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Metaverse is a concept which has gained immense popularity in the past 3 years. The concept comprises of an online three-dimensional universe which further consists of several virtual places within the virtual universe. The closest or perhaps the best description of Metaverse can be seen in modern day online video games with multiplayer options. The purpose of the concept is to engage real-life people with virtual objects in a virtual space where they can engage with each other.
Although the concept of Metaverse has been fully in existence now, yet it is one such which is incessantly evolving. For instance, the developers of Metaverse projects have developed in-game virtual economies which are being used very actively. Every Metaverse project, which is particularly based on the blockchain technology, has its very own virtual economy. This in-game currency is used to buy virtual lands, objects and items which are used within the game by the users. This is why cryptocurrencies became the first choice for taking on Metaverse economies.
According to Ido Fishman the purest form of Metaverse could be seen in the modern day video games. This is so because the Metaverse games are 3-D based games and host multiplayers joining the network from all over the world. However, the connection between video games and Metaverse is not because of 3D only. In fact, the modern day video games have been offering diverse services as well as features to their players and users.
The best example of this could be seen in a very popular online 3D game hosting Metaverse called “Roblox”. This very game has been hosting virtual concerts, players get together, competitions and events etc. from time to time. Games are not the same as they were in the times of Atari or Nintendo. They have changed a lot and in fact provide cyberspaces where reality and fiction meet with each other. Very recently, a virtual music tour was hosted by a Metaverse game known as “Fortnite”. The event was attended by more than 10 million people joining from different parts of the world.
In the judgment of Ido Fishman, Metaverse projects are not running at their fullest potential. Currently, Metaverse projects are mostly video game based and therefore the use is limited, perhaps for the time being. However, in the very near future, it is expected that these projects will achieve their fullest potential. For instance, the primary object of Metaverse is to provide a virtual space where people can meet each other and perform their usual activities of life.
For example, Microsoft has been working on a Metaverse project which the company wishes to launch very soon. Microsoft’s Metaverse project would provide for a virtual customer support and assistance space. At this place, customers would be able to meet up officials of Microsoft with their real-life avatars. At here they will discuss their issues in detail and seek guidance on the resolution of the problems.
The concept of Metaverse has innumerable benefits and advantages and one great advantage is the opportunity of income generation. However the opportunity of earning is not just for the developers or game or Metaverse owners. Instead the opportunities are equally available to developers, promoters, investors, gamers and users.
The simplest example of great income generation can be seen from the fact that Metaverse projects such as Axie Infinity and The Sandbox have generated billons. They auctioned in-game cyberspaces which were in fact bought by public at whooping sale prices. Celebrities, businessmen as well as gamers from the general public actively participated in the sales.
Similarly, virtual lands are regarded as genuine assets and therefore they can be further sold by their owners. Even the banks are exploring the possibility of investing in Metaverse and several globally acclaimed banks have already showed their interests in such projects.
It is the belief of Ido Fishman that the day is not so distant when there will be a united Metaverse. Blockchain technology has many uses of which the mankind is not aware of yet. However, consistent use of Metaverse and blockchain would greatly impact on our daily lives in the near future. So keep on visiting us and our other related pages for keeping yourself updated on the latest developments in ongoing and upcoming Metaverse projects.
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