Portfolio tracker "To the Saturn"
Imagine a universe freed from the everyday physical realities of your life. In this alternate world, you can work, play, relax and connect with people anywhere else on the planet. You can attend gatherings, create incredible art and amass a fortune. You can do anything your imagination can conceive. This is not a far-flung dream: this is the metaverse, and cryptocurrency is the key to accessing it.
Metaverse blockchain technology is still under development, but the concept of this digital world is well-developed with roots extending decades into our past. Visionaries and science fiction writers have been working on the concept of the metaverse, dreaming of a way to move beyond the physical limits of our world to explore boundless horizons and create new possibilities. Whether you want to reach new heights of digital success, explore another world or interact with friends and family members in novel ways, the metaverse makes it all possible.
Mark Zuckerberg is the latest to dip his toes into the metaverse, and with no little fanfare. Facebook, now known as Meta, is a large and powerful company, but it is neither the first nor the only tech company to become enthralled with the idea of the metaverse. After all, the metaverse is the latest iteration of the internet and can no more be owned by a single company than can the internet. However, each company that involves itself will play a role not just in building the infrastructure supporting the metaverse but also in shaping how it will ultimately look.
What Is the Metaverse?
The idea of the metaverse first sprang from the fertile imagination of Neal Stephenson, who described a “metaverse” in his 1992 cyberpunk novel, Snow Crash. Stephenson describes a shared digital space that people access using virtual reality goggles and a shared fiber optics network. His metaverse contains virtual versions of everyday, ordinary spaces, from parks and buildings to fantastic and wildly whimsical spaces where the laws of physics no longer apply, only the rules and limits one imagines.
With Zuckerberg’s announcement describing the metaverse as the next chapter of the internet, the public’s interest in the concept has exploded. This metaverse opens up entirely new vistas of possibilities, giving you the space you need to do whatever you want: gathering with others, working, playing, shopping, creating, or learning about new places and ideas. The metaverse puts not just the entire physical world at your fingertips but the capabilities of your own mind in the power of your own hands.
In the metaverse, you’ll inhabit your own space and interact with others using an online avatar that enables you to move, speak and act freely. You’ll have complete autonomy to do whatever you want, including owning virtual property, much as you would own actual real estate. You can even create a property, such as art or buildings, and you can sell that property to other metaverse users, exchanging the property for non-fungible tokens (NFTs) or other units of value.
NFTs are a type of in-game currency and collectible. These digital assets form a virtual economy for users, who engage in play-to-earn models and exchange virtual goods or property for tokens. They can also exchange their metaverse crypto with other users, or invest their metaverse tokens to earn interest or other collectible items. Many of the top metaverse gaming sites are already using their own tokens, which can be used for a variety of purposes or exchanged for real value in cryptocurrency or even fiat currency. Since Zuckerberg’s announcement, many NFTs and tokens are soaring in value, and adopting metaverse crypto now can help you get in early on exchange-traded funds (ETFs) and ride the wave to metaverse success.