Dancing at Decentraland

Without realizing it, we are all prepared for the metaverse. Once we get there, financial companies will have to be smart to get our attention.

In preparation for my Metaverse debut tonight, I’m getting a sneak peek at Decentraland, having already signed up for an account and equipped my avatar. But rather than worrying if I’ve picked the right sneakers to dance to, I’m aware that my avatar looks awkward, pausing between steps as other avatars elegantly pass by.

Indeed, Decentraland is still blockchain-based and, unlike Roblox and Fortnite, does not use a game engine. “We are only at the beginning”, Metaverse enthusiast Martha Boeckenfeldsaid.

The Metaverse is no longer just for gamers. In fact, “now that we’ve all gotten to grips with video chats during COVID,” we might be ready to take it a step further and socialize with each other virtually, says Boeckenfeld, who previously ran digital platforms and chat rooms. UBS market in Switzerland. Perhaps holding meetings at a metaverse restaurant or cafe could help combat our Zoom fatigue.

Snackable content

Netflix also leads us there, offering us content personalized to suit our tastes. While Netflix content is always generated on a platform, metaverse content will be generated by communities.

The important thing is that we don’t want “any more content dumped on us,” says Boeckenfeld, citing the example of bank research reports. In the metaverse, banks will learn how to make content “snackable” and easier to consume, she says.

entry points

Blockchain-based tokenization of non-bankable assets is another entry point. But essentially, all existing services in the real world need to be mirrored in the digital world and, of course, “everything in the metaverse needs to be funded,” says Boeckenfeld.

And just like in real life, the mortgage loan is a huge opportunity in the virtual world. Decentraland, which is powered by the Ethereum blockchain, has a market capitalization of $4.4 billion, according to CoinMarketCap.

In partnership with two other companies, Zurich-based GenTwo is luring investors into virtual spheres with an actively managed certificate (AMC), where the underlying assets are non-fungible tokens (NFTs) tied to digital real estate in the metaverse.

The certificate is managed by Criptonite Asset Management. NFTs, like the shiny cape I’ll wear later, are designed by Exclusible, a company that makes digital products for luxury brands.

Wearable Accessories

“Clients invest primarily in real estate, like an asset manager or a pension fund,” says Boeckenfeld, who sits on GenTwo’s advisory board. Each certificate has a Swiss International Securities Identification Number (ISIN), adding a real-world feel to the product.

Since professional investors invest on behalf of their clients, it’s “much better to have something they know,” she says. These institutional customers will celebrate the AMC launch of GenTwo at a party at Decentraland with a live DJ.

My sparkly cape, which Boeckenfeld says makes me look like I’m wearing a diamond, should make up for my klutzy dance moves. Other guests will wear one too. “Getting a laptop is the fun part, the next thing should be building a community,” she says.

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