What is Metaverse?
- It is impossible to stay away from the metaverse. Facebook’s Mack Zuckerberg and its growing chart are also available on Google. So, what exactly is the Metaverse?
- The metaverse is a planned version of the Internet, a shared 3-D virtual realm that is connected to the perceived virtual universe.
- Mark Zuckerberg describes the Metaverse as “ the internet you are inside of rather than just looking at”
- While the concept for Metaverse has been around for a while, it’s only now becoming a reality thanks to recent technological advancements and the support of tech titans such as Facebook, Microsoft, and Nvidia. Building these enhanced worlds that imitate our reality or perhaps go beyond it is becoming increasingly popular.
- The Metaverse will be made up of the following key components in the future:
1. Avatars – three-dimensional representations of players that can have any physical or psychological characteristics.
2. More mature technology: for a truly outstanding user experience, better headsets (more immersive, better images, and better sound), a quicker network, and the ability to construct digital twins are all essential.
Example of Metaverse:
- Remember that Second Life, which debuted in 2003 and featured an immersive shared virtual space, was an early version of Metaverse.
- Watch the film “Ready Player One,” which is based on a novel and set in 2045 and is a wonderful representation of what the Metaverse looks like.
What are the ways to invest in Metaverse?
We can invest in these Metaverse platforms in the following ways:
- Cryptocurrency is the first and most straightforward option. You can purchase the tokens and cryptocurrencies that power these metaverse ecosystems. This is perhaps the simplest approach to gain exposure to the space because it’s as easy as going to an exchange, buying the coin, and then selling once you feel it’s appropriate.
- In-game NFTs are the second way we can participate. Land, real estate, collectibles, wearables, characters, in-game assets, and a variety of other items can be used as NFTs because they are representations of things we can genuinely own in the Metaverse.
- The third item is a little more precise, and it’s generally as an NFT right now as well, but it’s land, which is the Metaverse’s underlying basis. If you own land in the Metaverse, you can construct a variety of structures on top of it, including residences, real estate, events, businesses, and Metaverse games. On such digital real estate, you can put anything. As these projects grow in size, the less real estate available should drive up prices; as several projects have already demonstrated, land and real estate values have skyrocketed.
What makes Metaverse different from Minecraft?
- Consider the game Minecraft, which is an open-world game in which players from all over the world may log in and play as virtual characters in which they can build houses, own land, trade collectibles, make stuff, and do anything else that can be done in real life.
- The Metaverse is similar to Minecraft, except that it will use technologies such as augmented reality and virtual reality, as well as other ecosystems and monetary platforms, to bridge the gap between the actual and virtual worlds.
