The Battle for Metaverse Supremacy: How Tech Giants Fight For It

The Metaverse. What used to be a unfamiliar term has grown into a big futuristic aspect that everyone has heard. There are many companies racing to establish dominance within this virtual world. Every day, the idea of a virtual world is becoming more a reality. Hence why companies like Facebook, Google, and Tencent investing heavily in the development of the Metaverse.

What is the Metaverse?

The term Metaverse. Everyone has heard of it, but what is it exactly. What is this term that has so much influence that Zuckerberg rebranded Facebook into Meta?

In short, the Metaverse is a shared, 3D, virtual space where people can live and do all kinds of things. Furthermore, they can also experience things they might not be able to do in their physical life.

The Metaverse can be accessed through two ways:

• Virtual Reality, This is a simulated 3D world which people can use to interact with their virtual surroundings. One interacts with this world through a VR headset. If one wants to have the total experience, they can use entire body suits including gloves and vests which give an even more life likely experience through all their senses.

• Augmented reality, This is more a digital addition to real life. AR adds a digital overlay on the real world through lenses or glasses. Users are still able to interact with real world events. However, the person can, by using these glasses/lenses, add digital aspects to it.

NFT’s in the Metaverse

Non fungible tokens (NFT’s) are 100% unique. Therefore they are used as digital certificates of ownership which runs on the blockchain. Most NFT’s are created through digital files; mostly photos, videos or GIFs. It takes a lot of skills to create a NFT, more of which you can read about in this?TechBehemoth’s article.

Because NFT’s are this digital form of ownership, it has multiple?uses within the Metaverse. If one wants to buy a virtual form of real estate, or land, it will be sold as a NFT. If you want to view and sell art within the Metaverse, you sell the NFT. This will give ownership towards the buying party.

Read more at https://techbehemoths.com/blog/metaverse-supremacy-battle