One thing about the internet is that it keeps evolving. What is hot today can suddenly become redundant with a new invention. Various big technological companies always risk being obsolete if they don’t keep up with the new inventions.
Still, almost all the inventions first appear in the form of sci-fi. Things like clouds and smartphones all first appeared in science fiction before coming into real life. Metaverse is the next invention that seeks to revolutionise digital interaction.
Here is all you need to know about Metaverse.
What is Metaverse crypto?
The metaverse is a shared virtual universe. It comes together by converging physical reality, virtual reality and the internet. Already, it has been seen in various popular games like Animal Crossing, Fortnite and Roblox. The term comes from Neal Peterson’s science fiction novel, “Snow Crash”, where the characters operate in the form of avatars.
What most futurists expect of the metaverse is to be something akin to the ones portrayed in science-fiction depictions like “Ready Player One.” Even if the technology is still a work-in-progress, it will establish a fully functional virtual world. It will allow users to meet, interact, watch movies, play games and even buy virtual items while they operate as avatars.
The role of crypto in Metaverse
As the metaverse becomes more developed, so does it become clear that it will be powered by blockchain in the form of Non-fungible tokens (NFTs). So far, the NFTs have enhanced virtual materials ownership. You can use them to own in-game items like skins which you can then develop then transfer to other games when you move or sell when more valuable. The same will apply to the metaverse. You will use the NFTs to own digital properties in the Metaverse.
Already some pieces of the metaverse are also in place, even though they are smaller compared to the envisioned metaverse. Upland and Decentraland are examples of these Metaverse depictions. They allow you to own digital property like you would any physical property.
The VR world of Decentraland is currently one of the best examples of functional multiverses. It allows you to have an avatar that you can use to tour the virtual world. You can acquire a license and purchase property from the blockchain land as you like. The properties purchased on the platform all have values in cryptocurrencies which can be converted to fiat currencies.
Enter major technological companies
Like any other revolutionary invention, the major technology companies like Facebook, Samsung, Google, Microsoft, are all looking to be the forces behind Metaverse.
Facebook has assembled a team of executives that works to help bring the metaverse to real life. The company’s CEO, Mark Zuckerberg has always expressed his interest in virtual reality technology, which allows for multitasking and collaboration. He also believes the metaverse will eliminate inequality as the world becomes equally accessible to everyone from any location.
The gaming industry though remains ahead when it comes to the metaverse of crypto. They have already been using the concept for years and will continue supercharging the changes. This explains why games like Fortnite, even though released two decades ago, remain relevant today.
While the crypto metaverse currently remains a work in progress, the entry of the technological giants shows its viability. And if it becomes a reality, blockchain technology will be its powering force.