How Forex Brokers Can Tap the Metaverse Ahead of Competitors

Metaverse companies were boosted by renewed interest in the virtual space. Forex Forex Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Foreign exchange or forex is the act of converting one nation’s currency into another nation’s currency (that possesses a different currency); for example, the converting of British Pounds into US Dollars, and vice versa. The exchange of currencies can be done over a physical counter, such as at a Bureau de Change, or over the internet via broker platforms, where currency speculation takes place, known as forex trading.The foreign exchange market, by its very nature, is the world’s largest tradi Read this Term brokers have yet to capitalize over the potential advertising space the metaverse is offering.

Head-diving into virtual waters may appear intimidating, but it is an untapped space that is likely to become overcrowded in years to come.

In a study published earlier this year, Citi estimates that 'the total addressable market for the metaverse could be between $8 trillion and $13 trillion by 2030, with total Metaverse users numbering around five billion.'

Citi added that the metaverse may be the next generation of the internet as we know it today.

Renewed Interest in the Metaverse

HTC announced that it is launching its very own metaverse smartphone, nicknamed the Viveverse phone. On 28 June 2022, the smartphone will make its debut.

source: Twitter

The phone is scheduled to debut on Tuesday 28 June.

A direct integration to Viverse is a smart manoeuvre, which may lead other companies to follow suit with other platforms. Gateways to various platforms may be provided to the highest bidder. Additionally, HTC’s Vive headset may be integrated into the smartphone.

TIME Magazine's Metaverse

TIME magazine realized the potential in the metaverse by recently announcing it has partnered with The Sandbox.

The iconic Times Square will be recreated in the metaverse, which may act as a 'tourists' attraction in the virtual world. Keith A. Grossman revealed the company's goals in the metaverse.

"Our goal is to create a destination that will be the heart of the metaverse. Since launching TIMEPieces in September 2021, we have focused on developing a community in Web3 that benefited from the incredible 100- year legacy and access TIME has established.

"We are thrilled to now tap into that community as we seek to find the architect to design TIME Square in the metaverse, as we create an immersive experience with The Sandbox that provides a natural bridge between the virtual community of TIMEPieces, the historical coverage and global relationships of TIME, the unique IP coming from TIME Studios, TIME for Kids, and our real-lifeIRL events.”

The move into the metaverse may 'force' other companies to show their presence in other virtual lands. It is time for retail forex brokers to dive into the advertising space in the metaverse. Being a pioneer in the digital world has many benefits including a greater exposure.

Below are several advertising methods both forex and crypto brokers may adopt to further improve their brand awareness.

Metaverse Land

The most popular method is acquiring virtual lands. The broker may build its own office/tower/mall using its brand. As more users populate the metaverse platform, the greater exposure the broker will receive.

Advertising competitions, contests or special programs may be announced in the virtual world as well as offering customer service in real time.

Launching a forex trading academy in the Metaverse with NFTs acting as certificates may garner great attention from forex traders across the world.

Choosing the metaverse platform that will provide superior results is challenging. There are numerous metaverse platforms to choose from, some are still under development.

TCG World 2.0

TCG world aims to deliver a metaverse platform in 4k. TCG World have already raised the interest of several companies. GGTOOR, a company in the eSports space since 2020 acquired 2,145 parcels (virtual land) in TCG World.

The purchased parcels include 4,144 properties in TCG World, branded as GGTOORCITY. The size of the deal is estimated to be worth $102,300,000.

The parcels were purchased by 'issuing its blank check preferred stock, one share for every parcel purchased' according to the press release.

GGTOOR explained that in TCG World, if you own a car you can drive it through the city. If you own a golf course, you can play inside it. This is as opposed to some of the well-known metaverses.

Earlier this year Curzio Research Inc purchased 19 real estate properties in the Asian sector of TCG World for $5 million. Curzio VIP clients can meet with investors, attend conferences, listen to podcasts and more.

Moreover, Gamium is ranked among the top metaverse projects in the industry.

Metaverse Cities

Smart cities is a concept that is beginning to pick up pace. The Catalonian Director-General of Innovation, Daniel Macro revealed that Catalonia is working on a Catalonian metaverse, dubbed as Cataverse.

"Cataverse will be linked to the Catalan language and the Catalan culture," said Marco. "That is what we want to have in this metaverse, that Catalan entities that are doing things for the culture can do that in the metaverse.”

Further, Catalonia is working on integrating personal health and public transport into the blockchain Blockchain Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Blockchain comprises a digital network of blocks with a comprehensive ledger of transactions made in a cryptocurrency such as Bitcoin or other altcoins.One of the signature features of blockchain is that it is maintained across more than one computer. The ledger can be public or private (permissioned). In this sense, blockchain is immune to the manipulation of data, making it not only open but verifiable. Because a blockchain is stored across a network of computers, it is very difficult to tamp Read this Term.

Advertising in similar metaverse cities may also be more cost-effective compared to advertising in the real world.

Metaverse Events

Sponsoring an event or musical concert in the metaverse is a powerful commercial tool. The PR that could be obtained may ripple throughout the markets.

A private event may be held, accessible solely to the broker's customers. Educational courses, panels, promotions, the possibilities are endless.

The pride parade that took place in New York will also happen in the metaverse, Decentraland and the Sandbox. By being an active partner in parades or online events may be just as powerful as advertising at the Super Bowl.

Ceek VR and Animal Concerts

Both companies offer virtual venues for artists. A sponsored event at these platforms may have the desired impact and registrations. New platforms constantly surface from time to time.

Partynite.io, for example, is a metaverse platform primarily for the Indian market.

Metaverse Avatars

Forex brokers can custom design avatars and clothing lines with their brand. Imagine in a +800,000 crowd in the metaverse an avatar with your broker's name walks the city, awarding the company a mass exposure.

A custom car can be designed for the metaverse with the brand's logo or even a golf course, virtual billboards, stadiums and more. As it is still relatively new, the first to hop on the virtual platforms may benefit the most.

Each platform is different and offers a unique experience.

Once the US and European regulations (EU crypto regulations may only begin from 2024) are outlined, the financial sector of the metaverse may boom. Various payment methods within the metaverse are already being developed.