🌐Metaverse

Introduction

The connections between the financial, virtual, and physical worlds are becoming increasingly intertwined. The devices we use to manage our lives offer us access to almost anything we want with great convenience. The same goes for the crypto ecosystem. NFTs, blockchain games, and crypto payments are not only available to the most engaged users in the crypto world. They are now available as part of a developing metaverse.

What is the definition of a metaverse?

Metaverse is a concept of online 3D virtual space that connects users in all aspects of their lives. The idea is to connect multiple platforms, much like the Internet, containing different websites accessible through a single browser.The concept was developed in Neal Stephenson's science fiction novel Snow Crash. However, while the idea of a metaverse was once fiction, it is now a possible reality in the future.

The metaverse will be driven by augmented reality and each user will control a character or avatar. For example, you can have a mixed reality meeting with an Oculus VR in your virtual office, finish your work and relax in a blockchain game. Then you can manage your crypto portfolio and finances, all within the metaverse. There are already some aspects of the metaverse in video game virtual worlds. Games like Second Life and Fortnite, or professional socialization tools like Gather.town, bring together various elements of our lives in online worlds. Although these applications are not the metaverse, they have similarities. The metaverse does not yet exist, in fact. Besides support for games or social networking, the metaverse will combine economies, digital identity, decentralized governance, and other features. Currently, the creation process and ownership features of valuable items and coins, help develop a single, unified metaverse. All these features provide blockchain with the potential to power this technology in the future.

How does the crypto sector fit into the metaverse?

Games provide the 3D aspect of the metaverse, but do not cover everything needed in a virtual world to encompass all aspects of life. The cryptocurrency industry can provide other essential parts, such as digital proof of ownership, value transfer capabilities, governance, and accessibility. But what does this mean, exactly? If we are going to work, socialize, and even buy virtual items in the metaverse in the future, we will need a secure way for proof of ownership. We also need to feel secure when transferring items, goods and money through the metaverse. Finally, we also want to play a role in the decision-making that takes place in the metaverse, since it is supposed to be such a relevant part of our lives.

Some games already contain some basic solutions regarding these features, but many developers use cryptocurrencies and blockchain as a better option. Blockchain technology provides a decentralized and transparent way to handle topics. Game development is a more centralized activity.