What exactly is Web3? 7 Metaverse

By Long ·  

In futurism and science fiction, the metaverse is a hypothetical iteration of the Internet as a single, universal and immersive virtual world that is facilitated by the use of virtual reality (VR) and augmented reality (AR) headsets. In colloquial use, a metaverse is a network of 3D virtual worlds focused on social connection.

The term "metaverse" originated in the 1992 science fiction novel Snow Crash, as a portmanteau of "meta" and "universe". Metaverse development is often linked to advancing virtual reality technology due to increasing demands for immersion.Recent interest in metaverse development is influenced by Web3, a concept for a decentralized iteration of the internet. Web3 and the Metaverse have been used as buzzwords to exaggerate development progress of various related technologies and projects for public relations purposes.Information privacy, user addiction, and user safety are concerns within the metaverse, stemming from challenges facing the social media and video game industries as a whole.

Today's generation is on their phones every day and spends most of their time online. Following this trend the next generation will spend even more time on the Internet. The metaverse gives the Internet a whole new level of interactivity, and it can be said that it opens up a whole new industry of innovation.

The metaverse is more about time, place or virtual reality. For example Sandbox, which is a marketplace in the metaverse where people can buy and sell NFT.

Decentraland - an online virtual world with an expansive map of 100,000 lands, originally sold in 2017, now has a floor price of 1.8 ETH. people can own land, build on that land and customize avatars in it.

People are buying millions of dollars worth of virtual land and creating online identities in virtual worlds. Soon, people may be wearing VR headsets, meeting at home, buying more virtual land, playing more games, and more.

A large part of the 2021 NFT project promises to be compatible in the metaverse, or create their own metaverse!

To be continued

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