Recently, Facebook has rebranded as ‘Meta,’ reflecting that Meta is progressing beyond the existing social network platform by venturing into the virtual reality (VR) space. Since then, the world is talking about something known as “Metaverse”. But unlike popular belief, the concept of the Metaverse has been in existence for quite a while now, and the term ‘Metaverse’ was coined in 1992.
What Is Metaverse?
The metaverse is the next evolution of social technology. The current everyday experiences through the internet are 2-Dimensional (2-D) through screens, but in Metaverse, the same will be 3-Dimensional (3-D). We will experience things via Augmented Reality (AR) and Virtual Reality (VR). This interactive experience of a real-world environment results from sensory modality devices like haptic technology, AR/VR glasses, and headsets.
The Metaverse is a next-generation blockchain ecosystem that delivers “infinite possibilities” for digital societies. The platform has been designed from the ground up to be a world of ‘Infinite possibilities, a decentralized and digital space without limits, which you can fully immerse yourself in.’
As it sounds, it holds the potential to revolutionize our social workspace for educational, professional, entertainment, and retail applications. In addition, the Metaverse will likely become the new digital universe for seamless living with new roads of interaction and transaction.
Will Crypto Be A Part?
The Metaverse project has direct use for blockchain in digital assets. These assets are tokenized representations of tangible assets, which are not physical.
Data breaches, hacks, and phishing are a few cyber-attacks prevalent in the digital space. However, technologies based on cryptography have established their effectiveness in combating these cyber-attacks. For example, blockchain-based technology is an immutable and unhackable solution for online transactions.
Futuristic envisioned that Metaverse would stimulate blockchain development with Decentralized Finance (DeFi). While the predictions aren’t exact, the admittance of Cryptocurrencies is a certainty. Cryptocurrencies will drive the transactions by offering blockchain-based authentications. It aims to connect virtual economies through Distributed Ledger Technology (DTL).
What Kind of Cryptocurrencies Will Be Used?
Smart and high-speed transactions of Crypto make them a preferable medium of trade. Cryptocurrencies like SAND, AXS, MANA, and STARL (primarily based on SOL and ETH blockchain) will be used in Metaverse. The project’s outlook of optimizing the virtual experience and cryptocurrencies enhancing financial services seems a good correlation for virtual space. Thus, Crypto could potentially become the currency of the project.
How to Be Ready For Metaverse With Your Portfolio?
Blockchain is expanding its horizon in all directions. In Metaverse, blockchain will play a crucial role through financial transactions by DeFi. Crypto enthusiasts entering the realm for the first time may find it a bit difficult to manage their portfolios. The Crypto market is highly volatile and full of unknowns. Buyers who make wrong strategies, especially in the early stages of investing, could lose their fortune. Market insight and well-defined strategies allow buyers to diversify their portfolios and reduce the risk.
You can invest in Coin Sets, which are cryptocurrency baskets that provide a range of tokens with different weights to diversify the crypto wallet. Check out the Metaverse Coin Set and get your portfolio ready for the future.
What To Expect From The Metaverse?
As of now, it’s difficult to predict what the future of the project might look like. But if the future takes a turn for the better, there are certainly possibilities that new pathways will open up for us to traverse, thereby creating entirely new opportunities. Since the creation of blockchain technology has enabled so many people to amass incredible fortunes in their lifetimes, it can happen again someday through cryptocurrency investing with Metaverse as one’s primary vehicle!
While uncertainties around the Metaverse obscure the foreseen future, the anticipation of tech giants have given it credence. The fidelity for Extended Reality (XR) to revolutionize the virtual experience complies with the core of the project. The mainstream acceptance of Metaverse will depend upon the joint fusion of cryptocurrencies, blockchain technology, XR environment, security services, and many more factors.
Be ready for the future, with the Metaverse and other Coin Sets and generate long-term returns.