understanding of the Metaverse, Tom?
Tom: I liked how you just shared that. Think back to the late 1990s, for those who were there and will recall when we were trying to discuss what email was, what the internet was. It was so confusing because it was unknown.
And I think that’s a very similar and pertinent way to wrap our mind around what’s coming with the Metaverse. And the virtual reality headsets are one aspect of it. But not the only aspect. You and I are meeting through this digital connection through video. But it will be meeting in a literal, virtual room, per se. Whether it’s using some headsets like this, or otherwise. So there’s a whole bunch of things coming.
What I also like is how in that world, there’s going to be ways to monetize. I think you get into that with Nilus in this upcoming video.
So it’s where the puck is going in a big way. If Teeka said this is the next, most exciting thing since crypto, that means a lot coming from Teeka. Because that was huge when he brought crypto to people’s attention years ago.
This is way ahead of the puck, which can help you position yourself properly with opportunities to grow and protect your wealth in this big trend, which many people are not only saying is highly probably but is almost inevitable at this point.
Chris: That’s right, Tom. One thing I forgot to mention was that non-fungible tokens (NFTs) play a big role in the Metaverse. When I talked to Nilus, he talked about how one NFT recently sold for $11.3 million. So this is a trend in motion.
It’s what we call a “megatrend.” What we mean by that is a trend that’s going to affect universally around the world. It’s going to be a global trend. Not everywhere, maybe not in small villages in Mongolia… of course, there’s going to be pockets that are not going to be part of this trend.
But anyone with an internet connection – and right now, that’s 60% of the world’s population – is going to be affected by this trend. It’s going to bring profound changes to society. My prediction is that when folks look back 10 years from now, they’ll be thinking, “Gee, I remember when Chris and Tom started talking about this thing called the Metaverse. And I thought it was crazy. You’d be putting on VR headsets and having economies in a digital world. I thought it was crazy. And now, it’s part of my everyday life.”
So I reached out to Nilus. He wrote an amazing piece in Palm Beach Letter, our flagship advisory over at Palm Beach Research Group. If folks watching this are subscribed to that, they can catch up here.
We’re all about bringing those big stories and big opportunities to readers across Legacy Research Group. So we have that interview for everybody. So that’s what we’re going to do today.
Tom: Alright. Let’s get to the interview that Chris had with Nilus. Enjoy.
Chris: Hey, Nilus.
Nilus Mattive: Hey, how’s it going, man?
Chris: Pretty good. How are you?
Chris: We’re recording.
Nilus: We’re in the Metaverse.
Chris: We’re in the Metaverse recording.
Nilus: Kind of. We’re close. We’re not there yet, but we’re close to the Metaverse.
Chris: We’re pretty close. I just read your piece in Palm Beach Letter and loved it. I thought it was a great look inside what’s going on in the Metaverse.
We sort of are in the Metaverse because we’re talking on Zoom. We’re not with each other, but we’re not in this fully Metaverse-y world yet.
Nilus: Yeah. But the point I made in the issue, and this is what helped me get my mind around it… because I think to our audience or to people who aren’t familiar with the concept, it sounds really out there.
But in a sense, you’re right. I’ve never even met you in person. I don’t know when I will meet you in person. But it doesn’t matter. We already know each other and are interacting in a meaningful way electronically. So we’re halfway there.
And probably there a lot faster than maybe I would have thought we would be there 10 years ago, when even streaming technology wasn’t where it is right now – where I just click a button and boom, here we are and I’m looking at you and you’re looking at me, and there’s very little lag between our communication.
I think that’s the easiest way to explain it to somebody. It’s just going to be a far more evolved version of what we, especially with the pandemic, already accelerated.
Chris: I was going to mention the pandemic. Both of us are working with Legacy Research Group. You’re on the west coast of the U.S. I’m in Ireland, where I’m from. I’m in my kitchen, you’re in… I don’t know where you are…
Nilus: I’m in my surf shack.
Chris: That’s nice. We’re doing our jobs from home. We’re communicating online. And it’s all been a little bit hard to adjust to, but weirdly easy. We just pop on these calls. Never met each other, but we can interact.
Let’s dive into some of the stuff that’s catching people’s attention a bit more. I wanted to start with crypto punks. This is something I’m pretty sure most readers would have come across, even just in an article or something. These crazy prices, that these little digital images that are sold as NFTs, non-fungible tokens, are fetching. I read in the issue that you have a crypto punk.
Nilus: I have a share in one. That’s one message for our readers – the NFT space. Last time we talked, I explained how bitcoin was not in my wheelhouse. I was aware of it forever but didn’t participate until more recently. [Legacy Inner Circle members can catch up on that conversation here.]
The NFT thing is an even bigger extension of that, in the sense that when you look at the price action of these things, it’s really hard to understand. This is a digital image, a pixelated image, of a person or a cartoon character, essentially. It was given away for free. And now, one of them was worth $11.3 million the last time it changed hands.
It’s hard to understand. You go, “Well, I can take a screenshot of that same image and it is, in terms of pixels, exactly the same.” However, because the original, blockchain-verified version of that image, that’s the NFT, therefore that is worth $11 million.
Then the question we started to ask is, well, beyond just sheer speculation, why would there be a frenzy for these things in the first place? Why do people want to own them?
An NFT artwork, you can kind of understand from the art world. But a crypto punk? It’s a picture of a guy. So what am I going to do with that? Is it really art? It was randomly generated, 10,000 of them.
I think the answer is because, again, if you start to think about moving to the digital world, and people wanting to show off and have trophy assets in the digital world the same way they want to have trophy assets in the analog world… You know, why do you need a million-dollar car? You don’t need it. It might be slightly faster than a regular car, but it’s because you want to prove who you are, how wealthy you are, how cool you are, and all those base human emotions.
So the crypto punk thing is driven, in my opinion, by that same general human psychology of if we’re going to move into this digital world, where I’m going to have an avatar that represents me in that world, then I’m going to prove to everybody, “Hey man, I have that crypto punk from when this thing first got started. And $11 million, for me, is not a big deal to own that and to be that person or to be that thing in the digital world.”
The Metaverse validates, to some degree, the price action in NFTs.
Chris: I totally agree. I was just doing some research for this call, looking at a thread on Twitter talking about where we are with the internet. 4.5 billion people online. That’s 60% of the world’s population. Americans are spending 11 hours a day online. 11 hours a day in some sort of digital interaction.
So I think you’re right. The sticking point in people’s head is, “Jeez, this is just a digital image.” But of course, we’re splashing out on status items all the time, whether it be sneakers or cars, you name it.
So for folks who have a hard time understanding this, I think the idea is that we’re really becoming a digital species.
Chris: And we kind of know that, but we don’t like to think about how long we spend online. And we’re going to take all our human characteristics into that digital world.
For people who are just coming to this, how would you explain the Metaverse? It’s one of these jargon-y, off-putting terms, in a way. It sounds pretty wacky. So what is it? And why are you guys at Palm Beach Letter so excited about it?
You are investors. You’re hard-nosed about profits. You’re interested in things that can help your readers really move the needle on their wealth.
We know that there is big money in crypto punks and artworks have sold… But where does the rubber meet the road for the commercial or investing side of this?
Nilus: You’re right. It’s hard to explain it in a nutshell. Everybody has a general feeling of what the Metaverse is going to be or what it is, but no one yet can say exactly.
The internet is the same deal, right? If we talked about this 20 years ago, “Well, there’s these websites and these things. It’s going to get here.” But it was kind of hard to fully understand exactly how it would get there.
I think what we can say is, essentially, the Metaverse is going to be the conglomeration of all these different technological trends we’re experiencing right now – blockchain technology, high-speed internet, mobile internet, portability of technology, the idea that we are spending far more time virtually with each other, as well as the gaming thing, which we didn’t even really get into yet.
But basically, it’s going to be the way all of these technologies come together to blend the digital with the analog portions of our life. I think that’s the key. Because you’re right. Right now, the digital aspect is either in my hand or it’s in my office, and then I leave and I go do my thing. There isn’t really a seamless transition from one to the other. They’re not interlaced continually, as they will be when we’re actually dwelling in the Metaverse. And it might be the point where everything is partial digital, partial analog, I think is what we’re talking about.
So as far as the commercial possibilities, beyond speculating on NFTs or buying a crypto punk or whatever, you’re going to see new companies and old companies embrace this idea. And the successful ones…
If you think about it as an economy, our argument is that essentially, the Metaverse will be one of the largest economies in the world, just in and of itself.
And in that regard, it will transcend geographical economies. It’s going to be a great equalizer in terms of spreading opportunities throughout the globe to places, people, and companies where those opportunities aren’t even possible right now.
Tom: So, welcome to the Metaverse. Obviously, this [Oculus headset that Tom was wearing at the start of the video] is only one aspect of the Metaverse. This is the tip of the iceberg. The rest of this interview is for the Legacy Inner Circle members’ issue that’s released this Friday.
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Go click the link below… learn more about that $100 credit and Legacy Inner Circle. We look forward to inside the members’ area… Until next time, make today great.
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