Welcome to the Era of Metaverse Crypto

Multiple Metaverses. Yes, you read that right. But what is the meaning of the Metaverse?

There is no one metaverse out there. Facebook's rebranding to Meta doesn't change the fact that there are multiple metaverses in existence, in multiple shapes and forms.

From Meta's (Facebook's) three-dimensional (3D) vision of the internet to Decentraland's decentralised 3D virtual reality (VR) platform, to the numerous gaming worlds in existence (like World of Warcraft and NFT-based Axie Infinity), there are several metaverse concepts around.

Global powerhouses like Microsoft and Nike are venturing into the metaverse space as well. Let's make things clearer by defining a metaverse.

Multiple Metaverses? What's a Metaverse Any Way?

A metaverse is a virtual universe in which users can interact with one another as avatars in shared spaces to socialise, work and play games. Millennials have been playing games in which users can purchase in-game items like skins and weapons for many, many years.

They are familiar with the concept of in-game purchases and understand NFTs better than most. Companies venturing into the metaverse space are targeting the younger generation (those born in the 1990s and after) and should try to leverage the power of NFTs as well.

Using NFT Technology

Using NFT technology in the metaverse sphere may enable users to move digital assets from one metaverse to another – how cool is that? It is safe to say NFTs will underpin the metaverse sphere and enable users to claim ownership of digital assets like art and music.

That said, there is much more to the sphere than just digital asset ownership. As a 3D vision of the internet, the metaverse will enable you to attend meetings, concerts and other events of importance in the virtual form (as a hologram).

Of course, this concept is one for the future and for now we must enjoy the many metaverses that are currently at our disposal.

More Metaverse news.