Space: The Final Frontier…
Nowadays, for the KGI crew, the “final frontier” has been our venturing into the metaverse. What is the metaverse you might ask? The dictionary defines it as “a virtual-reality space in which users can interact with a computer-generated environment and other users.” Wikipedia defines it as “a hypothetical iteration of the internet as a single, universal and immersive virtual work that is facilitated by the use of virtual reality (VR) and augmented reality (AR) headsets. In colloquial use, a metaverse is a network of 3D virtual worlds focused on social connection.” And aren’t we all as networkers focused on connection?
Just as I always feel the universe brings more of what you are focused on, recently we have been involved with and learning more about NFTs and the metaverse. Initially our neighbor, Joe, here at 280 Main Street, introduced us to NFTs with the launch of his Golden Gorilla Speakeasy NFT. What interests me about this project is that they integrate the Speakeasy with the development of a point-of-sale app that automates all of the mundane tasks of running a social business, such as opening a bar, restaurant,or other social venue. I was also blown away by how detailed and creative the individual NFTs are that I accepted a board position with Golden Gorilla. This collection is one of the first that gives people who aren’t familiar with crypto currency the ability to purchase one as you can purchase with a credit card, meaning you don’t need to have crypto currency or be a crypto guru to get in the game. You can learn more here or reach out to me.
Soon after, I was in a meeting with crypto and NFT expert Dr. Jatali Bellanton, who not only informs on NFTs and the like, but has created her own crypto hedge fund. I realize NFTs have taken a hard hit, but I wouldn’t count them out yet. Learn more about them here.
Most recently, we have started working with a company that creates experiences in the metaverse as well as real life. We are currently developing an engaging website that showcases their high-end experiences on the sandbox. The sandbox is a virtual world builder that mimics the look of Minecraft immersive virtual worlds. Other metaverse platforms include Decentraland, Hypernation, and more. Facebook is currently creating Horizon in BETA right now. Famous NFT Bored Ape has developed Otherside. Live events are happening as well, including the recently-ended NFT.NYC and ApeFest2022. The Bored Ape Yacht Club’s (BAYC) annual event on the final day premiered this video from two of the celebrities who’ve purchased tokens, Eminem and Snoop Dogg.
And if you think all of this is just “kids” stuff, think again. Take a look at this current Vogue Business article. “The most high-profile fashion event in the metaverse yet brought together mainstream brands and digital upstarts.” Read about it here.
In the metaverse, you can attend a glamorous experience without leaving the comfort of your home. And how does this have the potential to make money? There are a limited number of NFTs per collection, as they become more and more popular, they can increase in value simply because of supply and demand.
The same goes for land currently in the metaverse. It can be limited and have premium locations just like in real life – open land next to big name stars and brands goes first driving up value. Also, inhabitants of these experiences can purchase almost every item in the experience from a virtual T-shirt to a virtual Ferrari. Therefore, there can be links to bring buyers to purchase real experience tickets, T-shirts, and even… a real Ferrari!
There is so much more we don’t know. We have just started learning and being immersed in only the tip of this new adventure, and we are open to trying new things and expanding our horizons and capabilities.