Tag: metaverse

Metaverse

The Metaverse is a three-dimensional universe that created when virtual reality (VR) and augmented reality (AR) technology combined.

People are already using VR and AR together to create

  • social networks,
  • gaming worlds, and
  • immersive virtual experiences.

It can accessed with a compatible VR headset or smartphone, or with your desktop.

Virtual worlds

When you access the Metaverse, you placed in a virtual world where you can interact with other users and the environment.

Activities

Some of the activities you partake in include participating in

  • gaming,
  • virtual meetings,
  • attending virtual concerts,
  • exploring 3D spaces,
  • shopping, and
  • exploring different venues for learning.

Blockchain infrastructures

Many Metaverses built on top of the blockchain technology. Blockchain is a distributed ledger technology that stores and records data in a secure and immutable manner.

Allows the data of a Metaverse to be stored in a

  • transparent and
  • decentralized way,

allowing for the users to have full control over the ownership of the assets and data of a Metaverse.

In addition to storing user’s data and assets, the blockchain is used to create the virtual financial system of the Metaverse, using blockchain technology e.g.: cryptocurrency.

This allows the users to make secure transactions and own digital assets.

Digital goods

In a Metaverse, you can buy digital goods which can vary in forms like

  • clothing or accessories,
  • virtual land or real estate,
  • NFT (non-fungible tokens),
  • vehicles, and other items that cused in many different ways.

Digital and cryptocurrencies

The users buy these products using

  • digital currency or
  • cryptocurrency and

use the metaverse’s internal economy to make purchases.

There are some Metaverses that offer virtual shops where the users can make their purchases. The methods of buying goods also vary in the different Metaverses.