How Will We Pay for Things in the Metaverse?
How Will We Pay for Things in the Metaverse?
Although it is still largely undefined, many envision that the metaverse will be an immersive, virtual world where people will be able to shop or attend meetings or entertainment events in the metaverse, and it will all seem lifelike.
There is, however, one thing we can say for sure: The metaverse will not be a success without a reliable, trusted, and easy way to pay for products and services.
Either way, payments will be key to creating a virtual “world” worthy of the name. The big questions are: Will a single currency emerge for all transactions? And what might that currency be? Dollars? Crypto? Right now, payment methods in metaverse-like environments are heterogeneous.
But whichever system or systems are created, forecasters predict there will be trillions in value exchanged within the next decade, and the sky is the limit for innovation. To speed things along, governments, banks, and technology companies should come together now to consider how payments and currency will work in this space.
Want to learn how companies can usher in metaverse payments?