By now everyone has heard about the new name of Facebook, “Meta”. A short form for Metaverse but what is Metaverse? Metaverse, or MV, is digital reality that combines aspects of social media, online gaming, augmented reality, virtual reality and cryptocurrencies to allow users to interact virtually. Since, we are all connected with our phones, pcs, tablets and different devices; this will give a wider range of products and services to blend together. Therefore, more tech companies are getting their hands on the Metaverse.
In simple words, this is a shared virtual space. Some famous movies give a small idea on Metaverse World: Matrix, Avatar, Minority Report, Report Player one and recently Free Guy. Just like those movies, metaverse gives a virtual world experience by simulating human emotions and gestures. This allows avatars and users to travel freely and a living, breathing experience which never stops or finishes at the end like a game.
What can be done with Metaverse?
As experts say, there are no limitations with metaverse. This is not just for the gamers but metaverse will allow anyone to meet up, collaborate, buy goods and services, participate in concerts and live events with others.
Visit a virtual art gallery and meet with friends in a simulated cafe. This will also allow virtual reality where users can buy and sell land, buildings, identities and avatar. One of the crypto, Decentraland (MANA) defines itself as a virtual reality platform powered by the Ethereum blockchain that allows users to create, experience, and monetize content and applications. In this virtual world, users purchase plots of land that they can later navigate, build upon, and monetize.
One of the reasons why some of the Metaverse Tokens like AXIE Infinity (AXS), Decentraland (MANA) and Sandbox (SAND) has surged in prices recently. Refer.
Even now musicians can perform virtual gigs and fashion companies can create virtual apparel for customers so they can try in metaverse environment.
Imagine a one stop shop where you can buy goods and services, study, working, attending concerts, music gig, playing games and make money on an online platform which will be both an extension and fusion of the real world. Just like in 2000 where internet was a revolution, users were able to meet new people online through messengers, email, video chats and do business but this is very simple nowadays even a twelve years old can surf internet and make money. Similarly, this will be the future and therefore, more companies will be investing on metaverse.