May 10
What is a Metaverse?
Metaverse is a concept of a visual online 3D universe that combines multiple different virtual spaces. It can be described as a future version of the internet. Metaverse allows users to work, meet, game and socialise together in these 3D spaces.
Metaverse isn’t fully adapted yet but there are some platforms containing metaverse-like features. Video games is the closest representation of metaverse people can experience. Developers have pushed the boundaries of what a game is through hosting in-game events and creating virtual economies.
Although cryptocurrencies isn’t necessary, it fits well for metaverse as it allows creating digital economy with different types of utility tokens and virtual collectibles (NFTs). Metaverse also benefit from use of crypto wallets such as Trust Wallet and MetaMask. Blockchain technology can provide transparent and reliable governance systems.
Blockchain, metaverse-like applications already exist and are providing people with liveable incomes. Axie Infinity is one of it, where people play-to-earn game that many users play to support their income. SecondLive and Decentraland are other examples of successfully mixing the blockchain world and virtual reality apps.
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