What Is The Metaverse?

May 28, 2022

What Is The Metaverse?

What is the Metaverse and Where is it?

The Metaverse 101

There is a lot of misinformation about what is the metaverse so in this article, we will provide you with the facts. You need to know everything that you can about the metaverse so that you can profit from it.

The Metaverse is not a new idea

The concept of the metaverse first appeared in a book called “Snow Crash” back in 1992. In addition to this, the Matrix movies are based on the existence of a metaverse. Some people believe that Mark Zuckerberg, the CEO of Facebook, came up with the idea for the metaverse but this is not the case.

A Combination of Technologies are used in the Metaverse

If you search for the definition of the metaverse online then you will find some conflicting information. The metaverse is an immersive 3D world that utilizes a combination of technologies such as Virtual Reality (VR), Augmented Reality (AR), Artificial Intelligence (AI), and more.

There are a lot of big tech companies interested in the metaverse. Apart from Facebook, Microsoft, Apple, and Google all have a strong interest. A lot of work is going on at the moment to develop lighter and more usable VR headsets that will sell for a reasonable price.

There will be a lot of Shopping in the Metaverse

In some existing metaverses there are large malls where users can purchase physical and digital products. Most of the current metaverses have NFT marketplaces where users can acquire unique items such as land, customization products, and more. A metaverse NFT can be purchased and stored in a digital wallet using blockchain technology and a smart contract.

As the metaverse grows there will be more things for sale. A lot of businesses are monitoring the development of the metaverse as they see this as a major opportunity to sell their products and services. Shopping in the metaverse is going to be a big thing and there will be many opportunities for businesses to profit.

The Full Metaverse is not here yet

Experts believe that a major aim of the metaverse is that there will only be one platform. Today, there are some individual metaverses and the idea will be to connect all of these to create a “full” metaverse. This is going to take time and is probably 2 to 3 years away.

As a metaverse user, you will want to go anywhere and keep the same avatar. This will be possible with the full metaverse. Right now, you have to use different avatars in different metaverses. The possessions that you have in one metaverse are not transferable to another.

Many People are Talking about the Metaverse

There is a lot of excitement about the metaverse already. Many people are talking about it and how it will change their lives. VR is a very exciting concept for many. Entering a 3D world that is similar to real life is an exciting prospect.

The development of blockchain technology has fueled the buzz about the metaverse. People have seen the rise of cryptocurrencies and NFTs and are eager to see how this will relate to the metaverse. With the Covid-19 lockdowns across the world, many invested in VR headsets and have gotten involved with existing metaverses.

There is more to the Metaverse than Gaming

Many people think that the metaverse is only about gaming but this is not the case. The metaverse promises to be the new social media where people can meet and interact with each other. It offers other applications as well such as the staging of live events and immersive learning.

The Future Is Now

Whenever there is a groundbreaking shift in technology, there are early adapters, and then more people move in as the technology becomes more tested and familiar.

Before everyone jumps on the bandwagon is when the early adapters can make a lot of money by being ahead of the curve.

Many people pass it off as a fad before it hits mainstream, but then there are those who want to know how to make money with NFT’s in the metaverse.

Seek and ye shall find. 🙂

Oh, here’s a place to look, my very smart friends Matt Wolf and Joe Fier over at Hard Fork Gaming go deep into NFT’s, you can check out their Youtube channel here.