What is the Metaverse? Crypto Games with NFTs
Metaverse - Crypto Games with NFTs
To many, the Metaverse may seem like nothing more than a fancy tech buzzword, but in recent months, the concept has garnered mass attention and discussion, especially following October 2021 when social media giant Facebook decided to change its parent company’s name to Meta and share its vision for building out the emerging Metaverse space. But what exactly is the Metaverse and how does it work? How is it related to NFTs and gaming? Read on to find out!
Believe it or not, the term “metaverse” was originally coined back in 1992 by author Neal Stephenson in his dystopian science-fiction novel, Snow Crash wherein humanity spends much of their time inside a massive shared virtual reality world as a form of escapism. Here, the Metaverse is an advanced futuristic version of the Internet, and it seems the present-day Metaverse is starting to head in a similar direction. Note however, that today’s Metaverse isn’t one specific destination or thing. It’s a living, breathing idea that is still in its very early stages, actively being molded and influenced by both web users and corporations alike.
How can one define our current Metaverse? Take a moment and try to imagine an amalgamation of the following concepts: virtual worlds, digital socialization and entertainment (like gaming and streaming), decentralization, blockchain technology, virtual, augmented, and mixed reality (VR/AR/MR), and virtual economies (including cryptocurrencies and NFTs). Together, these elements all make up a conceptual ever-evolving online universe of interconnected platforms and experiences collectively known as the Metaverse (usually denoted with a capital M).
Self-expression and true ownership over digital assets are a big part of the Metaverse, with many taking on personas in the form of virtual game avatars, pseudonyms, and/or NFT avatars which can be carried throughout it. NFTs also play a large role in various virtual economies and video games throughout the Metaverse, acting as proof of ownership over a wide range of digitized items, characters, or media, and are often used within and traded throughout different game worlds. The Sandbox and Decentraland are two examples of popular metaverse game worlds where players can create a virtual avatar and explore, build, socialize with others, attend events, and buy or sell NFTs of in-game items and accessories using native cryptocurrency tokens.
All in all, the Metaverse has a lot of moving parts and is still taking shape day by day. It will take some time before it coalesces into a more recognizable form, but until then, its fragmented decentralized nature will continue to spawn a vast array of exciting new digital experiences, all of which share the same underlying thread connected to a bigger whole that’s revolutionizing the online world and changing the way we interact in our increasingly digital lives.
The Metaverse - Crypto Games with NFTs Info
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