Big Money in the M€taver$e

Chandler Luhowskyj
Chandler Luhowskyj29 Oct, 2021
metacash

If you’ve spent a few minutes browsing the internet, you’ve likely come across the term “metaverse”. The core concept of the metaverse essentially allows users to create high-quality digital avatars of themselves and interact with various environments and settings with friends, family members, and other individuals across the globe. If you’re familiar with Second Life from a few years back, the idea of the metaverse is similar but more nuanced. 

The updated concept of metaverse encourages users to attend virtual concerts, buy branded clothes and other swag for their avatar, and even opens up the possibility of transforming how we work remotely. 

Despite the metaverse not being an entirely new concept, the resurgence has been immensely popular amongst tech giants…and with that comes some serious coin. Admix, a digital agency that helps companies display ads in the metaverse, recently raised $25 million to monetize the metaverse – that’s a lot of virtual Louis Vuitton bags to purchase.

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