The Metaverse By Michyele
The metaverse is a concept of an online 3D universe that combines multiple virtual spaces, allowing users to create avatars to interact with one another virtually. It is a future iteration of the internet and is at the forefront of Web3 technology. The metaverse will enable users to work, meet, game, and socialize together in these virtual spaces.
Although the metaverse is not yet fully in existence, some platforms contain metaverse-like elements, such as Decentraland, Sandbox, and Ubuntuland. Currently, video games provide the closest metaverse experience, with developers pushing the boundaries of what a game is through hosting in-game events and creating virtual economies.
Cryptocurrencies can also be a great fit for the concept of the metaverse. They allow for the creation of a digital economy with different types of utility tokens and virtual collectibles (NFTs), which have been banned by Rockstar games but are still traded on role-player servers. The metaverse would also benefit from the use of crypto wallets, such as Trust Wallet and MetaMask, and blockchain technology could provide transparent and reliable governance systems for the metaverse.
Many global conglomerates have announced their intentions to join the metaverse, such as Nike, Apple, and Sony. However, the decentralized aspects of the blockchain industry are also allowing smaller players to participate in the metaverse's development.
Many organizations are also embracing Web3 platforms by looking into the staff for proposed metaverse jobs, as the metaverse will combine all aspects of life in one place. Web3 has already become an integral part of many people's lives, with a significant portion of the population working remotely. The metaverse creators aim to incorporate this into the metaverse, allowing users to enter a 3D office and interact with their colleagues' avatars.
Your job may also be metaverse-related, providing you with income that can be used directly in the metaverse. Many global corporations are linked with cryptocurrency payment plans, enabling users to purchase items in real life with currency earned in the metaverse. These types of jobs already exist in a similar form, with play-to-earn models providing steady income streams for people worldwide. These online jobs are great candidates for metaverse implementation in the future, as they show that people are willing to spend their time living and earning in virtual worlds.
Play-to-earn digital trading card games, such as Gods Unchained, don't even have 3D worlds or avatars at the time of writing. However, the principle remains that they could be part of the metaverse as a way to earn money entirely in the online world. This concept is a bright light for the future of the metaverse, as the digital trading card market is currently valued at $131.1 million, with significant increases forecasted for the next financial quarter.
While a single, united, and completed metaverse is not likely to come within the next few months, we as a community can see developments that may lead to its creation shortly. Avid followers of the proposed technology know that this seems to be a shining light within the Web3 phase, as we creep ever closer to a real use case study, applying this technology along with blockchain technology to everyday tasks and real-life issues. We are on the fence as to whether or not we will ever truly reach the point of a metaverse being put into practical existence. However, in the meantime, we as a community can already experience metaverse-like projects and continue to integrate blockchain more into our daily lives, with the hopes of being ready for when the metaverse finally arrives.