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Metaverse can be described as if you and your friend live in two separate continents and you can sit on the same couch and chat whenever you want! The world is actually a virtual version of your work, life and recreation.
In this article, we review the concept, importance and features of Metaverse and take a look at the applications of this virtual world. We will learn more about the role of digital currencies in it, how to enter Metaverse and buy land in this space, and we will introduce a number of top Metaverse platforms. We will also answer some frequently asked questions. We recommend that you do not miss this reading article.
What is Metaverse?
Metaverse is a virtual and three-dimensional (3D) space universe that provides users with digital experiences as an alternative or second version of the real world through augmented reality (AR) or virtual reality (VR). This word was first used in the novel Snooker by Neal Stephenson.
Metaverse is an online and shared 3D space where users can create their personalities in digital formats and interact with each other and with virtual objects and avatars. Metaverses are actually virtual worlds that can be a reflection of our real world or completely different from it.
In this virtual world, it is possible to interact virtually with other people, trade goods, exchange currency, buy and sell property, invest, attend work, hold festivals and events, watch concerts, visit exhibitions and many other real life activities.
How does Metaverse work?
Metaverse offers its users a unique experience of combining virtual and real worlds. This virtual ecosystem transcends physical and geographical boundaries and allows people to meet and interact in a three-dimensional space or participate in group activities such as games and competitions.
With the possibility of remote communication, you can be directly present at work or conference or live events from your home; Conditions that are very helpful especially when it is not possible to travel to participate in some events. Metaverse is a virtual place to enjoy the best benefits of education, work and entertainment without the need for physical presence.
Companies and large businesses can also enjoy the competitive advantage of international advertising in Metaverse without obtaining permission from intermediary institutions or third parties and allow their customers to remotely check all available options for purchasing goods or receiving services.
What is an avatar in Metaverse?
Avatars are two-dimensional or three-dimensional images that represent the personality of users in the Metaverse. They are actually visual identifiers to express the identity of people in the metaverse and can be fixed or mobile.
These images may be similar to users’ own faces; But most of the time it is not like that. It should be noted that many avatars are in NFT format.
Metaverse history?
The term metaverse was first used in the novel Snow Crash by Neal Stephenson in 1992. In this novel, the programmed avatars of humans interacted with each other in a three-dimensional environment. This 3D environment was actually a metaphor for the real world of us humans!
With the emergence of blockchain, blockchain games and technologies such as virtual reality (VR) and augmented reality (AR), Metaverse is also oriented towards these technologies and decentralization. Now, metaverse ecosystems have been formed that owe their decentralization and security to blockchain and are basically based on blockchain platforms.
The strengthening of the metaverse in the blockchain can be found in the performance of digital assets and NFTs, which are currently leading in various fields, including gaming and the production and sale of works of art and the purchase and sale of virtual lands.
The impact of Facebook and Meta on the Metaverse
Metaverse is not a new concept; But the interest and acceptance of this virtual world increased when “Facebook” entered this market and changed the name of its company to “Meta”.
The buzz of this rebranding brought attention and a stunning rise in Metaverse-based digital assets such as Metaverse NFTs. This issue made the phrase “buy Metaverse Facebook” one of the most searched by users.
The main elements of the metaverse
Metaverse relies on five main pillars:
virtual reality (VR)
augmented reality (AR)
3D world
Web 3.0
Blockchain
Virtual Reality (VR) and Augmented Reality (AR)
Technologies such as virtual reality and augmented reality are the main components of the Metaverse and the source of creating three-dimensional and immersive experiences that blur the border between the real and virtual worlds.
These technologies, which can make virtual space available to users in a three-dimensional form, are of great help in holding concerts, shows, educational conferences, revenue-generating games and any other event that links reality to virtual space.
3D world
The experience of living in a 3D virtual world is what makes the universes more attractive. In fact, the Metaverse wouldn’t be what it is today without a 3D graphic.
With the emergence of technologies that help to create 3D universes, universes have also entered a new phase and today their applications can be seen in every corner of the world.
Web 3
Web 3 is a new generation of the Internet that makes the user’s role more prominent than ever and hands the ownership and control of digital assets and online content to the user. Web 3 brought NFTs into the virtual world and was a revolutionary move in the development of the Metaverse.
The Internet of Things (IoT) also provides a common language for all devices, enabling a large volume of data to be processed and analyzed at a faster speed than humans while communicating with each other, and the possibility of using the tools used in the Metaverse. It can be done easily.
Blockchain
Blockchain is one of the main pillars of the universe, which, in addition to decentralization of this space, also ensures the security and privacy of users. The storage and validation and safe transfer of data in this virtual space depend on decentralized blockchains.
Also, any kind of valuable asset in this world can be valued and exchanged only through Metaverse currencies. It goes without saying that these currencies were also created on the platform of blockchain.
What are the uses of metaverse?
In general, the uses of Metaverse can be summarized as follows:
Playing and making money from metaverse games have also created a social and advanced environment for user interaction, which distinguishes them from other games based on virtual reality; Because the player can make money from them.
Online shopping is one of the attractive features of Metaverse; For this reason, many fashion companies try to advertise and sell their products with new meta-versa methods. In the meantime, artificial intelligence (AI) also helps manufacturers to have a better understanding of the activity, purchase rate, taste and characteristics of the product audience.
Social networks The undeniable influence of the universe on social networks can be clearly seen in the change of name of Facebook to Meta in October 2021. This event was the beginning of a new wave of attention and investment in this area.
Banking and financial affairs also underwent changes with the advent of cryptocurrencies, and the goal of many metaverse projects is to provide access to banking services to people who are deprived of these services.
Tourism and tourism
The impact of Metaverse on the world of education is progressing in a significant way. In fact, the use of tools in the world of Metaverse, such as virtual reality, has made it possible for all people from anywhere in the world to use authentic training in other places with a higher quality than before.
Even the medical field can use Metaverse. In fact, this technology has created a world in which surgeons can perform remote surgeries in addition to examination and diagnosis using medical robots.
How to make money in Metaverse?
Buying and selling Metaverse land: one of the main ways to earn money from this field is buying and selling land. Platforms like Dicentraland and Sandbox provide you with such a possibility.
Renting assets: by renting assets in Metaverse games, you can have a reasonable income in addition to your main job.
P2E games: Play to Earn is another attractive option. In these games, you can get NFT tokens or in-game tokens by playing. We suggest you read the article “The best blockchain games”.
Metaverse design and programming: If you are a designer or programmer, we suggest you enter the metaverse space because the income is very good!
Holding an event in the virtual world: many famous singers such as Snoop Dogg have held concerts in the Metaverse and many companies have also held events in this space.
Buying Metaverse Tokens: One of the most straightforward ways to make money from this area is to buy tokens that operate on Metaverse. In the following, we have introduced the best Metaverse tokens to you.
How to enter the metaverse?
The only tools required to enter the world of Metaverse are a computer and a suitable internet connection. Needless to say, virtual reality glasses or headsets provide a more complete experience of the metaverse. But contrary to popular belief, you don’t need to have virtual reality devices to access Metaverse, and sometimes just a smartphone can connect you to many Metaverse platforms.
In general, go through the following steps to enter Metaverse:
Choosing a Metaverse platform
In the next step, you should choose the Metaverse platform according to your needs and then create an account on that platform. Dicentraland and Sandbox are among the most famous metaverse platforms.
Search in Metaverse
The last step in the process of entering the universe is to search the intended platform. These worlds are full of new options that you may not find on other digital platforms. Thus, you can learn more about the various functions of your favorite platform and choose the activity you want.
Metaverse companies
During the last few years, many companies have increased their activities in the field of metaverse and by designing programs and introducing technologies such as virtual headsets, they have expanded the way to enter this wonderful world and use it in general, which include the following Cited:
Google: This company is currently working on two projects, Iris and Starline. These two projects focus on metaverse and metaverse hardware.
Meta: Meta, which used to be called Facebook, has now put all its might into universes and is trying to become the number one platform in this space.
Apple: With the introduction of Vision Pro in 2023, Apple also entered a metaverse competition and now we have to wait to see how it will perform.
Microsoft: Microsoft is one of the few companies that, in addition to a powerful technology arm, also has a powerful gaming arm, and this issue can pave the way for it to compete with the giants of Metaverse.
Samsung: The company has held several Metaverse events and is gradually integrating Metaverse with its new phones. Samsung’s plans to enter and strengthen its foothold in this space indicate its focus in this area.
Epic Games: This company announced last year that it is working with LEGO to shape the future of the Metaverse!
The best Metaverse currencies
In this section, we take a quick look at some popular Metaverse platforms and their specific cryptocurrencies.
Decentraland
Dicentraland is a virtual world for buying and selling and developing metaverse lands. Also, it is possible to hold meetings and events along with interacting with other users in Dicentraland. To buy and sell in Dicentraland, you need to get Mana token (MANA).
Sandbox
Sandbox is one of the most popular platforms for buying and selling land, along with the possibility of creating in-game items in the form of unique tokens and selling them, and these transactions are done using the token (SAND).
Axie Infinity
Oxy Infinity is one of the popular Metaverse games with interesting creatures called Oxy that you can buy, breed, send to battle and then sell for a higher price. Oxy Infinity has 2 tokens named AXS and SLP.
Gala Games
Gala Games or Gala is a blockchain games platform that combines the excitement of sports with the possibility of buying and selling unique tokens and allows you to earn money using the Gala token (GALA).
Metahero
Metahero is a platform for 3D scanning and creating characters based on real people and physical objects. Metahero’s token is “HERO”.
Alaine Worlds (TLM)
Alien Worlds is a blockchain game that takes place in a 3D metaverse. Alien Worlds takes place in a galaxy that includes planets, moons, and other celestial bodies. Players can move freely in this metaverse and interact with other players. Players can mine Trillium Tokens (TLM) in this game.
What is the future of Metaverse?
What we know today as the metaverse is still in the beginning of its evolution and its capacity to change the way we all live is unlimited. The 13-fold growth of virtual lands in Dicentraland and Sandbox platforms from 2021 to 2022 is a good representation of this capacity. Also, according to reports, it is predicted that the market value of this ecosystem will reach more than 800 billion dollars by 2024 compared to the value of 500 billion dollars in 2020.
The entry of famous brands such as Adidas, Gucci, Samsung and the big bank JP Morgan into these platforms highlights the value of this virtual world even more. However, the future growth or stagnation of Metaverse will depend on the level of users’ acceptance of platforms in this area.
Undoubtedly, providing the necessary conditions for the development of businesses, e-commerce, sales and marketing along with decentralized finance can be the key to the development of Metaverse. We have to see how much the level of experience that this virtual world provides for its users can attract more people.
Frequently Asked Questions
What is the price of land in Metaverse?
Currently, the price of Metaverse lands varies between 0.37 Ether (equivalent to 650) and several thousand Ether (equivalent to several million dollars). Leaving aside the astronomical prices of certain lands, you can buy a decent Metaverse land for about 1.1 Ether, which equates to $2,000.
How can you buy land in Metaverse?
There are two general ways to buy land in Metaverse, which are talking to a Metaverse real estate agent and buying directly from platforms like Sandbox.