The Metaverse: Everything You Need to Know

What is the metaverse? Are these virtual worlds that exist outside of our reality? Does the metaverse really exist? Important questions, and it's imperative that blockchain and crypto users understand the fundamentals of the metaverse.

Yes, it exists, but the truth is that every person and every organization understands the metaverse as something different.

"Billions of digital galaxies storing the entire digital experience of the universe"

"The metaverse is a digital world where everybody can join and contribute"

"A compatible, interconnected and open reality in which all people and all objects are not bound by the laws of physics that we are accustomed to"

The metaverse is much more than blockchain or any other technology. It is a virtual universe in which everyone can interact with other people, while data and value can be shared permissionless. At the same time, it is important to understand that one virtual world can never be a metaverse, because we are talking about the interconnection of several worlds, if not all at once.

Rules of the Metaverse

In the metaverse there are no boundaries, there is no discrimination on any grounds. This universe is constant and open to everyone.

For example, if you consider the individual projects that are part of the metaverse, their economies are interconnected and players can easily enter it with the same identifier. Everyone has the ability to interact with the metaverse in different ways, using virtual reality glasses or their smartphone. Even when you pay for products at the checkout and swipe your wallet to pay, you are already interacting with the metaverse. No matter who has what resources, no one is able to affect the functioning of the metaverse. It is always stable and uninterrupted.

The metaverse opens up incredible possibilities for all. Everyone will be able to create their own digital goods and service and sell them to anyone on this planet (or beyond). In this way, every talent can be rewarded in its own right.

“As we examine gaming’s performance, we see how vast its impact has been on the blockchain industry and just how powerful a propeller the play-to-earn narrative has become. Gaming accounts for half the industry’s usage and a fifth of the NFT trading volume for what’s been a record-breaking quarter. Axie beating blue-chips like CryptoPunks and NBA Top Shots to become the most traded collection ever poignantly illustrates this,” says Dragos.

Metaverse identities

In the metaverse, you can have several personalities at once, which you can create for different purposes. You can collect rare items, play the guitar or become a soccer player for a popular soccer club. You can create each of your characters for different purposes. There are simply no restrictions. In metaverse, each person will have their own digital avatar, which will essentially be our doppelganger. Interacting with the metaverse will be possible through augmented and digital reality, but we will be able to interact with some parts of this universe even in our physical space. With the metaverse, we will all be able to access the information we need when and where we need it, not just through the internet.

As a matter of fact, the future of the internet could potentially no longer rely on Internet Service Providers (ISPs), but on the interconnectivity between all its participants. Closing thoughts You probably know how social media has revolutionized our world. Compared to the impact of the metaverse, social media will simply pale into insignificance. It will be a whole new world that we did not know before. Our real world is moving into virtual reality, giving us a wide range of possibilities. And it is advisable that we prepare for this world today.

“Zoom out and we see these trends coming together into something even bigger and potentially all-encompassing: the metaverse. As things stand, we’re headed towards a complete shift in how we form communities, how we create, play, trade, and socialize — how we live. It’s not that this shift wasn’t there before — we’ve been living a nomadic sort of digital life across disparate platforms for a while now — but blockchain gaming is catalyzing the creation of single virtual spaces where we can settle,” concludes Dragos.

Closing thoughts

You probably know how social media has revolutionized our world. Compared to the impact of the metaverse, social media will simply pale into insignificance. It will be a whole new world that we did not know before. Our real world is moving into virtual reality, giving us a wide range of possibilities. And it is advisable that we prepare for this world today.

Also published on: https://dappradar.com/blog/what-is-the-metaverse

This article is part of The Gaming Metaverse Writing Contest hosted by HackerNoon in partnership with The Sandbox.

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