- SoftBank revealed that it would be spending $150 million on a Metaverse platform.
- As the concept for the Metaverse continues to develop, so will the hunger of investors.
The Metaverse transitioned from literary text pondering to boundless technological actuality during the previous year. This immersive, digital alternative to the physical world was first mentioned in a 1992 science fiction novel by Neal Stephenson and later referenced in other sci-fi settings such as Ready Player One. It is a place where virtual avatars can come together to work, pursue hobbies, shop or otherwise gather to engage in online communities and explore the digital space. The phrase first appeared in the public domain in October 2021, when Facebook renamed itself as Meta Platforms Inc. (now often referred to as Meta) in a bid to go beyond its social media beginnings and indicate a larger plan around “the next chapter of the Internet.”
Technological Developments
While the Metaverse symbolizes the culmination of the previous 50 years of technological advancement, it will also open the door to new and entirely distinct ways of thinking about and dreaming about humanity’s preoccupation with ever-larger tales in the coming years. As part of this, we will explore new modes of engaging with one another, talking, and sharing stories, ushering in a new period in our socio-economic history of centralized and decentralized 4IR, Web3, Society 5.0 cultural history.
In addition to institutional and ordinary investors, the Metaverse is attracting the attention of financial institutions. Towards the end of November 2021, SoftBank revealed that it would be spending $150 million on a South Korean metaverse platform. The stock prices of firms that are leaders in the field have soared. Several exchange-traded funds (ETFs) concentrating on the Metaverse have arrived on the market, with some showing promise. As the concept for the Metaverse continues to develop, so will the hunger of investors for it.
