Blog Technology How to Take Your Money From Fiat to Metaverse

How to Take Your Money From Fiat to Metaverse

date March 27, 2022 time 5 min read 2218 views

At this point, you’ve almost certainly heard the buzz that the metaverse is coming, and the vast implications it’s set to have on how to live, play, and work. It only makes sense that our money will go from fiat to metaverse—but what does that mean for you and your finances? There are a few pieces of this puzzle, and you might just be able to use our MCT token to help pull it all together.

The metaverse era is fast approaching—in fact, some would say that we’re already in the midst of it. Yet chances are that you’re still not quite sure what that means for your daily life or how to shift up your finances to take advantage of potential investment opportunities. You might wonder if it’s time to shift from fiat to metaverse, and you’re not alone.

The world is going from fiat to metaverse, so why shouldn’t you do the same? (Source: Unsplash)

Here’s a clue: MyConstant’s forthcoming MCT token is set to act as a bridge between banking and the metaverse, making it easier for you to manage your assets. To help you understand what that means, we’ll explain how the metaverse itself works, how we may all be making our money there one day, and how to start getting involved. 

Introducing the metaverse

If you’re reading this and wondering how the world will go from fiat to metaverse, it’s safe to assume you’ve heard the term “the metaverse” before. But if you’re anything like the average person, you’d probably struggle to give a confident explanation.

It’s not just you—since the metaverse is still an emerging concept, the definition varies depending on who you ask and how the relevant technologies develop. Besides, we don’t yet have the context to fully grasp what it all means. Here’s our best attempt at an explanation.

What is the metaverse?

The metaverse is a new age of the internet and a way for us to use technology to connect with each other. It’s closely associated with virtual reality, gaming, and cryptocurrencies—but although they’re all likely to form an important part of the metaverse, it’s about so much more than that.

For a long time, accessing the internet meant logging on to your device and clicking from webpage to webpage while remaining firmly rooted in the physical world (probably your desk or your couch). With the metaverse coming into play, many people predict that accessing the internet will mean heading to a separate virtual world where we can have a more immersive experience. That could mean attending everything from work meetings to virtual concerts with friends while strapped into virtual reality, experiencing all five senses in the metaverse.

The metaverse is perfectly suited for blockchain technologies like cryptocurrencies and NFTs, which would provide a way for everything to securely streamline everything. Another key aspect of the metaverse is the ability to transport assets and identities (like your digital avatar) across different parts of the metaverse, and blockchain technology would make this possible. 

Yet, as we’ve said already, the picture isn’t 100% set. The way technology develops over the next few years—how the world reacts to them—will determine exactly what the metaverse becomes.

Still, how about taking your finances from fiat to metaverse?

Making money in the metaverse

Since the metaverse is about more than just a load of Gen Z-ers playing games in a virtual reality environment and could influence all aspects of life, there’s serious potential to make money in the metaverse. Maybe your new office block will be located there.

Investing in the metaverse now will set you up nicely for the virtual future.
Investing in the metaverse now will set you up nicely for the virtual future. (Source: Unsplash)

Some think the metaverse economy could become even bigger than the physical one we have now, and that many of our economic activities will migrate over. For instance, we might attend virtual festivals over Coachella and favor virtual accessories over physical items.

Not to mention that we could end up performing our jobs and leisure activities in the metaverse, making it our new “financial center”. The world already spends $80 billion dollars annually on items in videogames, so we’re not as far from this point as you might assume.

How to invest in the metaverse

When it comes to making money in the metaverse, investments are another promising route.

You can invest in the metaverse by buying NFTs from marketplaces like Opensea or Rarible, or buying cryptocurrencies from projects set to be at the forefront of the metaverse, such as Axie Infinity

Yet, as good as it might sound in theory to make money in the metaverse, it can seem daunting to jump right in when you’re currently still relying on fiat currency. How can you navigate this transition from fiat to metaverse?

Gaming is one of the ways to go between the two. You could earn money through play-to-earn games and then convert those earnings back to fiat, for instance. Or, you could convert fiat money to cryptocurrencies to use in games. Games have always been at the forefront of technological innovation, and they’re continuing to be a way for people to navigate between the two worlds. 

Another is our new MCT token.

Introducing the MCT token: A bridge from fiat to metaverse

As things stand now, the metaverse and the physical world exist as very separate places with separate rules—meaning that going from fiat to metaverse with your money isn’t easy. At MyConstant, we’ve done our best to make this easier with the introduction of the MyConstant token.

Wondering how to invest in the metaverse? The MCT token could help. (Source: MyConstant)
Wondering how to invest in the metaverse? The MCT token could help. (Source: MyConstant)

The MCT token offers low transaction fees for converting between 70+ currencies, after which point you can use your funds to borrow, buy crypto or NFTs, or lend to others in exchange for returns. Plus, we use a peer-to-peer financial ecosystem to run everything, and give token holders the chance to stake and vote.

The ease of switching between the currencies will make investing in the metaverse much easier. Crypto investments offer better rates than conventional savings accounts most of the time, but you need to know how to set up crypto wallets, navigate exchanges, and more. The MCT token is far more accessible. Plus, owning it is an investment in itself since the crypto could increase in value. 

Join the metaverse with MyConstant

At MyConstant, our metaverse-related offering doesn’t end with the MCT token. We’re also giving out NFTs and guiding how you can score NFTs as rewards when you reach certain milestones.

We also have a range of cryptocurrency and USD products that help you take your crypto further and earn interest on crypto up to 7% APR,  or you can deposit your crypto in our multi-cryptocurrency wallet (and even earn interest on stablecoins).

Other benefits of our platform include:

  • 24/7 customer service.
  • Rates as low as 6%.
  • Early repayments for lower rates.
  • Instant matching.
  • Store and borrow against over 70+ different cryptocurrencies.

Sound good? Sign up today and receive a $4000 bonus now.

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George Schooling

George Schooling

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