The Metaverse crypto concept first emerged with the rich imagination of fiction writers who wrote important works such as Snow Crash, Neuromancer, Ready Player One, and Matrix series. ‘Meta’ means ‘beyond’ while ‘verse’ represents the universe. In other words, the Metaverse will lead us to a space beyond the universe, to new planes of existence, and to new experiences in virtual reality.
Metaverse is a new augmented reality experience where we can meet virtually and explore realms beyond the control of the physical world. We can enjoy a truly immersive experience while collaborating and interacting with others in the Metaverse world.
While the focus is mostly on gaming platforms in today’s metaverse world, other tools and options are also available, including:
- Workplace tools
- Social media platforms
- Investment tools
- Festivals and events
Metaverse is not a new concept but has interested people as Facebook entered the market and created excitement and anticipation in the crypto scene. The present excitement and anticipation increased the prices of the cryptocurrencies associated with the Metaverse world. So the interest in Metaverse platforms has risen. However, when we consider the countless possibilities of the Metaverse world, the game is only the tip of this virtual iceberg.
With a developed Metaverse, we can transcend countries, borders, cultures, brands, and even the laws of physics. We can use the Metaverse world to do just about anything we want, from working and playing games to everyday chores like seeing a doctor or studying for an exam.
Metaverse and crypto
The key for unlocking the Metaverse facts lies in unique tokens and metaverse cryptocurrencies. Unique tokens, also called NFTs, offer ownership rights to digital assets. People can use NFTs to buy and sell a virtual property and artwork, travel virtually or attend virtual festivals and events. Metaverse cryptocurrency is a type of cryptocurrency that funds Metaverse platforms. This cryptocurrency includes blockchain fees, node rewards, staking, and other standard features. It is common to use it for creating virtual platforms of the respective cryptocurrency.
People welcome the Metaverse crypto.
Although it is only just developing, the Metaverse world offers enormous and possibly unlimited potential to transform the way we work, play, and live. The development of the Metaverse has gained momentum during the pandemic; with Facebook’s announcement, this development will likely continue to gain momentum as more people realize the potential of this technology and get involved in metaverse projects.
Now is the time to invest in the Metaverse. The best way to do this is with NFTs and metaverse cryptocurrencies.
Values that make up the Metaverse crypto
In the recent past, when Augmented Reality appeared for the first time, this technology made it possible to think about how it could get spread and applied quickly in society. The idea of creating a world in which other physical creatures act in cooperation with virtuals and in which they can share the environment constitutes the main point of the Metaverse world. The idea came to the public mind after feeling the lack of physical space, the presence of Avatars, and concentration on virtual spaces in all areas of the internet world.
Here, the motion system that exists in the virtual world takes place in real-time and interacts with the surrounding elements. The fact that a person can use the values he has acquired in this world can give him the pleasure of happiness.
What exactly Metaverse does
Metaverse is the next-generation internet. Instead of the internet’s gigantic information transmission medium, the Metaverse offers an immersive experience that is truly immersive. You will be able to access the Metaverse via virtual reality (VR). Instead of pressing keys on the keyboard and reading what is on the screen, you will use a screen such as VR glasses or smart glasses. Motion capture devices will allow you to roam freely in the Metaverse world. You will even be able to interact with other people and objects.
Companies and businesses will use Metaverse. The owner of the Metaverse will never be a single person or legal entity. Also, the management of the Metaverse will never be in the hands of a single regulatory agency. Instead, the Metaverse will get organized using blockchain technology, which guards against fraud and provides built-in protection against security threats. You will perform monetary transactions using cryptocurrencies such as Bitcoin (BTC) or Ether (ETH).
Although most of the potential of Metaverse is in the idea stage, gaming communities are working hard to bring this technology to life using the power of the internet. The core building blocks of the Metaverse offer tremendous opportunities for growth and creative development. Thus, people will access different services and integrate products with exciting new features. While many companies, including Facebook (or Meta), are interested in taking the Metaverse to a higher level, organic growth and development will be key elements that will lead this new world to success. In other words, you are the key to the Metaverse success.
When it comes to the Metaverse, no single company, government, or entity will have the power you do. For true success, the Metaverse must continue to be decentralized and focused on the people who will use, support, grow, and develop this technology.
Why is the Metaverse important?
Metaverse seems like an idea from science fiction movies or a consequence of staying at home due to the Covid 19 virus and its variants. The importance of gaining knowledge about this fact will get understood, and this period will seem like a milestone in the future. Processing the information to be obtained by the avatars presented with augmented reality in the Metaverse world and using it in the real world can make a convenient working space for people.
For example, Bill Gates, the founder of Microsoft company, mentioned in December 2021, school, concert, meeting, etc., will realize the value of time lost in transportation, ticket queue, waiting for a teacher, artist, or conference. He also mentioned that the avatar’s presence might become widespread in 2-3 years to access information. However, in a world where even the Facebook company changed its name to Meta, Microsoft could not make a standstill. He said that they are in the metaverse sector as well.
Opportunities of Metaverse
The initial concept of the Metaverse, following an avoidant approach, promised people a dystopian future where they could escape from the chaos of life. Today’s Metaverse is very different. Today’s Metaverse offers experiences with open-world games as well as new ways to form meaningful connections in an increasingly connected world.
As an exchange market of Bitunivex and users in the crypto world, we can now engage in various real-world activities and social interactions through the games we develop and play, thanks to the Metaverse. These games, supported by a virtual economy rooted in the real world, offer new ways of realizing wealth through virtual goods, digital stocks, unique tokens, and cryptocurrencies.
Although the Metaverse world currently revolves around games, artificial intelligence (AI) can provide users with much more possibilities in terms of versatility and utility (such as entertainment, arts, culture, shopping, and economic opportunities). Here, users will interact with celebrities and public figures and attend virtual concerts or festivals. The virtual world will be at your fingertips. Users will interact with their favourite brands in a more exciting new way. Brands will stay one step ahead of trends by adopting new styles, interactions, and game options.
The game may be the big piece of the Metaverse fact for now, but shopping comes right after the game. Users purchase fashion, art, and design products alongside digital real estate to enjoy unlimited customization options. Users can use these customizations not only for their digital characters but also for their digital media. All of this is made possible by the power of NFTs and the crypto metaverse.
Qualifications required to design Metaverse
While Facebook is the newest company to join the Metaverse world, it is not the first or only company to be interested in this huge and often untapped opportunity. In addition to technology developers, designers, and entrepreneurs, Microsoft, Unity, Amazon, Epic Games, and other technology giants also show great interest in the Metaverse world. Computer chip maker Nvidia is working on Omniverse, a foundational platform designed to create augmented reality simulations that support the Metaverse world.
Metaverse has several key attributes, including:
- Synchronized events happening live and in real-time for all users
- Continuous experience that never stops or ends
- An experience that spans both the physical and virtual worlds
Thanks to cryptocurrencies, today’s Metaverse has an economy that works smoothly. Businesses and individuals can equally participate in this economy by using cryptocurrencies. He can create, earn, buy, sell and invest in virtual properties using cryptocurrencies to exchange them for fiat money in the real world.
Conceptualized as the ‘next-generation Internet,’ the Metaverse goes even further. Metaverse came to existence through decentralized ledgers, smart contracts, 3D technology, and similar technologies.
What is The Metaverse crypto relation to cryptocurrency?
Metaverse appeared to merge the physical and virtual worlds. Metaverse allows you to share items you have earned or designed in one of these two worlds. In a world where you have a virtual presence for whatever you want to be or do, you need money. Here you will make this money through crypto.
Similar to Metaverse, cryptocurrencies are on blockchain technology. The internet we use is a distributed system, while the Metaverse is decentralized. The same decentralized system has usage in crypto money networks.
Although Metaverse is still in its early stages of development, blockchain is a relatively well-established and accepted technology. Blockchain is a specific type of database based on a network of computers. In this technology, information is verified and added to the blockchain reality, thereby creating an unalterable record of transactions and data. Although blockchain technology is the pillar of the crypto world, some others have begun to emerge, including the Metaverse.
The Metaverse blockchain has several features that we know them. For example, it contains more than 1,100 decentralized nodes on the Ethereum network alone, and the contents are portable. Everything you upload on the Metaverse can easily get transferred to another platform.
You create your digital version on the Metaverse blockchain. You can easily access, use, import, or export anything without the interference of third parties. It is possible to have autonomy over your own experience and use various technologies such as virtual, augmented, mixed, or extended reality to create the best possible interactions without being affected by the limitations of the physical environment. Also, the addition of digital assets and cryptocurrencies will further stimulate the global economy and help you realize your limitless dreams.
Unique tokens, or NFTs, are unique and cannot be exchanged for other tokens; these are virtual entities that enable the Metaverse to grow. NFTs; represent intangibles such as collectibles, images, videos, and other virtual properties for the game. NFT ownership is on the blockchain, and NFTs can get exchanged for digital assets.
NFTs have Smart Contract features that allow to automate and enforce a deal. This event makes it easy to trade and give access as desired. That is, you can use NFTs not only to invite others into your space but also to access invitation-based events such as festivals.
While many users like to keep NFTs as collectibles, some see them as an investment opportunity like cryptocurrencies.
Are Metaverse cryptos different from other tokens?
Unique tokens are not just the currency of virtual world communities; they are also the factors that feed the growth of the Metaverse. Some virtual reality platforms make it possible to participate at no cost. However, you have to have cryptocurrencies or Ethereum-based tokens such as MANA or SAND to buy or sell virtual assets. You can exchange these tokens for virtual goods, services, or experiences. You can also purchase access to user-created virtual world games.
These tokens are registered on the blockchain and can be traded just like the assets they represent. The NFT market has taken a great leap forward, with some metaverse users using NFTs as collectibles and others for investment purposes.
Is cryptocurrency the future of Metaverse?
Online payments have long gotten accepted in both the digital and virtual worlds. The cryptocurrency concept is on this technology. NFTs have taken these two a step further. Cryptocurrencies play a very logical role in a virtual financial ecosystem as they offer a simple, secure, and highly transparent way to transfer values from one user to another.
Emerging crypto-based platforms provide nearly unlimited growth opportunities, enabling the technology to evolve continuously. Significantly fueling this growth, cryptocurrencies and NFTs will play a fundamental role in ensuring that the technology in question realizes its full potential. Cryptocurrencies are key to gaining full access to wealth in both the digital and physical worlds, whether you are aiming to experience the immersive world of the Metaverse to the fullest or take advantage of its financial benefits,
Why are Metaverse cryptos rising?
There has been a Metaverse frenzy all over the world lately. The statement about the Metaverse from the social media giant Facebook yesterday, the change of the company name to Meta, increased the interest in the subject. Metaverse-oriented crypto money projects were also positively affected by this. Many coins under this category experienced double-digit gains, and some even triple-digit.
How to get Metaverse, and what are popular metaverse cryptos projects?
The demand for Metaverse cryptos has increased after Facebook changed its name to Meta. It announced that it would invest in the mixed universe known as the Metaverse.
Metaverse coins can get purchased on cryptocurrency exchanges, just like Bitcoin and other altcoins. You can buy metaverse coins from many global exchange markets like Bitunivex. Some popular metaverse cryptos are:
Axie Infinity (AXS)
Axie Infinity is a platform created with ‘play to win.’ In the world of Axie Infinity, players are rewarded and earn income as they contribute to the ecosystem. The project appeared by a game company called Sky Mavis in Vietnam in 2018.
MANA is an Ethereum-based virtual reality platform that allows users to create, experience, and monetize content and applications.
Enjin Coin (ENJ)
Enjin is a project that aims to create a blockchain ecosystem of gaming products. The Network, on the other hand, is a social gaming platform where users can create websites and clans, chat, set up virtual goods stores.
The Sandbox is a blockchain-based virtual world that allows users to create, buy and sell digital assets in a game form. The project appeared and launched in 2020.
WEMIX is the blockchain-based global gaming platform developed by WeMade’s subsidiary Wemade Tree. This project focuses on the blockchain gaming services arm. Wemix includes gaming dApps that provide users with wallets and marketplaces for digital assets.
Dvision Network (DVI)
Dvision Network, a blockchain-based VR content ecosystem, runs on the Ethereum blockchain. Launched last year, Dvision Network also includes a platform where NFTs can get traded.
Star Atlas (ATLAS)
Star Atlas is a massively multiplayer online game located in the sandbox metaverse. It, on the Solana blockchain, was launched in 2021.