How Metaverse can reshape Fintech?.

Is the buzz for Metaverse real? And, how it can revolutionize the financial world?

The concept of virtual worlds has been in knowledge for 20 years but recently, the tween of two realms, the physical world, and the virtual world, resulted in Metaverse. Social media has influenced real lives and is the reason behind hyped user expectations. Metaverse will be an opportunity for users to design their own happiness!

Pandemic was the main driving factor for acceleration towards technology adoption. User’s interest in Metaverse is a fling for other technologies like AR, Blockchain, cryptocurrency; vis-à-vis, building digital assets and digital presence for both, individuals and businesses. Since living with Pandemic is a new normal; these promising technologies will keep on solving users’ daily routine challenges.

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Contents

1- What Do We Know of the Metaverse?

2- Some of the commonly known characteristics of Metaverse.

3- How will virtual space Impact the Fintech World?

4- Fintech Solutions in the Metaverse.

5- The user of Cryptocurrency in video games.

6- NFTs and Metaverse.

The Future of Fintech in the Metaverse

Apple has been the leading tech giant is introducing new trends in its solutions. Much awaited iPhone 12 Pro Max has LiDAR sensors and is rumored to be the first smartphone to generate a 3D model with a simple camera. With the talks in town of VR headset technology and Augmented Reality, Metaverse is not a product developed in isolation.

Finances have always been a sensitive topic, the budding fintech industry has now gripped the financial sector due to their unique, safe, and seamless fintech solutions.

What Do We Know of the Metaverse?

Facebook is always in the Limelight for its new features and interactive user experience. Metaverse was indeed a discovery for users as they now expect to use their Facebook profiles in Metaverse. Is it possible and will this technology be commonly available? Metaverse is a virtual reality and based on Blockchain, the same technology used for building mighty fintech and NFTs.

The Metaverse is not an ecosystem but a personalized and customized space for every user to experience augmented reality, virtual reality, and glimpses of the real world, simultaneously. Some of the commonly known characteristics of Metaverse

1- Users can enjoy freedom; go back in forth in time, as it has no time and space limitation

2- Users can do whatever they want to do; it is new life for people with disabilities

3- Users can network and will be able to share their space with other users

4- It is a different life and users may need to shop too, here comes the role of Fintech and the most buzzed word in town ‘NFTs.’

How will virtual space Impact the Fintech World?

Metaverse is a dream come true for game lovers. The gaming industry can put forth Metaverse, to ply a virtual reality user experience, of being ‘In the Game.’ The gaming industry using augmented reality along with Blockchain is generating a unique gaming experience, where the players will win not only a game but also points in the form of NFTs.

Users can buy Real Estate Property and with the brands like NIKE, H&M, and even Walmart entering Metaverse, the need for digital payments is met by Fintech solutions. It could be another opportunity for investors to secure their investment using NFTs, Blockchain in Fintech can help users to use their finances simultaneously in the virtual world and real world.

Fintech Solutions in the Metaverse

Novi is the hot stock for traders since Facebook launched this digital wallet app. Fintech has the future to grow not only in the real world but in the virtual world too. With Google launching its virtual world but it is closely linked with the real world using augmented reality, Fintech will have a wide scope of facilitating a big chunk of user-segment.

The user of Cryptocurrency in video games

The gaming industry has been fun as well as a career stream for many. The introduction of the digital world has made gaming more fun and the user experience is taken to a next level by launching cryptocurrency in video games. Now players can play to win and Earn a Living. Crypto becoming prevailing trend may yearn to eCommerce industry to add another payment method accepting the digital currency for sales and purchases.

NFTs and Metaverse

Social media has been a revolution in the lives of the majority of users. Twitter planning to facilitate artists and creators to sell their art in NFTs can be a new trend and for these users may need to have their digital wallet, another great opportunity for Fintech solution developers.

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Metaverse is a new Virtual World

The Future of Fintech in the Metaverse

Although it is in its nascent stage, in a couple of years, Metaverse will be ready to serve at all levels, Facebook will be the pioneer of Metaverse, and Fintech startups can benefit by focusing on developing supporting services for these Giant new universes about to unveil. On top of that, the major fintech players can upgrade their existing services and participate in Coinbase, an upcoming NFT marketplace. Like-minded people can now share their interests safely, swiftly, and even make money out of it.

 

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