Crypto101: What is MetaVerse?

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Metaverse

The Metaverse is an increasingly popular term for a future internet where virtual reality plays an important role. It’s likely that the Metaverse will be the final phase of the internet as we know it.

The Metaverse was first coined by Neal Stephenson in his 1992 cyberpunk novel, “Snow Crash”. The novel conjured a dystopian future where people go into a simulation and exist as avatars

Today, many games that you play include your avatar and MetaVerse is taking that one step further. MetaVerse is different in that your avatar would walk around the Metaverse, communicating with other avatars. An online MetaVerse allows you to play games with friends from all over the world, go shopping and even attend school.

MetaVerse is a term that is often that describes alternate realities. MetaVerse, Inc. has been on the forefront of creating MetaVerses for both entertainment and education since 1995. It also has a pathbreaking Metaverse platform that is currently being developed and will be available to the public in a MetaVerse of MetaVerses.

The Shift to the Metaverse

Metaverse is a parallel universe that behaves a lot like the real world. Just like in the 2018 sci-fi film “Ready Player One,” the film’s protagonist immerses himself in a dazzling virtual reality universe. Using his headset, representing present-day Virtual Reality goggles, he escapes his bleak life into a virtual one where he can do and be anything he wishes.

For this reason, tech giants like Google, Microsoft and Facebook predict that a virtual reality universe is the future of cyberspace technology. This is slowly being fueled by implementation of metaverses like Decentraland that enables anyone worldwide to buy and sell virtual products like land, estates, and avatar wearables in a decentralized 3D virtual reality platform. 

How Does it Work?

Essentially, you will need to log on to the Metaverse just like you would on the Internet. An example is by using Facebook’s head-mounted goggles and motion tracking wristbands designed for virtual reality.

Ideally, a full metaverse experience will need several tech companies working together like the companies dominating online content today. Moreover, the merging of virtual reality with augmented reality to create avatars that can move between platforms like you would on a website or app which will prove to be phenomenal.

As a result of which avatars can fundamentally walk inside of a massive communal cyberspace world, jumping from one activity to the other, and interacting with people around the world.

Opportunities for NFTs 

Today, people are spending more time on virtual spaces than ever before. From Fortnite to Animal Crossing, immersive virtual worlds inspire lasting virtual relationships. It has also made possible buying and selling of virtual products, and competing for scarce resources on distinct virtual ecosystems. 

MetaVerse

With a record of ownership and scarcity, it’s difficult to produce fake products in the Metaverse. Additionally, the blockchain technology ensures that every virtual asset is unique with an official certificate from its owner proving authenticity.

In addition to this, the Metaverse is a virtual online world that exists within the confines of our own with transactions between users are public and authenticated with the blockchain technology protecting user from real life scams.

Where are Metaverse NFTs Sold

If you are looking to buy Metaverse NFTs then Decentraland is your best bet. It provides a decentralized 3D virtual reality platform for buying and selling digital collectibles in the virtual world. Some of the collectibles Decentraland sells include; wearables, land, estates, and avatar names among other collectables..

These products will increase in value as we draw close to fully actualizing an immersive metaverse. Recently, an NFT of a 259-parcel virtual estate sold for over 900,000 dollars. 

In conclusion, the Metaverse promises to drive the current digital economy into a new era. It will take massive advancements in; virtual reality, augmented reality, and blockchain technology to make sure the world is fully ready for its coming of age.