Blackstone has expanded its corporate private equity business’ footprint in North America by launching a new team based in San Francisco.The firm said senior...

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The Board of the Pennsylvania State Employees’ Retirement System has picked Veritas Capital and Blackstone for its latest round of alternative asset fund commitments.The...

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This new annual program showcases 100 women who are role models, leaders, innovators, and influencers in the global security industry.

To facilitate the acceleration of its expansion, Currencies Direct, a global provider of digital foreign exchange (FX) and global payment services to private clients and SMEs, announced a strategic...

—The leading tech company doubled its headcount in 2021 and is continuing its rapid momentum in 2022— NEW YORK–(BUSINESS WIRE)–VTS, the commercial real estate (CRE) industry’s leading leasing, marketing, asset management and tenant experience tech platform, today announced that following a banner year in 2021, it is now used by used by 19 of the […]

The post VTS Closes Out Record 2021, Doubling in Size and Becoming the Industry’s Leading Tenant Experience and Building Operations Platform appeared first on Fintech News.

–Industry Leading Deal Management Platform CEO Recognized For Impact On CRE Tech Industry– NEW YORK–(BUSINESS WIRE)–Dealpath—the leading cloud-based deal management software solution for real estate investment management firms—today announced that CEO and Co-Founder, Mike Sroka has been recognized by GlobeSt.com as one of Commercial Real Estate’s (CRE) Influencer’s In CRE Tech. “I am incredibly honored […]

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When Facebook changed its name to Meta it claimed to be pivoting toward its next level of social engagement inside the metaverse - an immersive 3D environment where multiple people share virtual space. Mark Zuckerberg envisions a world where anyone can access the metaverse to interact with others in real time in a multitude of applications from convening for work meetings to attending concerts without having to be present in a physical location.

However, 77% of consumers are against Facebook owning metaverse data, with 87% preferring a metaverse on the decentralized blockchain, according to a new survey of 1,000 U.S. consumers commissioned by Advokate Group. This sentiment was even more pronounced among Gen Z respondents who were 10% more likely to prefer a blockchain metaverse than their Millennial counterparts.

This clashing of opinion on metaverse ownership conjures debate over the primary function of metaverses and what are our realistic expectations? 

What Will Be Done in the Metaverse?

The number one activity consumers are pursuing in the metaverse is gaming followed closely by socializing with friends, according to the survey. More than half (55%) expect to spend 3 or more hours a day in a metaverse.

When it comes to making money in the metaverse, over 93% of respondents want to make real money that can be transferred outside their games and said it would be the top feature requested of a metaverse. Another highly requested feature is the ability to transport between games without leaving a metaverse.

Is There Money to Be Made in the Metaverse?

Play-to-earn was a major interest of those surveyed, as 93% would game more if they could make minimum wage playing. Nearly two thirds (63%) would play 3 hours more per day if they could make money. Shockingly, 11% would play 7 more hours a day and 87% would switch to full-time gaming if they could get paid. 

Though many metaverses are vying for attention, one of the most promising metaverses is soon to be released on Solana, which is ideal since it is the fastest blockchain in the world and — not surprisingly — has the fastest growing ecosystem as well. 

This metaverse called MetaGaia was founded by MIT alumni with backgrounds from Blackstone, BlackRock, Sony-Ericsson and Wells Fargo. MetaGaia participants will be the first to play-to-earn game, socialize, shop brands and buy virtual real estate. 

Game developers from Final Fantasy, Zynga, Walt Disney and Ismole are rolling out the first play-to-earn game on MetaGaia called HexaHero, which enables players to buy, breed and sell NFT Hexas and NFT Heros. Players use Hero avatars to pilot Hexa robots in one-on-one battles with other players. 

The company is dropping its first of three NFT collections starting today. 

When is the metaverse coming?

Those who get an early start building their metaverse empires will likely be rewarded with inexpensive land, characters and other NFTs that rise exponentially in value. 

But for the masses, many believe metaverses will take time to become mainstream. One in five (20%) believe they will be mainstream 1-2 years, while nearly half (49%) believe it will take 3-6 years. 

While Zuckerberg's vision of the metaverse equates to his greater control over social media, most in the metaverse are amassing characters and land on the blockchain far from the reach of Facebook.