Metaverse — The Future of Reality
What is a metaverse and why is everyone talking about it? Is metaverse the future?
The internet has become embedded in every aspect of our day-to-day lives, changing the way we interact with others. Communication opportunities are created through social media where virtual environments have become very popular during the pandemic. In metaverse environments, people can wander around with friends, visit buildings, buy goods and services, and attend events. Metaverse refers to a shared virtual world where land, buildings, avatars and even names can be bought and sold, often using cryptocurrency.
Metaverse has started getting very popular during pandemic lockdown for both business and pleasure. The use of cryptocurrency and non-fungible tokens (NFTs) allow digital assets to be built, owned and monetized. Metaverse has platforms like Decentraland and The Sandbox that allow people to purchase virtual land and buildings.
Non-fungible tokens (NFTs) are one of the virtual assets that fueled the growth of metaverse. They represent intangible digitals such as images and videos that are to be traded as a digital asset. A digital-only artwork “Everydays — The First 5000 Days” by American artist Mike Winkelmann, known as Beeple, was sold for nearly $70 million at Christie’s in March in the first ever such sale by a major auction house. While metaverse platforms provide free accounts for people to buy and trade virtual assets, some use cryptocurrencies. There are platforms that require Ethereum-based crypto tokens such as MANA for Decentraland and SAND for The Sandbox to buy and purchase virtual assets.
PWC forecasts AR technologies will deliver a $1.5 trillion boost to the global economy by 2030, compared to $46.5 billion in 2019. Technology firms are jumping into this space with Facebook, Google and Microsoft investing in cloud and VR companies for growth.
Metaverse truly replicates real life where people can meet up for business or recreation. Facebook announced in July that it was creating a product team to work on a metaverse to be used for people meeting virtually.
Another of the metaverse apps is the DIVE — Soul Metaverse, where one interacts with others on a soul basis in finding new friends or serious relationships. The team at DIVE has a mission to let people interact in fun soul games to explore their self-expression and creativity through role-playing, cosplay and other games and quizzes. Lots of fun, deep and meaningful interactions are possible that way in creating the metaverse experience. You can follow DIVE — Soul Metaverse at https://discord.gg/EzUzAe3Y for their upcoming launch.