METAVERSE: The next big thing

It is no longer news that the metaverse has become one of the most talked-about topics in the world today. Obviously, it is no longer just a word used in science fiction.

Meanwhile, technology enthusiasts in different fields of work have started keying into their visions of a virtual reality universe (metaverse). For instance, Facebook CEO, Mark Zuckerberg renamed the social media platform Meta after making his vision of a metaverse known in 2019.

Also, the cryptocurrency space is undergoing transformation. The creation of the Nft (non-fungible token) was also based on the vision of a metaverse. The idea behind Nft is to enable people to buy real-life assets such as paintings, properties and more in the digital world.

The Nike company has plans to sell virtual trainers in years to come. This makes it so glaring that the world is adopting the idea of a metaverse fast. That said, a definition and overview of the metaverse is essential to give a better understanding of what metaverse is all about.

WHAT IS METAVERSE

Metaverse originated from the Greek word “meta” (which means beyond) and universe.

It is a virtual space that connects the physical world to the virtual world using advanced technologies (such as virtual reality, and augmented reality headsets), and the internet.

In other words, it means enabling humans to conduct activities in the virtual world the same way they do in real life with the help of the internet, virtual reality, and augmented reality technologies. These activities include learning, shopping, meetings, games, and even training.

Metaverse is also known as “web 3”. An advancement of the current internet.

VIRTUAL REALITY IN METAVERSE

Virtual reality refers to the use of simulations that helps a person relate to an artificial visual three-dimensional environment. A virtual reality device immerses the users in an environment generated by a computer that imitates reality by using interactive devices that send and receive information. These devices include headsets, goggles, gloves, or bodysuits.

Virtual reality inventions came into existence in the mid-1950s. Over the years, software and technological advancements brought about a progressive change in both interface designs and performance of virtual reality devices.

TYPES OF VIRTUAL REALITY (VR)

There are different types of virtual reality. They include:

  1. Collaborative Virtual Reality:

This involves the coming together of users from different locations into a virtual environment in the form of 3D characters popularly known as ” avatars”.

A particularly good example is the PUBG (player unknown battleground) mobile game which enables different players to interact with one another in a virtual space.

  • Non-immersive VR:

This is a type of virtual reality whereby a person interacts with a virtual environment through a computer where he/she can determine activities within the environment. However, the virtual environment is not interacting directly with the person.

  • Fully Immersive VR:

It is the direct opposite of non-immersive virtual reality. It is a complete virtual experience whereby you can feel everything going on in the virtual space completely with the aid of virtual reality glasses, helmets, and gloves.

An example is the virtual gaming space.

  • Semi-immersive virtual reality:

As the name implies, it falls in between immersive and non-immersive virtual reality. In this situation, the user will have no physical experience other than the visual experience gotten from the computer or virtual glasses.

METAVERSE AUGMENTED REALITY

Although virtual reality has been around for a long time, most people are not fully aware of its meaning, so they often mistake virtual reality for augmented reality. However, the reverse is the case in this situation. Augmented reality refers to a virtual experience that overlaps with real life objects. In other words, it means bringing about virtual experiences or effects into the real world.

Augmented reality is highly synonymous to mixed reality.

CRYPTOCURRENCY IN METAVERSE

Cryptocurrency is one of the fast-rising ways to earn, exchange and store money digitally. It is an especially important aspect of the metaverse because playing, living, and working in another reality needs huge funding. This brings cryptocurrency into the picture since it is the only digital means of exchange. There are virtual reality platforms created to enable the buying, selling and exchange of properties using virtual cryptocurrency coins affiliated to these platforms explained in the remaining part of this article.

TOP METAVERSE CRYPTO PLATFORMS

  1. The Sandbox:

This is a virtual environment where you can buy and sell virtual assets using the metaverse coins called “SAND” which is uniquely affiliated to the sandbox platform.

The sandbox metaverse runs on the Ethereum block chain. This means great security and safety for your asset.

  • STAR ATLAS

This is another metaverse cryptocurrency platform. It makes use of the metaverse token known as “ATLAS”. It runs on the Solana blockchain.

  • Axie Infinity

It is a gaming metaverse platform that has daily players. The players can own personal tokens known as ” AXIS,” which enables players to stake and play Axie Infinity games. Players are engaged by searching for resources and hunting for treasures. The most engaged players receive rewards via this blockchain.

The axie token is an Nft traded outside the gaming platform.

  • Enjin

This platform enables the users on it to sell, store and mint virtual goods.

To use this platform, developers must ensure that they first lock the “ENJ” token into a smart contract. This will enable them to assign value to the virtual goods that they own. Players can then trade and use the “enj” token based on the terms of the smart contract.

The Enj metaverse token has a limited supply like other metaverse coins.

FINAL THOUGHT

metaverse is becoming a fast-rising vision. Although this vision is still in its early stage, it has the potential to take the world of technology to a whole new level. So, let us relax and look out for the greatest evolution that is about to take place.