Discover the next revolution of the web 3.0, supporting decentralized, online 3D virtual environments.
What is the Metaverse?
A metaverse is a new technology that enables users to live in a digital universe. Oftentimes, metaverses are a combination of different techs, such as virtual reality and augmented reality. The virtual world gives the users a sense of reality to meet other real users through the platform.
Presently, there has been a lot of buzz on metaverses. Firms like Facebook want to revolutionize technology. So, unlike our actual reality, which is the real world, you can only access the metaverse through technology. Both worlds exist side by side and will continue existing even when you are not active.
The metaverse phenomenom is closer to us than we really expect as it is basically a world where your digital persona can live and interact in. That digital persona or avatar is then able to live and interact with other people’s avatars in the virtual world. To a certain degree, younger generations have been doing this already with video games such as Roblox and Fortnite, but Virtual and Augmented reality provide a more engaging opportunity and world where the experience is enhanced.
VR and AR are important technologies to support the development of the metaverse and it will expand to many uses such as remote jobs, sport events viewing and music concerts. We get closer to a virtual reality.
How does the economy of the metaverse work and how do NFTs work in tandem within it?
NFTs or Non-Fungible Tokens make an important part of the metaverse as they relate to the digital assets of the metaverse and their valuation. The metaverse already rpesents ways for people to showcase digital assets such as art, accesories and properties as we’ve seen with companies such as Nike (article), Adidas (article needed) and Samsung (article needed). NFTs become an optimal proof of ownership of all different assets in the metaverse, in other words, NFTs are your deeds. One recent use (as seen on CEEK) is as tickets to specific events that people can enjoy inside the metaverse, NFTs as a means of proof of ownership are opening the gates to many markets and industries such as virtual apparel and virtual realtors.
More than virtual reality
There are issues that need to be addressed before the metaverse can take on a broad global meaning. And one of the problems is the "virtual" part of this universe. While virtual reality is considered a key component of the Metaverse, entry into the Metaverse is not, and should not be, limited by the presence of a VR headset. In a sense, anyone with a computer or smartphone can access the metaverse.