How to Buy Meta – Los Angeles Business Journal

How to Buy Meta – Los Angeles Business Journal

Meta Platforms Inc. Formerly known as Facebook Inc. – Both Apple Inc. And Microsoft Corp is heavily involved in virtual environments known as the metaverse. Those looking to own “real estate” or start a metaverse-related business, just like in the real world, often require loans, financial aid, and mentorship.

The metaverse is a term describing a version of online interaction in which traditional messages and video chats are supplemented with virtual scenes and images, giving users opportunities to customize online interactions.

Currently, this reality is largely contained within a headset or on a computer screen, allowing users to experience spaces such as virtual office buildings, malls, and event spaces.

Bloomberg Intelligence estimates that the metaverse will be a $800 billion marketing opportunity by 2024. Bloomberg predicts that the primary market for online game and console makers could exceed $400 billion, with live entertainment and social media making up the rest.

Meta is expected to invest $50 billion in its metaverse in the next few years, developing virtual reality glasses and robotic arms to connect users in the real world to the virtual world.

small business

While larger companies build tools and the metaverse framework, smaller companies are looking for ways to create experiences and sell products to virtual visitors. So how does a company find the funding to invest in a virtual storefront, office building, or event space?

Unlike shredding a URL for less than $100 during the early days of the Internet, getting started with “land” in the metaverse can currently cost anywhere from $20,000 to $40,000, as a minimum. Many entrepreneurs and small business owners will need loans to contribute to their demands in this new virtual space.

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There will be many legal questions about funding that will emerge from the metaverse. It’s an area of ​​law that has intrigued Tom Ara, a partner at DLA Piper, which has branches downtown and Century City.

Ara advises clients about the future of Web 3.0, or the metaverse. The first iteration of the Internet that some of us might remember was basic web pages and email. Web 2.0 emerged with the advent of social media.

Ara believes that the main questions of the third age of the Internet revolve around how the metaverse will be controlled and how it will be accessed.

“Zoom, Microsoft Teams, this is really a copy of the metaverse,” Ara said. But as the space grows and real money gets in, problems will arise about ‘how to control it in a legal way’.

This should be a safe place for business and consumers.
Brandon Johnson

“People will want to know if there will be a connection between the metrics that different companies have built,” Ara said. “Will you be able to transmit your virtual identity across metaverses? Will you cross the metaverse headphones?”

Many of these questions remain unanswered. In the end, Ara noted, “People want to be where their friends are.”

For entrepreneurs who want to set up shop in the metaverse, gambling is currently all about where their customers will go in virtual reality. But for those who want to take a little risk, there are companies willing to get them in.

“Metaverse Mortgages”

In January, Vancouver, British Columbia-based TerraZero Technologies, which has a US subsidiary in Century City, announced that it had completed one of its first-ever “mortgage loans” with one of its customers in an Ethereum-based metaverse platform called Decentraland.

How it works? Potential customers can go online to the TerraZero platform, and explore offerings and listings, including land size, location, and prefabricated building elements viable in the metaverse of their choice.

“We don’t lend to speculation,” Dan Ritsik, CEO and founder of TerraZero, told the Business Journal. “It’s akin to a small business loan.”
Reitzik explained that his first metaverse mortgage client told him, “This is what I’m going to build and this is how I’m going to make money.”

When the customer signs the mortgage contract, the land’s NFT token (non-fungible token) is held with TerraZero as the registered owner until the loan is repaid based on the agreed terms.

TerraZero grants the client publishing rights, so the client can build in the metaverse, organize events, run digital storefronts, or host an in-house corporate office. Customers make monthly installments until the mortgage is paid, then the entire NFT is converted to
the customer.

TerraZero didn’t reveal how much the customer paid on the down payment or the interest rate, but it did note that it was a two-year mortgage.

Currently, any user can connect a crypto wallet to the Decentraland app and visit the world to search for investment opportunities. The world is full of music venues, parks and casinos.

Ownership in metaverses is limited, and like cryptocurrencies, there is only so much that can be issued, so there is value in their scarcity. However, there is no limit to the number of metaverses that can be built. Both cryptocurrencies and NFTs are volatile assets, but in certain circumstances they have proven to be very profitable. Investors and major companies such as Nike Inc. And Sotheby’s has had some success with sales of NFT and the metaverse.
At the moment, the metaverse is working on cryptocurrency.

In fact, 98% of consumers have never had a cryptocurrency wallet,” said Brandon Johnson, TerraZero’s chief experience officer.

He noted that a way for consumers to use their credit cards would be needed to encourage broader adoption of cash spending in the metaverse.
“This should be a safe place for businesses and consumers,” Johnson said.

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