Wages in the metaverse will be 50% higher, says study

A recent study by the firm Metapro Academy suggests that in the metaverse, workers will have more and better opportunities. Contrary to what one might think, the demand for jobs will not be limited to people with extensive programming and technology skills. Apart from these, labor will be needed in almost all business categories.

The metaverse is seen by some as a parallel digital world and by others as a virtual extension of the real world. Whichever view is correct, where there is no room for interpretation, it will mean a revolution in every sense of the word for human society. From an early age, people will have to adapt their social being to this new reality.

As this technology advances, the new generations will be hybrids between the two worlds (material and digital). But at a certain stage of development, most of people’s bio-time will be consumed within the new digital life. These future prospects can be interpreted in such a way that investing now in this technology can be a wise decision.

The dimensions of work in the metaverse

The metaverse will not only employ experts in computer science, programming, mathematics and related areas. Although they will be a particularly privileged class, this does not mean that the digital world will be exclusive to them. According to the aforementioned study, which analyzed more than 150,000 job offers, the virtual world “will affect all sectors”.

This means that everything from history teachers to tour guides and lawyers will be in high demand. The headquarters of many companies on the various platforms will need to be competitive, so they will need highly capable multidisciplinary teams. Workers will not need much experience other than basic knowledge of decentralized finance or NFT.

It is noteworthy that when the platforms of the new digital world are active, the new generations will have no major problems in adapting. The digital natives of the so-called Z generation and a large part of the millennials will be the majority of the workforce. They are currently the ones who have more knowledge about these technological forms that are emerging.

Thus, in a decade or two, workers will see life in the metaverse as commonplace. Likewise, as the workforce and consumption move there, so will millions of brands. The metaverse will not only mirror the real world, it will create its own dynamics and, in many cases, will have nothing at all to do with the processes of the material world.

A revolution bigger than the Internet

Just as the Internet altered social aspects that until 2000 were assumed to be strictly physical, so too will the metaverse. For example, the network changed the ways of doing research, moving academics from physical journals and libraries to screens. Many physical research centers had no choice but to adapt and create their websites.

The same can be said of social communication and advertising with the emergence of blogs and later social networks. Now, millions of people are informed by cell phones and the purchase of printed newspapers is being relegated to older people. Televisions are now interactive and have left behind the old one-way boxes. All this, thanks to the Internet.

If this was a major revolution, Metapro considers that these changes are minimal compared to what the metaverse will bring. In this sense, it will not be long before the trainers of the profiles that will be demanded by the platforms of the parallel digital world (or extension of the physical world) begin to appear.

One of them could be social e-commerce. This is a modality in which products will be traded in a mixed way in the real world and in the digital world. In these stores, avatars representing people could buy clothes, perfumes or digital glasses for their avatars and their physical world counterparts.

Other professions to work in the metaverse

By saying that the digital world is a kind of reflection of the real world, it does not mean that it will be an exact mirror. Consequently, the former will have particularities that do not exist in the latter. The digital world would be composed of multiple metaverses according to the technological company that creates them. In other words, the worlds will be extremely abundant.

Therefore, the profession of tour guide, to guide the avatars in the different dimensions and platforms, will be essential. Professionals in this area will have to be very knowledgeable about all platforms. There will also be guides for particular platforms. In short, it will be a thriving industry that will require an abundant workforce.

“The range of professions in the metaverse will be broad and will group workers ranging from technology to simpler areas such as vendors of products and services for avatars.”

Advertising professionals who design exclusive strategies for avatars will also be needed in the metaverse. In the same order, abundant personnel will also be required for fashion design and cosmetic care to attend to the avatars according to the needs of the person behind them.

Investment advisors and the aforementioned lawyers will also be needed. Businesses and consumers will inevitably have problems. In that sense, experts from the legal field will be required to take on the corresponding tasks. These would probably function in a similar way as they do in the material world today.

Other professions that are likely to have a place cannot be left unmentioned. These include cab drivers, salesmen and even nightclub workers.

Education for avatars

Educational institutions of all levels will also have a presence in most digital platforms. Thus, the demand for teachers will be high. The same can be said for language training institutes. These would be necessary for a technology that promises to be the realization of globalization in a pure form.

“The metaverse, blockchain and Web3 will bring about a revolution in the labor market in all sectors, making them more multidisciplinary, flexible and with better remuneration thanks to the value that companies would generate in this new reality,” the study indicates.

There are already initiatives to teach classes in the metaverse. One of them is the startup Educa360. In a study carried out by elespanol.com provides important details of this project, which is already gaining ground in some Spanish administrations. These include Andalusia, Galicia, the Valencian Community, Madrid and the Canary Islands. In addition, the project is looking to expand into Latin America.

Although there are no clear parameters as to what the national regulations will be like, it is certain that the metaverse will have a great impact on the education of future generations. Many people will have the opportunity to attend classes in universities in distant countries and attend lectures by specialists with no other intermediary than their avatar.

The possibilities and access to knowledge seem to have no limits within the new technology.

A salary 50% higher than in real-world jobs

Working in the metaverse is likely to resemble what is known today as remote work. But that doesn’t mean it will be identical, since the person could stay at home, but not always their avatar. Also, there is the likelihood that employees will have to travel to company offices to access expensive connectivity devices.

Regardless of all this, the study assures that what is undisputed is that salaries will be better. And we are not talking about simple differences, but about 50% more income for workers. This could make the difference between people who choose to become professionals and are in the dilemma of opting for one of these two worlds to work.

If working in the metaverse generates a better income, a massive migration of people to it is to be expected. The Metapro study highlights that some jobs could pay up to $250,000 per year. In the worst-case scenario, employers would have to pay 50% more to their workers, as education is a major investment for the latter.

One aspect to note assumes that most of these platforms, at least the decentralized ones, will pay in cryptocurrencies and tokens. This opens a transcendent issue that has to do with the future of digital currencies. Currently, critics of digital currencies claim that their days are numbered, but the role that cryptos will play in the metaverse could indicate something very different.

The reinforcement of the D generation

A key aspect of the whole reality that is being created with the move towards the virtual world is the development of generation D. This is the people who decided to abandon the traditional centralized work schemes. The salary and economic life of people until then revolved around a company and a bank.

Generation D, (D for Decentralized) has chosen to break away from that dynamic and has focused on “zero loyalty” to companies. Similarly, the payments they receive are in the form of digital currencies and a large part of their salaries are invested in DeFi platforms. In this way, workers create their own retirement plans, vacation plans and more thanks to multiple financial products.

In the metaverse, this generation would be of fundamental importance and would mean a break with the dependence tied to the state and banking. The high demand for skilled workers allows them to set the salary conditions and ensures that leaving does not affect them in a particular way. With the new technologies, workers are moving towards a state of empowerment that would make the promises of the communist manifesto or the anarchist movement pale in comparison.

The current advance of the D generation is visible in phenomena such as the great resignation of the U.S. or the tendencies of young people in underdeveloped countries to work in international companies and receiving salaries in crypto. This leaves their governments out of the equation.

But this whole phenomenon has its port of arrival in the metaverse, where the full maturation of a new trend would be concluded. By that time, work will have changed forever and traditional forms will be viewed by the young with the same awe and curiosity with which feudalism-era labor is now viewed.

In Context

Interestingly, the most effective way to understand the metaverse is through science fiction. For decades now, humanity has been dreaming of a parallel world in which it can make its life. Even before trends like Snow Crash, humans were inventing alternate places (such as the paradises of religions and cults).

But that parallel world is under construction at the hands of technology companies. The road is just beginning, but there will come a time when virtual reality, augmented reality, blockchain, web3, 5G and other technologies will make it possible for the user to put on a helmet or glasses and appear in an artificial world instantly.

Walking around in the metaverse could be similar to video games like GTA, where you can earn money, complete missions and buy property. The difference is that each character you see on the platform is no longer a bot and behind it there is a human being controlling it. Likewise, the money earned or spent is no longer fictitious but real.

Thus, the salesperson behind the counter of the gun store, the one who attends the gym or the character who attends the dealership are avatars managed by real people. They would earn their living by performing these tasks. Although it is too early to know all the details of the metaverses, the technologies that are outlined allow us to have a rough idea.

Currently, there are several platforms such as Decentraland or The Sandbox. Although they are far from being the ideal metaverse prototype, their dynamics are similar to what could be the platforms of the future.

Investing in the metaverse

With all this in perspective, it’s not hard to guess that investing in the metaverse now can pay off big in the future. Despite being at a very early stage of development, there are many ways to be a pioneering investor in such futuristic technology.

From NFTs, virtual parcels and digital currencies to company shares and funds are current options for putting in long-term capital. In this link, you can learn in more detail the 5 ways to invest in metaverses without major complications.

It should be noted that the current bear market can be considered an unrepeatable opportunity to invest. All forms of investment are at low prices, although analysts do not know if prices have already reached the bottom or have yet to fall further.

In any case, the recommendation for people interested in investing their capital in these options is to investigate. If possible, seek professional advice to avoid capital losses, taking into account that investments in new technologies are high risk and tend to be volatile.