11th Feb 2022

Metaverse : A Virtual World That Lies Beyond

Blockchain

Written By, Bhawik Chawda

Overview

For the last 2 years, Blockchain and cryptocurrency have been a trending topic to talk about, many people are very curious to know what blockchain is and how we can benefit from it.

Today we mostly talk about Bitcoin, Ethereum, Solana, Hyperledger etc, which are almost used for the same purpose but slightly different from each other.

But here in this blog, we are going to talk about the next booming topic i.e 🔥 ‘METAVERSE’ 🔥
which will change the way blockchain can be used.

What is Metaverse ?

If we talk about the word METAVERSE then it is a combination of two words META and UNIVERSE which simply means beyond this universe or unbelievable.

In simple words we can say that metaverse is a virtual universe where individuals can represent themselves with their 3d character termed as ‘AVATAR’, yes you heard this right your own digital avatar, this may seem like any science fiction movie.

It is a digital environment that is created with the help of various technologies like Augmented Reality (AR), Virtual Reality (VR), Artificial Intelligence (AI) etc to create digital objects and people.

What is Metaverse used for?

VIRTUAL INTERACTION: If we look on any social media platform users can share, post, comment, like etc, but in the metaverse, we can hang out with our friends instead of just chatting or calling, we can visit shops, play, dance or anything which we are normally doing in our real life.

VIRTUAL MEETING: Due to the current pandemic situation many employees are forced to work from their home and the most important things which they missed is the office environment and their colleagues. So, what if we create a virtual office and represent ourselves with a 3d avatar, sounds cool? yes.. this is the future of our virtual meeting.

DIGITAL LAND: We have heard about digital assets, cryptocurrency and all, but have you ever thought about digital land ? Yes you heard it right we can buy or sell our digital land on the metaverse platform, we can do anything with our assets which we have in the metaverse platform.

EDUCATION: Education will be on the next level, students not only read the content but visualize it also, which helped them to grasp the knowledge faster and correct.Virtual simulation helped students in the medical or architecture field to rehearse the activity which is quite difficult or complex in real life.

Top Metaverse project

Axie Infinity: It is an NFT based video game which is developed by Vietnamese studio Sky Mavis, which is a trading and battling game where people can breed, raise, battle and trade creatures known as Axies

Decentraland: It is a 3D virtual reality world that was founded by Ari Meilich and Esteban Ordano in 2015 and launched in December 2017. It is powered by Ethereum and its native ERC token known as MANA, which allows users to purchase a plot of land, goods or services in the metaverse environment.

Sandbox: It is an Ethereum based gaming ecosystem, where users can share, create, purchase goods and services in a metaverse environment.VoxEdit is a tool in the sandbox through which user can build their 3D creature and uses an ERC-1155 standard which allows us to create both fungible and non-fungible tokens. All the transactions inside the sandbox platform are done using its native token SAND.

Enjin Coin: It is a decentralized cryptocurrency, which is used to create, manage, distribute and trade virtual goods in a metaverse environment through its native token ENJ. It is connected with over 250,000 gaming communities and 18.7 million registered users.

Render token: It is a network that connects the user who is looking to render their work with idle GPU computing speed. Users who post their render work on the network need to pay an RNDR token as payment for those who accept the rendering jobs.

Future of Metaverse

If we talk about Metaverse, then this concept is not the latest or new. We have heard this concept in many movies, games, articles etc, but for the last 1 year this has been the trending topic to talk about and many people are very curious to know about what Metaverse is?

Since the Facebook CEO (Mark Zuckerberg) has renamed its application from Facebook to meta from that day many people are more curious to know about this new technology and maybe for most people, it is a very new topic to talk about.

So, if a big company like Facebook has taken this initiative to jump into the metaverse then definitely in the future we may have seen many other big companies jump into the metaverse with their great and experimental ideas.

As of now, we don’t have such hardware devices which can ease the usability of metaverse features through various headsets, AI glasses, sensors etc, they are still on research side and various artificial intelligence companies are working on it to make it possible but for the normal peoples like us it will take almost 4 to 5 years to experience the whole metaverse.

Conclusion

Here we come to the end of our Metaverse introduction. In this, we have discovered the Metaverse, how and where it can be used and what are the current top projects of the metaverse. It will be the next big thing in our future but there are a lot of things that are only on paper or in mind and executing it all needs some good time.

Written By,

Blockchain Developer at Yudiz Solutions Pvt. Ltd