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Into The Metaverse: Everything you need to know about the Metaverse

What is the Metaverse?

I’m sure we’ve all heard about how Mark Zuckerberg renamed Facebook to Meta and introduced it as a hybrid of today’s online social network. But what do we really know about the metaverse?

The metaverse is the concept of an online, 3D virtual platform that connects users in every aspect of their lives. It contains various elements of technology such as virtual reality and augmented reality, and aims to be a virtual universe where users can digitally work, play, interact with their friends, or even take virtual trips around the world.

Who else is invested in the Metaverse?

1. Microsoft

Image Credits: Financial Times

Besides Meta, another giant in the tech world plans on dipping its foot into the metaverse. Microsoft already uses holograms and plans to integrate AR and VR from its Microsoft Mesh platform into Teams. The software company also hope to one day produce VR headsets that could create customizable avatars that will be able to mimic facial cues during video calls.

2. Epic Games

Image Credits: Time Magazine

Epic Games has been invested in building the metaverse through developing photorealistic digital humans with its MetaHuman Creator, where you’ll be able to customize your very own digital doppelganger in future games.

3. Roblox

Image Credits: VG247

Roblox — the online game platform, has recently teamed up with Vans, a skateboarding shoe company, to build Vans World. Vans World is envisioned to be a virtual skateboarding park where players can accessorize and dress up in Vans merchandise. In addition to this, Roblox has also opened a limited Gucci Garden where users can purchase clothing and accessories for their virtual selves.

How does crypto fit into all this?

Image Credits: The Jarkata Post

1. Digital proof of ownership

Crypto and blockchain technology offer users in the metaverse a secure way to show digital proof of ownership and establish a digital identity when purchasing virtual items. This allows users to feel safe when transferring objects and money around the metaverse as it’s decentralized and fosters transparency.

2. Digital collectability

As the metaverse aims to incorporate more immersive and real-life activities, the concept of NFTs becomes even more appealing. As digital objects that are entirely unique and cannot be replicated, a blockchain can represent ownership of physical items.

3. Transfer of value

Crypto offers players reliable currency that trumps unsecured in-game currencies.

4. Accessibility

Unlike a bank account that requires payment or personal details, digital wallets are accessible to anyone on public blockchains, making it a convenient and easy way to manage finances online.

Conclusion

Although the metaverse still has a long way to go, many are already planning for its development through innovative creations. Zuckerberg believes that the Metaverse could replace the internet. What do you think?

Content by:
Jae-Lyn / Aspiring Writer

About Coinstore

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