Who gets to build the metaverse?

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A Glimpse Into the Metaverse: Who gets to build it?

In this article, we delve into the crucial aspects of the metaverse, including its significance, how it is being shaped, and the emerging opportunities within this virtual ecosystem. Additionally, we will address the role of women in developing the metaverse and explore measures to increase their participation.

Our journey begins with a look at the money-web three, a cutting-edge payment technology that facilitates payments from any wallet or exchange, with retailers receiving funds in either fiat or crypto. To set this into perspective, we'll anchor our discussion on the CEO of X Money, a web three-based payment technology firm, and her experiences in the industry.

Understanding the Metaverse

If we delve into the fundamentals of the metaverse, we'll find it is still evolving and holds immense potential for digital disruption, akin to the internet's impact. The metaverse could revolutionize sectors from sales, marketing, product innovation, and community building. However, key questions on the balancing act between the real world and the metaverse remain unanswered.

Interestingly, the concept of the metaverse is often linked with gaming, as it was birthed from this industry. Despite this, it is vital to realize that the metaverse extends beyond the gaming realm. A recent study by McKinsey revealed that almost 60% of consumers and nearly all business leaders anticipate the metaverse's positive influence on their industries within the next 5-10 years.

Moreover, predictions reveal that the metaverse could generate up to $5 trillion in impact by 2030, equivalent to Japan's economy, the world's third-largest. Key sectors ripe for disruption include fashion, luxury, financial services, retail, telecom, media, and healthcare.

Women in the Metaverse

The role of women in shaping the metaverse is vital and intriguing. Current data suggests that more women than men are regarded as 'power users' in the metaverse. Women are keen to engage in hybrid metaverse experiences that blend the physical and digital worlds. In contrast, men lean more toward purely digital engagements.

However, despite women's proactive involvement in the metaverse, they continue to face barriers such as under-representation, limited access to resources, gender bias, lack of awareness, and safety concerns. Thus, concrete measures are necessary to encourage and support women's increased participation in the metaverse.

Role of Cryptocurrencies and Blockchain in Financial Inclusion

Financial inclusion is an aspect where cryptocurrencies and blockchain can play a crucial role. With an estimated 1.7 billion people, mostly women, lacking access to traditional banking services, crypto and blockchain can provide these unbanked individuals a chance to participate in the global economy with ease.

With digital wallets and internet access, underprivileged individuals can engage in financial services like lending, borrowing, and microtransactions without interacting with traditional banking systems. Moreover, using crypto for remittances dramatically reduces the substantial fees associated with traditional money transfer services.

Getting Started

Embarking on a journey into the metaverse need not be intimidating. Social media platforms like Twitter offer a wealth of information, as do events, newsletters, books, and podcasts. Anyone can learn about the metaverse and its associated opportunities.

Companies like X Money, a bridge between the traditional web 2.0 industry and the emerging crypto web 3.0 industry, signify the new paradigm. Such services facilitate a seamless transition between these financial worlds, enhancing opportunities for creators and users alike within the metaverse.

Conclusion

As we advance into the exciting prospects of the metaverse, the importance of fostering increased involvement, particularly among women, stands paramount. By addressing the challenges and creating an inclusive framework, we can all contribute to shaping a diverse and dynamic metaverse.


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