Metaverse, cryptocurrencies and NFTs

The change of name from Facebook to Meta and the proposal to create a totally immersive virtual world have marked a before and after in the technological, economic, social world. Besides, in addition cryptocurrencies would play a fundamental role in mutual coexistence.

Within this equation, we also have to add NFT (Non Fungible Tokens) which is a digital token that is unique, there is only one authorized token for each person. The value will be linked to collecting since it will give exclusivity to the buyer because he will become the only person in the world who owns it.

An example is when the first tweet was brought for 2.9 million dollars as an NFT by Sina Estavi. Now he has tried to sell it for almost 48 million and the maximum offer is 280 dollars. Therefore, the value of NFT is to certify the unique exclusivity status of the associated digital creation and it can be anything.

The relationship between NFT and the metaverse may be shocking to people outside of these kinds of digital worlds, but it would be transferring data and purchases between the physical and digital worlds. To understand it, we could go to a mall and buy clothes by our avatar and then go eat something to have it delivered to your physical home.

This raises the effective transfer of data and purchases between the two universes. This is where Web 3.0 comes in, which is based on the creation and exchange of digital assets like NFT using the blockchain. This is the key to link the metaverse with NFT.

Within this digital world, the natural thing would be to carry out transactions with digital currencies that could suppose the authentic establishment of the digital economy. The usefulness of cryptocurrencies depends on speculation and investment with them.

In any case, this developing digital world will be the evolution of the Internet as it could become a workplace and thus meet virtually and have all the necessary tools. Having fun since it would allow us to go to a concert and live as if you were there with the public and the artist or group, massive events would have the option of being hybrid, face-to-face or virtual. It would also allow us to buy, thus making online shopping more real.

It is not yet known when the metaverse will be available, but Mark Zuckerberg assures that it is a project that can be ready between 10 and 15 years. The platforms that work in the metaverses need software and hardware developments to give the best possible experience to each of the users.

The advances of the leading companies are notorious and it is expected to increase investment in the coming years. The companies that are at the top of the project are:

? Epic Games: this company announced an investment of 1,000 million dollars that will allow it to develop the social experiences that the metaverse implies. Sony Group has also contributed 200 million and, in this way, enters fully by contributing its technology and its entertainment channels to the project.

? Meta: Since the founder of Facebook acquired the company specializing in virtual reality glasses, Oculus, the company has developed initiatives to create the metaverse. One of these most developed proposals is Facebook Horizon, which is an online video game that allows you to create your own avatar and interact thanks to virtual reality glasses.