SINGAPORE, SINGAPORE / ACCESSWIRE / December 2, 2021 / PDX Coin (www.pdxcoin.io) today outlines how its crypto-to-fiat instant payments and virtual banking platform being developed by PDX and its technology partner, Unified Infotech (www.unifiedinfotech.net), will easily enable payments in the metaverse.
The 'metaverse' is the rapidly emerging immersive 3D evolution of the traditional 2D screen-based internet, giving today's 4.7 billion global internet users an improved and, eventually, hyper-realistic experience which will duplicate and enhance the real world, creating a vast parallel economy predicted to be worth tens trillions of dollars in the coming years. Investing in this space today has been compared to investing in the internet Web 1.0 in its early days.
The evolution of the current 2D internet into a hyper-realistic 3D user experience opens massive commercial and content opportunities while still requiring real-world payment ramps that now must be blended into the immersive metaverse experience:
- Consumers and businesses are expected to be purchasing and using products and services in gaming, gambling, sports, shopping, education and training, and entertainment venues.
- Business use such as holographic conferencing and industrial design will also need payment options.
- Apparel and luxury goods firms are already offering digital versions of products for metaverse use and experiences. The virtual luxury goods market is predicted to be at least $50 billion annually in the metaverse, with companies like Valentino and LVMH already exploring these opportunities and designing and selling products.
- Some companies are even selling high-priced digital 'real estate'
In the metaverse, traditional payment methods are not suitable, and crypto-based payments will be the standard. In the real world, payment systems such as debit and credit cards take days for a transaction to settle and carry very high costs for merchants. Alternatively, cryptocurrency payments and the blockchain are the ideal ramp for metaverse payments due to their digital attributes, superior security, and ability to verify on an immutable ledger.
PDX, led by a highly experienced management and technology team across several continents, will enable easy payments in the metaverse without disrupting the flow of the experience. PDX Coin, the platform's native token, begins trading on leading crypto exchange p2pb2b.io Dec. 15 with more exchanges listing the asset in the new year.
'Whether you are purchasing designer clothes for your avatar, buying music in a virtual store, or playing in a virtual 3D poker game, you will want to do so without having to exit or being distracted in the virtual environment,' said Shane Rodgers, CEO, PDX Global. 'You won't use a keyboard or swipe a credit card - it's clumsy and it's disruptive to the continuity and integrity of the experience. Instead, you'll interact in the environment using gesture controls and voice commands.'
'Eventually, and in the maybe not too distant future, you will use your direct thoughts to navigate your way around and use the metaverse. This also extends to how you'll navigate and interact with the PDX payments app in the metaverse. Until that time comes, you'll utilize our payments and banking apps through voice commands and gestures,' continued Rodgers. 'When you summon the app, a 3D visual representation of it will appear, and seem to ‘swim' in front of you.'
As part of its crypto-to-fiat payments and banking platform, PDX will enable direct payment using not just the native PDX Coin token, but also many of the other most liquid and widely held cryptocurrencies, which will also be hosted on its app.
Said Rodgers, 'Transactions in the metaverse will all be peer-to-peer payments that render wholly obsolete the slow, clumsy, and expensive traditional payment platforms. Bye bye Visa, Mastercard, monthly ‘technology fees,' acquiring bank fees, and good riddance PayPal. The benefits include instant settlement to the merchant or vendor in whichever currency they prefer to be paid in, minus the high transaction fees and other added charges today that are split between too many unseen parties in the middle, and with the elimination of the risk of card fraud, including chargeback fraud.'
About PDX COIN
PDX Coin is at the core of a global payments and digital banking platform being built as a financial on-ramp enabling hundreds of millions of retail users, institutions, merchants, vendors, and ecosystem partners to participate in the crypto economy freely and easily with instant conversions between digital and fiat currencies, and very low fees. The upcoming payments app and virtual banking services will enable all major cryptos that are supported by the platform to become instantly liquid, and spendable in potentially tens of millions of locations and online sites globally. PDX is developing products and services across the DeFi and NFT spaces, and also plans to introduce by 2024 a regulated platform to trade digital shares of most publicly held companies globally, 24/7, as well as new underwritten digital share placements by those companies, taking into account the required compliance and registration requirements of the many and various global regulatory regimes. For more information, visit www.pdxcoin.io.
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SOURCE: PDX Coin
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