Metaverse

After Mark Zuckerberg rebranded Facebook to Mate and announced a new project called Metaverse, many people didn’t know what to expect. Now, that Metaverse is here for some time we finally know what it all is about. And if you still don’t know what we are talking about, then this article is made specifically for you.

Introduction + Brief history

The original term “Metaverse” did already appear in 1992. That happened in a science-fiction novel Snow Crash. Another Metaverse was developed for games like Second Life. Also, it is being described as the first Metaverse. Some people stated that the Minecraft and Roblox are something like advanced analog of Metaverse.

Another part of the technology world where the Metaverse was introduced is Virtual reality (VR). The world called Facebook Horizon by Facebook (now Meta) was launched in 2019. After Facebook was rebranded as Meta, Mark Zuckerberg made promise to focus on Metaverse even more and put much bigger effort into developing that idea.

What is it?

Now, to understand the Metaverse we need some definition of what it is. In short, it is a collective virtual shared space. It can also be described as another world that is fusion of physical, augmented and virtual reality. The term virtual world is used because of the possibility of simulating human gestures and human emotions. In Metaverse, you as an individual can communicate with other people by interacting with their avatars. Also, you can interact with various 3D objects implemented in the virtual world. Thanks to these interactions you can talk with your friends, visit different places, attend events or even buy things.

There are almost no limitations to what you can do at all; you can make your avatar look like whatever or whoever you want. It can look exactly like you or it can be absolutely different from your look in real life. Additionally you can have multiple characters which allows you to focus on more things. For example, you can have one for music, an avatar who plays instrument. Other can be made specifically for your sport interactions. Each one of your characters can be made for specific usage and for a certain reason.

What can you do in the Metaverse?

As mentioned above there are endless possibilities of activities you can do in the Metaverse, but just for clarification, we would like to write some of them down so you can shape your own idea of what is possible in this virtual world. As we said, every user has its own avatar(s) and because of that, you can meet up with your friends that are also joint in the world. The social interaction is supposed to be the core of Metaverse, so you should be able to have a meet up with your friend in a virtual café or just have quiet moments with your loved ones or even visit music performances and attend shows.

Another huge part of this augmented reality is the chance of consuming and creating art. You can visit virtual galleries and gaze upon artpieces there. Alternatively, if you want to be a virtual artist you can make some of the art by yourself and enable another avatar to check your work out.

Maybe the last activity worth talking about is the possibility of shopping and selling various things. When we said that the virtual reality should be twin copy of the real world that meant it would also come with basic things you do in real world. Selling and shopping falls under this part. From individuals to companies, there should absolutely normal functioning markets with various goods, which you can sell or buy if you want to.

Companies invested in the Metaverse

Many worldwide companies are already making their investment into the Metaverse. These include giants like Microsoft, Facebook, Roblox, or Epic Games. Facebook has made big improvement with its Horizon Workroom. It should be a new way for office workers to communicate with each other by using VR. In case of Microsoft, it has idea of recreating real world in the Metaverse and making absolutely identical twin in the augmented reality.

Now, Epic Games, which are more focused on the gaming side of Metaverse, made their demonstration of Metaverse with pieces like Fortnite or Unreal Engine. Just by listing these tech companies we can see that Metaverse can be utilized to the last pixel, so in the future we can probably expect massive adoption by other tech firms, but not only from them.

How can you invest in the Metaverse?

For you to get something from the Metaverse, you don’t have to create multibillion tech company. You can invest into the Metaverse from your living room. First thing you’ll need is crypto wallet. You can either connect your existing one or you can create one. After you will be done with your connection you have to purchase specific Metaverse tokens. These tokens are available on most exchanges like Binance or BitFinex. The currently most wanted tokens are MANA, SAND and AXS.

If you don’t want to invest in tokens you can invest into land in Metaverse. For that, you need not only your wallet but also you must have the account in the game where you want to purchase said landplot. After registration, you can buy part of virtual real estate in Axie Infinity or in Decentraland. The Sandbox is mainly for artistic creations.

Another interesting option are stocks of metaverse-associated companies. As we already mentioned, now we are talking mainly about tech giants. So, if you want to, you can take a deeper look at stocks of companies like Apple, Facebook, NVIDIA, Roblox, or Unity. But remember to always DYOR, because this is not financial advice!

Connected projects

In the last part of the article we would like to just briefly go over some projects that are being developed in the Metaverse and are pretty interesting. The most anticipated projects are Decentraland, Axie Infinity, and The Sandbox (already mentioned in connection with stocks).

Decentraland is mainly made for your investing in the land which can be purchased as an NFT and which can then gain significant value. The purchase is made by spending MANA tokens.

Axie Infinity is game where you can collect Axies (virtual creatures). Then you can breed and raise them. The main idea is that you are able to use them in battles to earn in-game currency.

The Sandbox is virtual space that allows creators to monetize their 3D assets.

Thank you for reading.

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Bringing you news, updates, predictions and analysis from CryptoHunters in compact, easy-to-digest format. We run on transparency and passion: cryptohunters.tech

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Štěpán Táborský

Štěpán Táborský

College student, Crypto enthusiast, working at CryptoHunters, Intern at Škoda Auto a.s.

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