Metaverse Investing: How nfts, Web 0, Virtual Land and vr are Going to Change the World as We Know It

Chapter 1: Metaverse: All You Need to Know

You are on a beautiful island in the Caribbean surrounded by white sand and crystal-clear turquoise water. You take a leisurely cruise around the island on your boat. There are exotic plants and all your favorite animals. Your cruise is interrupted by a gentle sound. It is time for your math class. You enter your classroom, and your teacher from India has some trigonometry in store. During recess, your best friend joins you on your boat to have more fun. Eventually, you get bored with the Caribbean and decide to go to Japan instead. There is more fun at the karaoke parlor, where more friends join you.
No, it is not a dream. It is the metaverse.
You might struggle to comprehend what exactly the metaverse is, and you are certainly not alone. Defining a new technology can be challenging when it is still being developed. That is why, when searching online, you might come across multiple explanations.
The Wikipedia definition of the metaverse looks like this: “The metaverse is a hypothesized iteration of the internet, supporting persistent online 3-D virtual environments through conventional personal computing, as well as virtual and augmented reality headsets.”
Zuckerberg seems to agree with this definition, though he simplifies it. According to him, the metaverse is “a virtual environment you can go inside of - instead of just looking at the screen.”
Whatever the definitions might be, it always raises the same question: how?

How the Metaverse Works

Several key attributes of the metaverse are revealed by these descriptions. First of all, it will involve entering cyberspace. We will do so by using a headset such as the Oculus. Once we put our headsets on, countless universes will be at our disposal. The nature of the metaverse is still unclear since we do not know if it will be a single metaverse or a collection of multiverses. At the moment, big names in the tech industry are all working on their version of the metaverse. The most likely scenario is that users will decide which ones will become popular.
Once we enter the metaverse of our choice, virtual and augmented reality will take over. We will enter this cyberspace through an avatar. An avatar can be a representation of you or something entirely different. In either case, we can customize this avatar in any way we want. The avatar is your gateway to interacting with the virtual world. This virtual world can be anything from a classroom to moon travel. The possibilities are only limited by imagination. User-generated metaverses won't be a hot topic for the foreseeable future. However, companies that are creating the metaverse will surely come up with amazing concepts.
These virtual worlds will have rules of their own. Mark Zuckerberg is one of the people constantly bringing this subject up. Facebook, or Meta as it's now known, seems to have learned from its unpleasant experience with the government a few years ago. Leaving old habits, they tackle privacy, safety, and ethics with a new perspective. To ensure the metaverse is exploit-free, international NGOs have been working with the company since the beginning. In addition, Mark Zuckerberg touched on the topic in an open letter and expressed how important it is for him to create a metaverse where users are free to make their own rules. We have seen a similar approach in Web 2.0. You can befriend, unfriend, and block other users on Facebook, Slack channels are invitation-only, and your Instagram account can be private if you want. The metaverse is expected to provide all this but incorporate more policies to improve safety measures. As a result, we might not influence a metaverse, but we will control how we interact with it.
Finally, metaverses are likely to have their own economies and, in some cases, their own currencies. Metaverse transactions are expected to be made on blockchains, making cryptocurrencies and altcoins ideal tender mediums. With metaverse currencies, we will be able to rent a house, buy concert tickets, go on vacation, and pay for an online course. In addition to bringing cryptocurrencies to a whole new level, many business ideas will be generated through this system.
Right now, aside from a few examples like Decentraland, we don’t have all too many real-life examples of metaverses. However, we do have some fictional examples that can be used to make the metaverse more tangible in our minds.