Skeptics argue that no one knows what the metaverse is.
Siu is from the same area.
Wall Street is very excited about the metaverse, with investment bank Jeffries being the most optimistic.
The metaverse is an investment opportunity similar to the early days of the internet, according to Richard Powell.
"All human activity that hasn't moved online is about to move online in the next five to 10 years," he said.
Powell spoke to CNBC's "Worldwide Exchange" on Friday, after a research note was released by Jeffries saying the metaverse will be the biggest disruption to how people live.
The term metaverse refers to a wide range of virtual worlds, in which people useavatars to play games, watch virtual concerts, work, build things, and even buy and sell NFTs.
Facebook changed its name to Meta in order to focus on the metaverse. The move spurred interest in the idea among investors.
Powell said investors should think about investing in the metaverse as if they were investing in the early internet. It means first focusing on hardware providers, then on software providers, and finally on companies that actually operate inside the technology.
What did you want to own from 1989 to 2000? You wanted to own the world's largest company. He said that the same is going to happen for the metaverse.
Powell said that the push into virtual worlds will require a huge amount of computing power.
He recommended that device manufacturers make virtual reality headsets. He said it was all about infrastructure for the next few years.
Universal Music Group is partnering with Genies to make digital avatars and Wearables.
There are plenty of skeptics who argue that it's too early to say if the idea will become a major part of everyday life.
Jon Jordan told Insider that no one knows what the metaverse is. I would call it a metaverse.
Jordan said that investing decisions about the metaverse are difficult.
Powell said it's not certain whether the metaverse will be dominated by the likes of Facebook/Meta or by virtual worlds such as The Sandbox or Decentraland.
Virtual land, in which users can create and sell their own items in the form of NFTs, have recently been attracting a lot of attention, with virtual land selling for millions of dollars.
Business Insider has an original article.
