The term Metaverse refers to an imaginary space, also known as the future accelerated version of the internet that can be navigated via virtual and augmented reality. In the Metaverse, participants can create things that do not exist. The metaverse is basically a shared virtual 3D world, that is interactive, immersive, and collaborative. The metaverse is rapidly becoming a trendy platform allowing digital goods and identities to move from one virtual world to another, and even into our world, through augmented reality.
Why does it matter?
Fans of the metaverse see it as the next stage of a full immersion internet. Now, people still interact with each other online by going to websites and apps such as social media platforms or using messaging applications. The idea of the metaverse is that it will allow the creation of new online spaces in which people’s interactions can be more multi-dimensional, where users are able to project themselves into the digital content rather than simply viewing it and consuming it. The accelerated interest in the metaverse has been further accelerated by the recent Covid 19 pandemic where a global army of stay-at-home users have spent much more time a day surfing and testing new applicability of the internet. The early manifestation of Metaverse has been in the videogame pace, but we expect its applicability to be diversified in multiple sectors soon.
What is next?
We believe that Metaverse is the new big thing where more people will end up given the trend of working, socializing, videogaming, dating, going to school remotely, and following sports. It provides innovative opportunities to make money pushing the demand for more comprehensive ways to make online interaction more lifelike while ensuring better safety, and privacy protection. It will also allow for users to create their own experiences and realities with the option of becoming owners, investors of the digital land/content that could be acquired via non-fungible tokens (NFTs). The Metaverse, powered by blockchain will undoubtedly become the best environment to utilize NFTs