‘The hype that won’t go away’

Johannes Weissenbaeck , Founder & CEO of OXO Living , a Bali-based boutique property developer , gives his view on crypto and metaverse.

The main industry driving the current metaverse hype is primarily gaming combined with social networking and DeFi (Decentralized Finance) simply because there is already an engaged tech-literate community who are open to virtual experiences. New areas are of course metaverse retail, e.g. Adidas offering apparel to be purchased in the metaverse and collected in the real world, or metaverse entertainment, e.g. Snoop Dogg holding virtual concerts. Other industries like property will take much longer, because the wider market is simply not ready. Having said that, it will be accelerated with the adoption of newer and better VR and AR technologies.

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