Metaverse is a 3D online virtual space that connects all aspects of a user's life. It connects multiple platforms, similar to the Internet, which includes various websites accessible from a single browser. The concept of Metaverse was developed in the science fiction novel "Snow Crash" by Neil Stephenson. The idea of the Metaverse was once fiction, but now it looks like a reality.
How is the Metaverse understood?
The Metaverse is an unfamiliar definition in today's online community, but to electronic users, the Metaverse can be seen as a world built for gamers to live in. In fact, the XANA Metaverse is a place where the physical and digital worlds merge. It's a space where each avatar can interact at work, play, meet at each other's office, go to concerts, and get dressed.
What is the relationship between Metaverse and Blockchain?
Metaverse is a set variety of platforms, but in a world like Metaverse that promotes creativity, freedom of interaction, and decentralization, blockchain seems to be one of the key technologies in this world.
In terms of content, we currently have celebrities such as Google, Facebook, Twitter and Netflix, as well as game names such as Playstation, Fortnite, Roblox and Unity. The obvious problem with these platforms is that it's almost impossible. To do that, users can interact with each other. Users may not exchange or move XANA’s's very rare items for Metaverse equivalents.
In addition, the assets of the players in these games do not actually belong to them, thus depriving them of personalization and ownership. There are few factors that affect these assets, and these properties can disappear from the player's account. And the above problem can be solved by blockchain
What is the future of the Metaverse?
Facebook is one of the loudest voices for creating a unified metaverse. This is especially interesting for the cryptocurrency metaverse by Facebook's stablecoin project Diem. Mark Zuckerberg specifically mentions plans to use the VR platform project to support remote work and increase economic opportunities for people in developing countries. With Facebook owning a social media, communication and crypto Platform, it's a good start to integrate all these worlds into one. Other major technology companies such as Microsoft, Apple and Google are also looking to create a metaverse.
For cryptocurrency-based metaverses, further integration of NFT marketplaces and 3D virtual universes seems to be the next step. NFT holders can sell their products from multiple sources in marketplaces such as OpenSea and Bakery Swap, but there is still no popular 3D platform for that. At large scale, blockchain developers can build popular Metaverse-like applications with more organic users than large tech giants.
Bottom Line
A single unified metaverse is probably a long way off, but there are already developments that could lead to its formation. This seems to be another science fiction use case for blockchain technology and cryptocurrencies. It's unclear if we really reach the point of the Metaverse. But in the meantime, we can already see projects like the Metaverse and increasingly integrate blockchain into our daily lives.
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