The Metaverse is bringing some major changes to almost every online entity. What does that mean for you?
No conversation today about the online world is complete without at least mentioning the Metaverse. But what exactly is it and what does it have to do with fantasy finance? Here, we’ll break down some of the biggest questions you might have about these emerging technologies.
What Is the Metaverse?
It depends on who you ask. Mark Zuckerberg has some lofty ideas stating, “This is a big topic. The metaverse is a vision that spans many companies — the whole industry. You can think about it as the successor to the mobile internet.”
That’s a bold claim, and not one that is necessarily echoed by everyone with WIRED calling it a “deeply uncomfortable, worse version of Zoom”.
So what exactly is it? Well, the best way to think of the Metaverse is to replace it with the word “cyberspace”. That might sound a bit outdated by today’s standards, but it was at the cutting edge of information technology in the 90s. The Metaverse has the potential to do to the internet of tomorrow what social media did to the internet a few years ago.
The goal of the Metaverse is simple: to bring people closer together by using the most modern communication technologies.
What Is Fantasy Finance?
Fantasy finance is basically fantasy sports. Instead of drafting players for a virtual team, users select a number of stocks or cryptocurrencies to add to a virtual portfolio. Once drafted, users can put their skills to the test in a variety of matches against other investors and track their performance in real-time using real-world data taken directly from NASDAQ.
There is a wide range of fantasy trading platforms for users to choose from. They all have their own unique format tailored to different types of matches/users. For example, StockBattle lets users compete for a one-on-one against other users in 15-minute matches and offers immediate rewards to whoever’s portfolio grew the most (in terms of percentage growth). Alternatively, Investor lets users enter into competitive seasons to climb the ranked ladder and earn larger rewards. No matter which platform you choose, though, you can earn real rewards based on your knowledge and skill.
Fantasy finance can offer more than just entertainment. Users can both earn extra income and learn valuable skills by using the in-built analytics tools. Furthermore, since every match guarantees a winner, users’ odds are actually far better than any traditional investment. For example, even if a user’s picks underperform expectations, they still have a chance of doing better than their competitor. On top of all this, users can get instant feedback as soon as the match ends. Investors know exactly what mistakes they may have made and can use that to boost future earnings.
Fantasy Finance Tournaments
These new free-to-enter tournaments on StockBattle are made up of a series of contests spanning seven days with no limit on the number of participants. Each week, there’s one tournament that runs from Monday at 11 AM EST and ends at 11 AM EST the following Sunday. Registration for each week’s tournament closes as soon as the tournament begins, so be sure to sign up early.
Fantasy trading tournaments consist of seven daily contests over the week. Each morning, users are asked to draft a virtual portfolio for use during the day. At the end of the day, every user gets an email with their daily results and how they stacked up against the competition. Scores are tracked in the form of points – the number of points a user earns each day is equal to the number of participants they beat. For example, if a tournament has 100 entrants, whoever gets first place will earn 99 points as they beat 99 people. Results are also tracked in real-time in the Leaderboard tab inside the tournament app.
At the end of each week, the points are added up and the top 50 winners each earn rewards from the $200 weekly prize pool with the top prize for free tournaments being $50.
How Will the Metaverse Change Gaming?
To a degree, the Metaverse already exists in games. But, importantly, it’s incredibly basic. Many games these days allow users to customize a personal avatar and exist in a shared virtual world with other users. This sense of persistent connectivity is at the heart of the Metaverse.
An early version of the Metaverse could be seen in Second Life. Second life was released nearly 20 years ago and was truly ahead of its time as an online social platform where users could create digital representations of themselves to socialize with others, shop, and build property to enrich their virtual lives.
The Metaverse sets itself apart from current games in a number of ways.
- It’s persistent: The Metaverse never “resets” or “pauses” or “ends”. Just like the real world, it is always there and always happening.
- It’s synchronous: Even though pre-scheduled events will happen, the Metaverse will be a shared living experience that exists consistently for everyone and in real-time.
- It’s expansive: Without any cap on concurrent users, everyone can be a part of the Metaverse while participating in a specific event/place/activity together, at the same time.
- It’s a fully functioning economy: Individuals and businesses will be able to create, own, invest in, and sell an incredibly wide range of value-producing work that is recognized by others.
- It bridges the digital and physical: The Metaverse will provide an experience that spans both the digital and physical worlds bringing us closer to the future we’ve been promised.
There’s no shortage of innovative ways that the Metaverse could—and likely will—change the entire gaming ecosystem. The world of fantasy finance is unlikely to be an exception.
The Metaverse and Fantasy Finance
So, where does fantasy trading enter into this? The possibilities are endless. Imagine a virtual stock floor where anyone can enter and begin instantly buying and selling virtual stocks as part of an ongoing, persistent fantasy trading tournament.
While exploring the Metaverse, you might come across a new company and want to test the waters of new investment. The seamless integration of Metaverse technologies would allow you to instantly add the stock to a virtual portfolio, monitor its progress, and earn extra income if you can outperform others in your fantasy finance league.
Can you also imagine that you don’t have to switch back and forth between screens when you want to learn the news or check the price updates? All that information is in one space, and you should just shift your gaze and scroll with mere movements of your fingers to get it. Feels like magic, right? However, it’s what the Metaverse promises.
The persistent, interconnected nature of the Metaverse ensures major shifts in every online ecosystem. So getting in early is guaranteed to reward early adopters. With fantasy finance platforms, you can plunge into the world of the Metaverse right now. By adding the metaverse stocks such as FB and MSFT to your portfolio, you might become one of the first to reap benefits from the upcoming meta era.
The Bottom Line
Only time will tell exactly what impact the Metaverse will have on gaming, finance, and the internet at large. Either way, the ideas behind the Metaverse are here to stay. Getting in on the ground floor of something with the potential to fundamentally change the entire digital ecosystem is a rare opportunity.
So, take the plunge with fantasy finance. Learn a new skill, familiarize yourself with the future of the internet, and earn some extra income in as little as 15 minutes.