Facebook’s CEO Mark Zuckerberg rebranded the social media company to Meta, not many would have clearly understood the big bold step. At that time, Zuckerberg had said that the change will aim to emphasize more on the company’s vision of “metaverse”.
But what exactly is metaverse and why someone like Mark Zuckerberg is getting all pumped up about it? Well, to begin with, he’s not the first billionaire to have flirted with the idea of the metaverse, as Amazon’s co-founder Jeff Bezos has already done his fair share of hanky-panky with the internet’s potential to change how we live.
What is Metaverse?
In simple terms, Metaverse is an alternate virtual reality wherein you get to be you, only much cooler. You can do what you have always wanted to without giving two hoots about what your friends or family will think. There’s nothing to care about, really.
For starters, you can set up your own business or decide to farm or even take a spaceship to another cool planet. But all that will be happening in a digital world that companies such as Facebook, Disney and Microsoft are now aiming to make for us.
You can buy all sorts of digital goods inside a metaverse and can order a similar shoe or a t-shirt in reality if you feel that it will look all good in the physical world as well. However, everything will cost you money – in the digital world as well as in the real world.
But there would be a slight difference. While in the real world, you may have to pay in currencies issued by central agencies, you can pay via cryptocurrencies or digital coins in the metaverse.
How is Metaverse created?
A mix of new-age technologies, such as virtual reality, augmented reality, and blockchain, coupled with the power social media can give life to a metaverse – probably the hottest topic in Silicon Valley right now.
So, get ready to see a lot more people roaming around you with VR headsets plugged-in, probably 24*7, busy creating an alternate life for themselves, buying apparel, food, virtual pieces of art and even real estate.
Where did the idea of Metaverse come from?
Metaverse word was used for the first time in Neal Stephenson’s best-selling 1992 sci-fi novel, Snow Crash, which was pictured in a dystopian world. Other examples of a metaverse were quite clear in the Matrix series and Ready Player One.
But the real history of the upcoming world goes back to the 80s when a scientist named Jaron Lanier had first coined the term ‘virtual reality’. But VR back then was costly. Super costly.
Cryptocurrency in Metaverse
In the metaverse, cryptocurrencies or fungible tokens are taking over the real currency in the metaverse because, in the end, you need simple monies to fuel the ‘digital economy’. And indeed metaverse is one economy that you may want to put your money in.
Cryptocurrencies replace money in the metaverse. They surely work like virtual cash in the metaverse. But thanks to the power of crypto, transactions are fast and smooth, probably unlike the real world.
Most existing metaverses use cryptocurrency as a payment mode. But they can have their own crypto tokens or can accept other popular coins to make the payments easier and simpler.
Top Metaverse Coins That Will Explode In 2022
- Decenterland MANA:
MANA Coin is one of the most popular digital coins that are accepted by most metaverses that have been created so far. While the coin has remained in the red zone for quite some time now, the cryptocurrency is expected to make gains in the coming days.
- Enjin Coin (ENJ):
Another popular coin that is gaining traction in the metaverse is Ennjin Coin. You can use BuyUcoin’s safe and reliable platform to buy and trade Enjin coins that can be spent in the multiverse.
- The Sandbox (SAND):
The Sandbox can be easily bought or sold using a crypto trading platform. Currently, SAND Token is trading at about $3.72, up more than 2.64% in the last 24 hours against US Dollar. It is one of the top metaverse coins.
- Axie Infinity:
Axie Infinity, an NFT-based online video game, deploys Ethereum-based cryptocurrencies – AXS and SLP – to make it easier for users to buy or sell digital assets. It is one of the most expensive NFT collections.
NFT in metaverses
NFTs, popularly called non-fungible tokens, have become an integral part of the metaverses that are currently making the buzz over the internet. For those uninitiated, NFT is a unique and non-interchangeable unit of data, that can be pieces of art, sports trading cards, digital property, or more, stored on a digital ledger.
Currently, NFTs are changing the way the gaming industry works, as they have made the ownership of digital goods really simple. And the fun part is your investment made in a game via cryptocurrency has a real value outside the game.
Metaverse in Gaming- Like Never Seen Before!
Epic Games, the Fortnite developer, has been working in the Metaverse realm for over a year. Recently, a couple of months back, it created a concert by big names like Travis Scott, Marshmellow, and Ariana Grande. During these one-of-a-kind concerts, gamers logged in from their device and watched the concert live. Lastly, they could move and dance (virtually). The event organizers allowed users to buy digital merch to use to raise the bar – just like in a real concert!
Should you invest in Metaverse in 2022?
As of now, Metaverse, in its several forms, is taking baby steps. But firms such as Facebook, Microsoft, and Disney are pouring in billions of dollars so that the concept could take gigantic leaps instead of moving like a toddler.
For many, the idea of an alternate world is hard to digest. But with the rising popularity of remote apps that are helping us stay connected amid the ongoing pandemic, we’ve indeed got a slight taste of what life in the metaverse could be like.
Moreover, the rising adoption of cryptocurrency is also making it easier to trade in metaverses — which otherwise would have been a tough nut to crack, considering the pain of converting real-life into tokens that meant absolutely nothing until now.
Therefore, it could be a really good time to kickstart your metaverse journey, create the digital you, and finally have the fun that you have always wanted in your real life. The platform could be of Meta or Microsoft — it would hardly matter, as long as there are no major glitches and you have no one else, but you, to enjoy an alternate reality in ways more than one.
Even if you’re a first-time investor, you can very well use BuyUcoin’s crypto indicator to plan your trade. Setting up your metavesre account on BuyUcoin is also very easy and simple. Sign up with your e-mail ID, submit the documents for verification and get started in less than 10 minutes. If that isn’t fast, I don’t know what is.