Metaverse is a science fiction term "old and new". Old is because it has been around since 1992; in the novel Snow Crash by Neal Stephenson. However, in recent years, when blockchain, NFT gradually became popular. Metaverse suddenly "new" back and was noticed by many large and small companies around the world. So what is Metaverse? What is the role of Blockchain, NFT in Metaverse? What is the future of Metaverse? All will be in today's post.
The new "step forward" of the Internet Metaverse
What is Metaverse?
Metaverse is understood as a “Virtual World” and it is built on the blockchain platform. In simpler terms, this is a term to talk about a world that exists parallel to reality.
Users will be free to create in this virtual world; thanks to virtual reality support tools such as VR, AR. All barriers are almost removed; Prejudice or gender issues are not a big deal in the Metaverse.
Origin of the Metaverse
As mentioned earlier, the term Metaverse is not new. In the novel called Snow Crash by Neal Stephenson; It is described as a place for people to interact with each other in a virtual world.
Thus, the term Metaverse was born before the age of the Internet. The word Metaverse itself is also a combination of 2 words:
- Meta: Beyond – go beyond.
- Verse: In Universe it means universe.
Therefore, Metaverse means "beyond the existing universe".
What are the characteristics of Metaverse?
- Sustainability: The ability to maintain and be persistent in improvements to an ecosystem or the services therein.
- Immersion: The level of realism of the Metaverse, this is the measure of our experience in the Metaverse compared to reality.
- Openness: Openness, this means participants are free to connect or disconnect at any time. At the same time this should be an open space – where there are no limits to creativity.
- Economic System: An economic system parallel to the real world. This means that participants can easily transfer their assets between Metaverse and the real world. Besides, participants also increase their assets when there is a "breakthrough" in the Metaverse.
Why Metaverse became so popular
At this time when the pandemic is still a threat to the world; it also makes everything work online. Metaverse gradually became a more understandable concept; It deals with experiences, digital assets and digital environments. It all comes together and opens up a new development path for the Internet.
An economic model on the Metaverse platform is expected to be built on blockchain and NFT developments. A place that can help people exchange and buy and sell their digital assets.
What is the importance and role of the Metaverse?
Today, the rapid development of the Internet and Smartphone has created a flat world with 2D screens. However, the ultimate destination of technology does not stop here. And look no further, Metaverse is the next destination – the place to turn everything 2D into 3D. From there, people will be able to imagine and experience the world Web3 most natural and complete.
The field of education today is one of the clearest examples of the role of the Metaverse. Traditional classes are forced to change to online; using Zoom, Google Meet, …. However, this is not the optimal way to learn; when the interaction from teachers and students is only shown on the computer screen.
Therefore, using VR virtual reality support tools in lectures is a method being researched by many universities. So what is the role of Metaverse in this case? It is to provide a virtual space where students can interact directly with teachers.
Misunderstandings about Metaverse
If you're new to what Metaverse is, it's inevitable that misunderstandings will arise. Such misunderstandings could be:
- Metaverse is more than just a game. A true Metaverse wouldn't be built on an NFT game alone. Is this just a digital economic model encapsulated in the transaction of NFTs. What is a true Metaverse? A space that can expand and connect with other virtual spaces.
- Metaverse is a virtual world, not a "virtual reality(VR). VR technology is just one of the tools that make up the Metaverse. Therefore, not every game that wears VR glasses has entered the Metaverse.
- The connection of Metaverse is stronger than the Internet because you will feel the space, the feeling in the Metaverse. Completely different from the screen-only interaction of the Internet.
In addition, the term Metaverse is also used as a tool to "mine money" from projects. Therefore, you need to know well to not be overtaken by the developer.
Potential Metaverse game
There are currently 5 dominant virtual worlds: Axie Infinity, Somnium Space, Cryptovoxels, Decentraland and The Sandbox. For the most part, these virtual worlds are still sparsely populated. However, as the future of Metaverse is accepted and developed in value; These are brilliant games.
Ways to invest in Metaverse
- Buy and sell original NFTs of games specifically built and used only within the Metaverse (e.g. Axie Infinity's Individual Axies).
- Governance token exchange.
- Invest in digital parcels of land and generate revenue while developing potential value.
What future for the Metaverse?
- Metaverse has been growing immensely; become the trend of not only the blockchain industry; but also of the Internet world in general.
- NFT game projects such as The Sandbox, Decentraland, Somnium Space, ... consecutively launched have proved the Metaverse's hotter than ever.
- BakerySwap – a decentralized exchange is also building a blockchain entertainment world and developing its own Metaverse ecosystem.
- Soon, a 3D global fashion festival will be held on the NFT platform. This will be a great opportunity for fashion brands to introduce products into Metaverse.
This is not the time to ask what Metaverse is. This is the countdown to the beginning of an explosive Metaverse future.
What role does NFT play in the Metaverse?
NFT is expected to build a new digital economy where people will increase their income anywhere. So to better understand the connection between NFT and Metaverse, you need to know what NFT is? And in what form does the NFT exist, how does it work in the Metaverse?
What is NFT?
NFT has ceased to be an unfamiliar term for those interested in Crypto and blockchain in recent years. Understand simply; NFT is a non-fungible token or Non-Fungible Token.
Each NFT will be unique, non-disappearable, non-replicable. Once you own 1 NFT, you will have it forever (unless you exchange or sell it to someone else).
In what form does the NFT exist?
- NFT form 1: NFT is purely in the form of tokens, owners can exchange them like in-game items.
- NFT form 2: NFT associated with digital works
- NFT type 3: NFT tied to tangible physical assets
In Metaverse, what is NFT, in what form?
If you are holding 1 NFT in any form; whether it's a big CryptoPunk or a cute penguin (type 2); or a “private” piece of land in Decentraland or The Sandbox Land. Or when you use an electronic avatar to join a meeting, it means you have been participating in the Metaverse.
What are the reasons NFT Game builds towards the Metaverse?
E-sport titles always have a large number of players; but none of the games mentioned or mentioned what Metaverse is. Particularly, the NFT game projects mentioned and emphasized this a lot. Even many NFT game projects to attract players even use Metaverse as a ridiculous Pr game. So where is the problem?
- You need to understand, games like Second Life or The Sims will help you build a virtual world. But the value of games created is purely entertainment; and participants have no or very little monetary benefit. All the "assets" they earn in the game are just the founder's script. Because of that, these games cannot build a digital economy.
- The value of the "assets" of the participants of the NFT game project will remain valuable; or even multiplied by uniqueness. This will help the connection between the real world and the game become closer. In other words, this is the beginning of the Metaverse.
- Another factor for NFT Game towards Metaverse, is the time that people spend in the "virtual world" more and more. And as more and more people know what Metaverse is and know about NFT titles; the more time they spend on it. Because they can feed themselves in the Metaverse.
Is Blockchain the Ideal Platform for Metaverse Development?
Today, when the Covid-19 pandemic has made people spend more time in the virtual world. Then this is the opportunity of NFT Game, and also an opportunity for you. However, you should also have some knowledge of blockchain – the platform that hosts NFTs. To know what blockchain is? What is the role of blockchain in Metaverse? What are the effects of blockchain on the future of Metaverse?
What is Blockchain?
Blockchain is understood as blockchain technology, allowing data to be transmitted securely thanks to a complex encryption system. It is similar to a corporate accounting ledger; where money is recorded and closely monitored in every transaction.
Each generated block contains information about the initialization time and they are linked together (the new block is linked to the previous block). In addition, blocks include transaction data and a timecode. Once the data has been accepted, it cannot be changed. Therefore, blockchain was created to prevent data fraud.
What is the role of blockchain in Metaverse?
If you've been following along from the beginning of the article until now, you probably know the future that Metaverse is aiming for; is the use of technology to create a virtual world that exists parallel to the real world. But in that virtual world, you can do everything similar to the real world: interact with each other, play games and create.
To do this will be thanks to the support from technology including blockchain, Game, virtual reality support technology, .... In it, Metaverse will rely heavily on blockchain technology and Game. To explain this dependency you need to understand the main core of a Metaverse. That is, participants will have virtual identities and own virtual assets. There is therefore a need for a reliable open source code and a fair economic system.
What is the role of blockchain adoption? With the help of blockchain technology; The security of the user's identity and virtual assets will be guaranteed. Exchanges in Metaverse will be transparently executed. Users not only have immersive experiences in Metaverse; but also create circulation value and shape the digital economy.
What opportunities for Marketers?
Metaverse creates a "world" in which people can feel everything. We can also create, experience, discover and build new ideas with a whole new perspective.
At the current point, marketers are always searching and optimizing data sources from Google or Youtube channels. Then in the not too distant future, Metaverse will be a new and more reliable data mining channel. It can be said that the future of Metaverse is also the future of Marketers.
In short, what is Blockchain? As a tool to prevent data fraud, it is the foundation of the development of NFT games and Metaverse. What is NFT? Tokens have a unique value and cannot be changed. What is Metaverse? Is the future of the Internet and it's not a game. Although no one can predict what the Metaverse will look like or when it will be adopted. But the development of blockchain; NFT game has implicitly confirmed the brilliant future of Metaverse.
Maybe at this point, we think that prospect is very far away. But no, at the rate of technology development today. The possibility that the Metaverse will become a reality in the next few years.
Continue tracking Communication DPS to read more about the future of Metaverse; and keep up to date with the latest marketing trends. In addition, we also provide services such as Logo design service, Lazada booth design service, …. Contact hotline 0932813311 for advice and quote!