Facebook CEO, Mark Zuckerberg, announced the rebranding of Facebook to Meta Platform Inc, connecting to a growing and booming phenomenon called the Metaverse. And many giant companies have come to plant metaverse applications and gaming platforms over virtual and augmented reality.   Let’s dive in!   

What is Metaverse?

  The author of Snow Crash, Neal Stephenson, coined the term “Metaverse” in 1992. Metaverse is a virtual world in which people, businesses, and digital platforms are interacting with each other with the help of some VR platforms. Metaverse will offer a variety of virtual experiences and environments where people can play, work, attend school, go shopping, concerts. In VR games, the similar way of experience within the game environment. Some games with multiplayer could join from different locations, are tending to meet and play each other or as an opponent based on the game rules. But gaming is like a two-dimensional world with we cannot feel that we are living inside that environment. But in the case of the metaverse, we have a feeling of a three-dimensional world where people interact with each other with the help of modeled avatars.    Different companies have different business perspectives in Metaverse, According to Facebook the metaverse is a set of virtual spaces where you can create and explore with people with different physical environments.   The Oculus is a VR platform provided by Facebook, metaverse applications are developed for the Oculus platform. The Horizon world is an initiative by Facebook. Horizon world is a metaverse environment with avatars of people that can interact with each other, expecting to launch soon on Oculus platforms.   Metaverse is not a game or online conversation room, it is a virtual universe with people who exits as an avatar and are able to buy digital items. Simply transforming physical reality to digital virtual World.

How Non-Fungible Tokens supporting Metaverse

  In the future metaverse is a place for selling, buying, and transactions using digitized tokens and cryptocurrencies. NFT is taken control over here by granting true ownership of digital items. Now various companies are looking to combine the metaverse and NFTs ,aiming to interact online .For example, decentraland with land LAND tokens provided that prove ownership of metaverse real estate.Decenterland allows users to sell and buy digital real estate using native token .   Metaverse and NFTs are the future of the internet. Both offer public space for people to create and own virtual property. Brands like Burberry are already creating NFT fashion lines, Ariana Grande and Travis Scott are performing virtual concerts, indicating that the metaverse will be taking control in the future.    There are a lot of advantages and disadvantages in metaverse when it comes to handling. Anyway VR and AR experience might be helping in different business sectors, let's hope the metaverse future will help mankind in a good way.

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