The Metaverse is Here - The Acceleration Of a New World

The Metaverse is here. The future has started accelerating, and the Metaverse is one of its newest products. Whether it be alternate realities like those popularized in Ready Player One or virtual simulations replacing reality, the Metaverse will undoubtedly have a material impact on our lives.

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What exactly is Metaverse?

Metaverse is currently described as “the web across all universes” but that doesn't really capture what it means for an average person, does it? Think about this: Metaverse enables you to seamlessly move between multiple worlds without changing your surroundings; basically, think about moving from Facebook to Instagram (both owned by FB) to Snapchat (owned by Snap) to YouTube (owned by Google), all while staying in your chair and using your phone. Metaverse is a 3D avatar-based virtual world, where interactions can be enhanced by Artificial Intelligence (AI) and the use of NFTs (Non-Fungible Tokens — but more on those later). Metaverse would give you access to digital assets across multiple universes without them actually leaving their respective universe.

Virtual reality has been used in medicine, education and business for years now, but Metaverses are on the rise. In fact, it is already present in our everyday lives. Metaverses use Virtual Reality, Augmented Reality or Mixed Reality to put consumers inside of a digital world where they can interact with each other and objects from the real world. Metaverses have an enormous impact on our society thanks to its tendency of eliminating boundaries between people and businesses everywhere by offering a cost effective method to connect with anyone no matter how isolated that person may be from civilization or from technology itself.

The shift into Metaverses began in 2016 when Facebook announced their $2 billion acquisition of Oculus Rift, but Metaverses are exponentially growing in popularity. Metaverse A began when the NFT (non fungible token) standard was set for ERC-721. Through NFTs Metaverses can track items and assets users own inside Metaverses which creates trust between users who cannot see each other’s faces or be heard on voice chat. Metaverse B is CryptoKitties that raised $12 million through venture capitalists like Andreessen Horowitz to allow players trade virtual cats representing 0.001 ETH tokens on the blockchain, creating value with each cat sold equal to its value in Ether while also showing more real world applications of blockchain technology.

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Metaverses offer new ways to connect to friends, family or anyone around the world that one may not have known existed. Metaverses are improving every day while increasingly becoming an important part of our lives.

What will be the Impact of Metaverse Adoption on Our Social Lives?

The Metaverse has all the capabilities to become a powerful social platform; it offers an opportunity for people from different places to interact as if they were all in one place (practically as real as reality).

Imagine this: You plant some agriculture on Metaverse that only you have access to, then you keep watch over your crops as they grow. Only you can harvest those crops because Metaverse is controlled through a decentralized system of nodes and you have complete control over your private key, which Metaverse uses to authenticate your identity. This means that Metaverse gives you the opportunity to form meaningful relationships with others in a virtual world that is completely owned by you. It would be a place where everyone shares one storyline but with infinite re-combinations from which people could crate their own stories, making Metaverse a great platform for social interaction without limitations imposed by third parties.

The Metaverse is here. The future has started accelerating, and the Metaverse is one of its newest products. Whether it be alternate realities like those popularized in Ready Player One or virtual simulations replacing reality, the Metaverse will undoubtedly have a material impact on our lives.

What makes Metaverse unique?

Metaverse differs from most other blockchains, such as Ethereum or Tron, because it’s designed to use NFTs (Non-Fungible Tokens — but more on those later). Metaverse allows smart contracts to be created using the Metaverse Virtual Machine (MVM). Metaverse isn’t owned by any company, so Metaverse doesn't have to rely on data centers and their electricity use/production. Metaverse puts control over individual files back into the hands of its users. Metaverse also uses NFTs as a means for representing virtual assets. NFTs are unique representations tied to one item or entity; NFTs can be used as proof-of-ownership across different platforms similar to how you might treat a copyright in the physical world. Metaverse is also unique in that it uses AI to provide the Metaverse Avatar. Metaverse's Metaverse Avatar is like an online representation of yourself, similar to your Facebook profile picture but with more personality and capabilities. Metaverses Avatar can be shared freely across different entities (be it individuals or businesses), creating a unified user identity on Metaverse’s platform; this would make identification easier for all parties involved and reduce costs associated with identity management and KYC (Know-Your-Customer) compliance — further strengthening the Metaverse use case as a social platform built on NFTs and decentralization.

In Conclusion

The Metaverse opens up new possibilities for social interaction by allowing users to move freely between different worlds, creating a globalized Metaverse where you can interact with anyone on the Metaverse. A Metaverse built on NFTs is also better for things like social media because it reduces costs associated with identity management and KYC compliance. Metaverse is also unique in that Metaverses Avatar can be shared freely across different entities, creating a unified user identity on Metaverse’s platform. Metaverse is built with decentralization at its core and offers smart contracts using Metaverse Virtual Machine (MVM). Metaverse uses Artificial Intelligence (AI) to power the Metaverse Avatar, which can represent users identities without geographical restrictions.

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