Ever since Mark Zuckerberg announced the name change of Facebook to Meta, everyone in the world has a new buzzword.
Mark announced earlier in 2021 that the future of Facebook will be in the metaverse, and now all the companies are in the metaverse business and we have so many experts on metaverse too.
But what is this Metaverse and why does it even matter? Should you worry about it if this metaverse is the next chapter of the internet?
But one thing’s for sure, you should not be standing flat-footed when the wave of metaverse catches you on. Metaverse is going to fuse cryptocurrency and embed it with your online world.
So scroll down to read further about this metaverse and what does it has to offer that can assist you in managing your cryptoportfolio,
What is Metaverse?
At its core, the metaverse is an engulfed internet, a social sphere where people can meet with one another to assist in avatar personalization and allow them to be more present than just a simple video call.
This metaverse is synchronous and it feels like real life compared to the present-day social media which is feed-based. You will not catch up on what others are doing, you can meet them in real life.
This experience can be persistent just like the world around us. And when you get back to your metaverse space, you will not have to start from scratch.
Just like your real life, it will have all kinds of things that you love to do with your company. Of course, you can also go to your favorite concerts and other events. Plus, you can play games, work, shop, date, and hang out. It is going to integrate cryptocurrency and you can even manage your cryptoportfolio using it.
Where is This Metaverse?
This metaverse does not exist at the moment. But we do have some predecessors to this metaverse that are currently in place and people love using them. These predecessors are,
Virtual reality
People often confuse virtual reality or VR with the metaverse. They both provide you with a feeling of an embodiment so it is understandable that people often confuse them. If you wear the headset, this embodied feeling becomes much more real. You are not controlling any avatar with your keyboard or gamepad.
Augmented reality, virtual reality, and other capital computing forms will be part of this metaverse, it will work across multiple devices. It will not be something that you can dive in and out of anytime you want. Instead, it will be something that will remain with you throughout the day on your phone, with your AR glasses, or your VR headsets.
Roblox and Fortnite
Both games are considered to be the early incarnations of this metaverse. Both these games do check a couple of boxes in comparison with the metaverse. Moreover, both games are social spheres, and they have avatars with in-world economies.
There are massive live events, and they both are way more than just gaming. You cannot take your Fortnite avatar to your Microsoft Teams meetings, and you are not going to find any business outside Roblox that accepts Robux payments.
Some of these games already allow you to trade in cryptocurrency. Therefore, they will become an obvious source for cryptoportfolio management in the future.
Metaverse Stocks
In the latest stock market news, you might have heard about those metaverse stocks. These metaverse stocks are the companies with a business that brings metaverse more increasingly to real life.
Metaverse is a virtual space where people can interact with one another seamlessly for numerous reasons. And companies that are making these technologies more real and accessible for people are metaverse stocks.
The best metaverse stocks in the market today are,
- Facebook Inc.
- Unity Software Inc.
- Autodesk Inc.
- Amazon Inc.
- Microsoft Corp.
- Roblox Corp.
- Nvidia Corp.
Metaverse Gaming
Metaverse gaming will not be something like Spielberg’s dystopian sci-fi Ready Player One based on Ernest Cline’s book. But it is an online area where decentralized finance or DeFi fuses cryptocurrencies.
These games are virtual worlds that are driven by artificial intelligence. There are various products already available on the market where people can interact with one another, But metaverse takes it to the next level. In these worlds, players will exist in their avatars and participate in different events across the globe.
NFTs
Non-fungible tokens are digital content linked to the blockchain, and they underpin cryptocurrencies like ethereum and bitcoin. But these crypto are fungible. It means that you can replace them or exchange them with another identical one with the same value, just like a dollar bill.
But non-fungible tokens are non-interchangeable and can be associated with easily reproducible items like audio, videos, photos, or other media to provide proof of ownership. These are useful for video games, digital collectibles, music, and artwork.
Final Words – Why Does It All Matter?
More and more people are rushing to the metaverse by adopting social gaming platforms with avatars. Plus, the pandemic has allowed them to explore new forms of real-time interaction.
All major tech giants are looking to explore the next big thing after smartphones. And while they explore the new trends, some other questions need to be answered.
- Who will be the new gatekeepers?
- What about the safety, privacy, the mental health of the users?
- And who will pay for it all?
This metaverse will allow people to interact with one another using their avatars. They will participate in different events and even interact with distant friends and family and log in with coworkers. The metaverse might be decades away, but the foundations for the next chapter of the internet have been laid. Many of these online games are already accepting cryptocurrency transactions and you can manage your cryptoportfolio using these games pretty effectively even if it is pretty limited.