Watch the CBS Reports documentary “Welcome to the Metaverse” on the video player above. It premieres on CBS News on Sunday, March 27 at 8pm, 11pm and 2pm ET.
The metavers has recently become a buzzword in the world of technology and beyond. It represents a further migration from the real world to a digital reality, and is also a place where users can own their virtual assets through the blockchain. Blockchain, the underlying cryptocurrency technology, is a digital record that records transactions and securely tracks digital assets.
In the metavers, these assets can be digital art, video game characters, and even virtual terrain plots, which have seen valuable meteoric rises in the last year. In November 2021, Decentraland virtual world land was sold for $ 2.4 million.
Some of the first adopters of metavers are making fortunes in real life in the virtual world, though not without risk.
Kevin “KevinOnEarth” Clark
Kevin Clark says he was first attracted to the metavers after being separated from the world during the COVID-19 pandemic. Clark used the metavers to reconnect with people and go to virtual events while much of the real world was closed.
“It simply came to our notice then.
Clark first bought land in Decentraland in late 2020 for $ 700. Today he says it could be sold for more than $ 20,000. Clark used his land to build a metavers news station. His show, “The Decentraland Report,” airs live on Twitch. Its aim is to tell the stories of the first adopters of the metavers and to document the history of Decentraland.
“I said, I’m the Decentraland journalist here on the scene,” Clark says. “I showed up somewhere, started interviewing people, and just asked, ‘Why are you here? What was your inspiration?’ And from there, only people in the community said, “I also want my story to be told.”
Jaiden Stipp
The digital assets that help form the metaverse are known as NFT, or non-fungible chips. Each NFT is a completely unique digital asset, unlike bitcoins, which are interchangeable. An NFT can take the form of virtual land plots, music or digital art.
Jaiden Stipp, 15, began making art in July 2020. His all-digital work was inspired by Nintendo and video games like Kirby. In February 2021, less than a year after it started, he decided to “coin” one of his pieces: converting a digital file into an NFT.
“I didn’t even know what an NFT was at the time,” he recalls. “I coined it because I thought it was great, you know.”
Stipp hoped his piece could be sold for $ 50, but in two days the bid was already in the hundreds. His piece caught the attention of FEWOCiOUS, one of the most popular artists in the NFT world. FEWOCiOUS made a public tender for Stipp’s work, which caused the price to skyrocket. It eventually sold for 20 Ethereum, then valued at more than $ 30,000. Stipp minted four more pieces that week, and each NFT sold for more than $ 30,000.
“I have no idea how much money I’ve made over the last year, all I know is that it’s definitely over a million in sales,” Stipp says.
Brenda Gentry
After growing up in Kenya, Brenda Gentry spent more than a decade working as a mortgage insurer for USAA. He says he loved working there, but wanted more than the traditional 9-5 job.
“A friend of mine from the bank retired last year,” Gentry said. “And she kept saying, ‘Hey girl, keep it up. You have 20 more years left.’
Gentry’s daughter, Cynthia, studied computer science in college and became interested in blockchain technology.
“My daughter goes to college and says, ‘I don’t like computers, Mom. I don’t like computer engineering, “Gentry said.” Now we’re talking about a different technology. Let’s talk about blockchain. And it turned into a conversation where every time I talked about it, it moved me. “
He followed his daughter into the world of digital assets, buying cryptocurrencies and NFT and developing a social network like “Cryptomom”.
Gentry soon became involved in consulting Web3 products – Web3 is the very promoted the next phase of the Internet, including innovations such as NFT and cryptocurrency, and advising NFT creators on how to launch products. After 15 years in banking, Brenda was able to quit her job and, along with her daughters, start Gentry Media Productions, an NFT marketing company.
“Before I got into crypto, I was earning about $ 4,000 a month,” Gentry says. “[Now on] As for investing, I’m doing well, where I’m like, eh, seven figures here in a bit. But yeah, I’m doing it right. I’ll just say that. “
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