Metaverse... what is it? In a nutshell, it’s an online virtual world in which people use avatars to represents themselves, digital currency (i.e., blockchain) is used to buy clothes or properties (house & malls) etc and socializing virtually by building the community.
The concept of metaverse is not new... It was first mentioned by Neal Stephenson in his science fiction novel - Snow Crash (story of Hiro Protagonist, a katana-wielding hacker who jumps back and forth between Los Angeles and a virtual world called the Metaverse). He terms metaverse as next-generation virtual reality-based internet
The connections between the physical, virtual, and financial worlds have become increasingly linked. The devices we are using to manage our lives give us access to almost anything we want at the touch of a button. The whole crypto ecosystem hasn't escaped this either. NFTs, DAO's, DeFi and blockchain platforms aren't just limited to crypto geeks anymore. They all are now easily accessible as a part of the developing Metaverse.
They all give us a glimpse of what the digital worlds of the future or Metaverse might look like
Meta: Previously Facebook, Meta changed its name to align itself with the metaverse, where it aims to build an online 3d virtual world where people can do anything and everything including socialise, play, and work. It’s an metaverse social company now.
Decentraland: It’s a true web3 platform. It’s governed by a Decentralized Autonomous Organization (DAO) and is an online home to the world’s biggest superstars and brands, including Morgan Stanley, Coca-Cola, Adidas, Samsung, and Snoop Dogg. It comes with its own cryptocurrency which is known as MANA.
The Sandbox: It's started out as a mobile game, which in 2018 was converted by its creators to the Ethereum blockchain, becoming one of the 1st truly decentralized metaverse platforms. It includes its own object creation tools that allow anyone to build 3D items, avatars, vehicles, homes, or anything else they can think of, which are then minted as NFTs which can be imported into other Sandbox worlds.
Roblox: It is a gaming platform used daily by more than 50 million users. It lets anyone create and you can even monetize your own game worlds, which all exist within an interconnected metaverse and share aspects like avatars and cryptocurrencies.
Hundreds of brands are eager to jump into this projected $800 billion metaverse market. However, only a few brands doing it right and seeing positive returns. Here are some of the best examples of successful brand integration with the current metaverse platforms.
In the end... of course fully Metaverse is likely a long way off, we already can see developing metaverse, but when it’s get fully developed it will change our ways to socialise, work, play.
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