09 What types of goods and products will be exchanged within the Metaverse?

Eng. Khalid Moussa Idris
21 Feb, 2024

 09  What types of goods and products will be exchanged within the Metaverse? 

Beyond Nature | Mastering the Metaverse
09 What goods and products will be traded in the metaverse?

Introduction

We previously mentioned that the development of the “Metaverse” world is still in its early stages and there is no specific definition or classification agreed upon globally yet, other than describing its functional role and the services it provides.


Based on the above discussions and the various attempts to define this virtual world, we will suffice here, remaining humble and committed to our levels of awareness of the nature of interaction with virtual worlds, and our awareness of the essence of interaction with virtual worlds, when it is necessary to prepare for its many and varied effects in various areas of economic and social life. And others.

09 What commodities and products are traded in the metaverse

However, we can answer this question by mentioning some of the actual goods and products that are currently being traded, and whose trading will result in tangible effects and repercussions, especially for what is expected in the economic sector and the world of investment, in addition to speculating about some of the goods and products that can be traded in the future of the metaverse world, with Knowing that its greater circulation will depend on the nature of the platforms, ecosystems, and specialized economic systems that will emerge later as a result of the development of the technological tools and technologies that support them.

Virtual Real Estate Commerce

Just as trading and renting in the land, real estate, and housing sectors, are carried out in the real world. Trading in land areas and virtual cadastral and spatial properties is expected to attract the same attention in the metaverse world, given that trade in land properties has a high value and a large financial return.

This is why, when trading virtual lands and spatial properties in the metaverse, it can be imagined that it will have an impact on the economy of communities. Beneficiary customers may buy virtual land spaces, or rent them, to re-offer them for sale, or re-rent them to others, to achieve various purposes, such as building virtual homes or exploiting them for activities. Commercial or industrial, or even setting up complete systems for virtual complexes.

09 What commodities and products are traded in the metaverse

The Rise of Virtual Currencies

It is currently seen that there is a global trend towards completing commercial transactions in digital currencies after the buying and selling of encrypted digital currencies via the Internet has gained great popularity globally, such as the two most famous currencies in the world, which are Bitcoin and Ethereum, as the world has begun to use them and others extensively in recent years. In many commercial transactions, such as exchanging goods and products and paying service fees.

Until its influence expanded and spread further in the metaverse; As was talked about currencies previously, when answering a question; What digital currencies are used in the metaverse? Metaverse communities have adopted the same financial policies adopted in trading encrypted digital currencies and tokens, in exchange for the businesses, services, and transactions they provide through these communities or offers within these virtual environments.


Virtual Goods and Commodities

Within the expected array of virtual goods and products, users can purchase and trade countless virtual goods in the metaverse, including, for example, clothing, accessories, shoes, weapons, cars, and all other personal belongings, items, and tools. These goods may contain varying levels of rare or unique stones and metals, which makes them of high value, necessitating some people seeking to acquire them, such as hobbyists or collectors of historical antiques. Imagine that you are one of those searching for their virtual identity and enhancing it by owning virtual goods and collectibles.
09 What commodities and products are traded in the metaverse

Provision of Virtual Services

Metaverse platforms and communities can create digital or smart application programs to provide various administrative services, such as handling problems arising from interactions between users and the services provided by Metaverse platforms and communities, and they can also provide some different services such as handling problems that may occur in administrative transactions, or as a result of To interact between them and their beneficiaries.


These services include Virtual design and development, organizing and managing event activities, providing appropriate technical support for artistic entertainment performances, and providing virtual solutions resulting from acquired experiences or experiences generated for the reality of virtual tourism communities and conferences. Users and beneficiaries can also; Exchange their skills and services for virtual currencies or other valuable virtual assets.

Intellectual Property Fees


Virtual intellectual property fees include fees for registering goods, products, services, works, and collectibles of innovators and artists in virtual intellectual property, in addition to the creations of creators and artists in the virtual world, which means that Metaverse confirms their ability to own and sell their assets or dispose of their license for digital innovations, 

Their creativity is presented in the field of virtual art, virtual simulation, music, designs, and other forms of non-fungible token systems (NFTs), and modernization in all types of digital content. Intellectual property rights and protection will play a crucial role in enabling trade and enhancing the value of virtual services and assets.

How does the metaverse work?

When we can change our understanding of how we interact with things around us and are willing to change our perception of how we interact with the objects around us, just that time we can understand the Metaverse world.

09 What commodities and products are traded in the metaverse

In this book, I'm providing answers to many questions related to the world of the Metaverse, and I will present the answers in the form of brief explanations, distributed along the headings of basic paragraphs, and graded according to the questions I mentioned in the introductory paragraph.


In these articles, of Mastering the Metaverse, I discuss.

In these articles, of Mastering the Metaverse, I discuss.

PART (01)

01 Beyond Nature - Mastering the Metaverse

02 What is Dubai’s Metaverse strategy?

03 How does the Metaverse work?

Eng. Khalid Moussa Idris
Dubai, U.A.E.

Eng. Khalid Moussa Idris

Eng. Khalid Moussa Idris

I'll Provide administrative and operational consultations on the reality of smart cities, how to transfer urban cities into smart cities such as Smart Dubai, and I can provide specialized training courses in the field of modern systems and technologies used or considered as prerequirements for smart cities.

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