Metaverse: The new virtual world
I am sure you all are aware of Metaverse? If not. I am here to explain it briefly, maybe the advanced future of the world.
It refers to a technology that will let you socialize, learn and play in ways you cannot just imagine. Metaverse is a combination of two ideas: virtual reality and digital second life. The connections between the virtual and physical worlds have become increasingly linked. The gadgets we use to manage our lives give us access to almost everything in just one click.
The idea of the Metaverse was once fiction, but now it looks like it could be the reality in the coming future. Metaverse means artificially created universe. It will combine all aspects of life in one place. In Metaverse, you will be able to access everything virtually, and it feels like happening in real. It is the next-level technology you can’t imagine.
Cryptocurrency and Metaverse
In the upcoming future, if we work, socialize, and purchase virtual items in the Metaverse, we need a secure way of showing ownership. Several video games already contain essential solutions, but many developers use blockchain and crypto as better options.
Governance- the capability to control the rules of your Interaction with the Metaverse should also be necessary for users. For example, we have voting rights to choose election leaders and government in real life. Metaverse will also need ways to have fair governance, and blockchain technology is already a way of doing this.
Availability- creating a wallet is open for everyone around the globe in public blockchains. You don’t need to provide any details. This is the most suitable way to manage finances.
Transfer of value- Metaverse needs a way to transfer value securely that users trust. If users spend time large amount of time in the Metaverse and earn money there, they will need an authentic currency.
There are plenty of projects and platforms related to the Metaverse. Let’s look at some examples.
Social networking and games in the Metaverse
Not only the game, but it is also an online world that allows users to create a digital replica to explore around the world and can interact with other users irrespective of their location. Second life seems to be an earlier version of the Metaverse where users can connect with the digital world in a shared virtual space. Users can also trade goods and services.
It is a virtual metaverse that admits users to play in and create virtual worlds. In the sandbox, you can buy and sell lands and assets with NFTs. This highlights the growth and popularity of digital currencies in the Metaverse. Non-fungible tokens are mined on the blockchain.
It is a roleplaying game rooted in the Ethereum blockchain and will be released this year. In this game, players need to collect NFTs representing each illuvial. A player in this game has the opportunity to collect in-game items that can be traded on NFT marketplaces.
Metaverse can be helpful for some work, but virtually controlling our whole life can impact our health and mental issues. We cannot sit in front of a screen for a long time. It will lead to health problems like tiredness, eye problems, depression, etc. virtual life and real life are entirely different. Metaverse can cut us off from people like gathering and meeting up. It will make us lazy. Metaverse has its own advantages and disadvantages.
Here are some advantages and disadvantages of the Metaverse
- Metaverse will make things more convenient, and people can invest more to increase their incomes.
- It will be a more advanced way of entertainment.
- Through a virtual environment, Interaction will become easy for people.
- Digital addiction can be harmful.
- Engaging with digital use can experience cravings and urges you to use a digital device when not in use.
- Lose interest in real life and like to spend time in virtual life.
- Excessive use of digital devices is associated with mental health issues such as depression, anxiety, stress, etc.