What is Metaverse?
What is metaverse?
Metaverse is a digital reality that combines aspects of social media, online gaming, virtual reality (VR), and cryptocurrencies to allow users to interact virtually. Metaverse is a set of virtual spaces where you can create and explore with other people who aren't in the same physical space as you Though metaverse technology is years away from being fully realized, it is expected to eventually be a place where you can work, do parties , buy land ,play, learn, create, shop, and interact with friends in a virtual, online environment. You can do your office work from home but you can feel like you are in an office environment. Metaverse is a decentralized space where there will be plots, buildings, roads, car showrooms etc .The advantage of being decentralized is that you will have unlimited freedom in it ,what we have in phone is that you can only see and hear but in coming times whatever is in your phone screen you can enter it virtually and experience where you can virtually attend meetings, play games etc. Metaverse world is beyond the world of internet
Crypto and metaverse
Now what will happen When the metaverse will be fully used in coming times you will buy cloth of NFT. If you want to attend the meeting virtually you will have to go there and buy clothes so you can change you entire lookout
Every economy needs a currency, the metaverse, which is also a fully immersive virtual economy, needs a mode of payment. Since activities and interactions in the virtual world are all done through an avatar of the user, it is not possible to transact in traditional paper currency. Some metaverses already use cryptocurrency as a form of payment because it is already a developed currency. The use of cryptocurrency makes all virtual transactions spontaneous, and the blockchain technology powering them makes the transactions highly secure as well as trustworthy.
Decentraland(MANA), Axie Infinity(AXS),SAND,MBOX and ENJIN allow users to own virtual land, play-to-earn, and experience much more. Digital assets can be owned through NFTs that are nothing but crypto tokens in which the ownership details of the virtual assets are coded. An NFT could even be in the form of digital art, any in-game property, etc.