What is Metaverse? What will be the future of metaverse and digital worlds?

Imagine a world where you can sit on the same couch with a friend who lives on another continent, or be present in a virtual version of your workplace when you’re out and about with your family: welcome to the Metaverse. you came!

Metaverse is a virtual space that provides users with digital experiences as a substitute or second version of the real world. In this virtual world, it is possible to interact virtually with other people, trade goods, exchange currency, buy and sell property, invest, attend work, hold festivals and events, watch concerts, visit exhibitions and many other real life activities.

In this article, we review their concept, importance and features, take a look at the applications of this virtual world, learn more about the role of digital currencies in it and the way to enter the metaverse and buy land in this space, introduce a number of top metaverse platforms and answer some frequently asked questions. We recommend that you do not miss this reading article.

What is the metaverse?

Metaverse is an online and shared 3D space where users can create their personalities in digital formats and interact with each other and with virtual objects and avatars. Metaverses are actually virtual worlds that can be a reflection of our real world or completely different from it.

In fact, Metaverse uses technologies such as virtual reality (VR) and augmented reality (AR) to create such a world, so that users can combine the virtual world with reality in an unprecedented way by crossing the border of physical limitations. With the path that Metaverse has taken now, it can be considered the next generation of the Internet.

With the emergence of blockchain and blockchain games, Metaverse is also oriented towards this technology and decentralization. Now, metaverse ecosystems have been formed that lend themselves to decentralization and security Blockchain and are basically based on blockchain platforms. Metaverses do not rely on any single entity and every person, company and business can be involved in its creation and expansion.

The emergence of blockchain in the metaverse can be seen in the performance of digital assets andNon-homogeneous tokens(NFT) found that currently, they are leading in various fields, including gaming, producing and selling artworks, and buying and selling virtual lands.

Metaverse is not a new concept; But the interest and acceptance of this virtual world increased when “Facebook” entered this market and changed the name of its company to “Meta”.change gave The buzz of this rebranding brought attention and a stunning rise in metaverse-based digital assets such as metaverse NFTs. This issue made the phrase “buy Metaverse Facebook” one of the most searched by users.

What is the importance of metaverse?

Metaverse offers its users a unique experience of combining virtual and real worlds. This virtual ecosystem transcends physical and geographical boundaries and allows people to meet and interact in a three-dimensional space or participate in group activities such as games and competitions.

With the possibility of remote communication, you can be directly present at work or conference or live events from your home; Conditions that are very helpful especially when it is not possible to travel to participate in some events. Metaverse is a virtual place to enjoy the best benefits of education, work and entertainment without the need for physical presence.

Companies and large businesses can also enjoy the competitive advantage of international advertising without obtaining permission from intermediary institutions or third parties and allow their customers to remotely explore all available options for purchasing goods or receiving services.

Important features of Metaverse

There are many features that the performance of Metaverse is based on. Next, we will review these important features.

• Digital avatars

Avatars are two-dimensional or three-dimensional images that represent the personality of users in the metaverse. They are actually visual identifiers to express the identity of people in the metaverse and can be fixed or mobile. These images may be similar to users’ own faces; But most of the time it is not like that. It should be noted that many avatars are in the form of tokens.

• Blockchain operation

Blockchain is one of the main pillars of Metaverse, which in addition to decentralization of this space, also provides security and privacy of users. The storage and validation and safe transfer of data in this virtual space depend on decentralized blockchains. Also, any kind of valuable asset in this world can be valued and exchanged only through Metaverse currencies. It goes without saying that these currencies were also created on the platform of blockchain.    

• Non-homogeneous tokens

One of the ways to make virtual assets valuable, such as in-game items or metaverse lands, is to prove their uniqueness. This is something that only non-fungible tokens or NFTs can do. A unique token is a digital asset that is unique and non-exchangeable; Thus, each unique valuable asset is priced separately according to its characteristics and is not the same as any other token.

• Virtual reality and augmented reality

Technologies such as virtual reality and augmented reality are the main components of the metaverse and the source of creating three-dimensional and immersive experiences that blur the border between the real and virtual worlds. These technologies, which can make virtual space available to users in a three-dimensional form, are of great help in holding concerts, shows, educational conferences, revenue-generating games and any other event that links reality to virtual space.

• Artificial intelligence

The interaction of computers, the possibility of using health measuring devices, speech and writing processing, machine learning, automated marketing and many other applications in the metaverse world depend on artificial intelligence (AI). Artificial intelligence can process and analyze large amounts of data at a faster rate than humans and take on the responsibility of performing certain tasks such as customer support with chatbots. By entrusting some tasks to artificial intelligence, people can use their expertise and creativity in more important areas.

• Decentralized independent organizations

Decentralized independent organizations or abbreviated DAO (DAO) are institutions for decentralized governance that are based on blockchain and Smart contracts They use to reach consensus in various decisions. These organizations are one of the main pillars of the metaverse for decentralization and suitable alternatives for centralized decision-making institutions. DAOs give voting rights to all their users and manage the metaverse democratically.

• Web support 3

Web 3 is a new generation of the Internet that makes the role of the user more prominent than ever and hands over the ownership and control of digital assets and online content to the user. By decentralizing and democratizing the Internet space, Web 3 can provide the necessary infrastructure for metaverse activities, and the platforms in this field are the best entrance for new Web 3 users.

Applications of Metaverse

Considering the dust that Metaverse has created in the last few years, it is less useful than this virtual world that is not known. Over time, this virtual world will open to any field and different industries will benefit from this technology. Next, we review some of its important uses:

Play for money

The gaming industry is one of the main sources of investment in Metaverse, which, in addition to games and entertainment, also provides the possibility of earning money for players. Some popular and successful metaverse games such as Axie Infinity,Sandbox (The Sandbox),Discentral (Decentraland) and Sorare (Sorare) receive thousands of active users daily.

Also, metaverse games have created a social and advanced environment for user interaction, which distinguishes them from other games based on virtual reality. Another feature of these games is the possibility of saving and exchanging in-game items in the form of unique tokens, which can alone attract millions of dollars of capital to the blockchain and metaverse.

online shopping

Online shopping is one of the attractive features of Metaverse; For this reason, many fashion companies try to promote and sell their products with new meta-versa methods. In the meantime, artificial intelligence also helps manufacturers to have a better understanding of the activity, purchase amount, taste and characteristics of the product audience.

Customers can also have a three-dimensional and attractive experience in their Metaverse purchases. For example, in this space, people can try on clothes, shoes, glasses and cosmetics in 3D virtual reality rooms and even see a 360-degree view of the appearance of the clothes on their body. Also, people who are planning to buy a new vehicle can easily enjoy the thrill of driving a new car in Metaverse and at the same time, evaluate its features.

Entertainment and social networks

The undeniable influence of Metaverse on social networks can be clearly seen in the change of name of Facebook to Meta in October 2021. This event was the beginning of a new wave of attention and investment in this field. Metaverse can raise social interactions to a new level and introduce users to new worlds through virtual reality glasses and headsets.

Meanwhile, users can use their digital avatars to participate in various fun events such as concerts, fashion shows, sports competitions and art exhibitions. Also, other entertainments such as virtual tours and tours or visits to museums and historical sites are all achievements of Metaverse.

Finance and banking

Metaverse removes barriers for people to access decentralized financial institutions around the world, and users can even have a 360-degree view of the bank they want. Also, Metaverse Banking provides people with an attractive and easy way to access non-coin tokens and other blockchain-based digital assets.

Metaverse banking is not only a transition from traditional banking; Rather, it goes beyond the level of digital banking and allows customers to interact with bank operators and their peers. It is not bad to mention that the prestigious bank J.P. Morgan was the first bank to enter the Decentralized Metaverse world by forecasting an annual revenue of 1 trillion dollars in February 2022.

Other uses

Apart from the industries we have mentioned, the shadow of Metaverse has fallen on many other areas; including training, remote work,Tourism and tourism, real estate and medical services. Virtual reality and augmented reality gadgets in these areas create a full-fledged experience without borders for users.

Access to the best educational environments or conducting experimental tests in the most advanced laboratories in the world is the result of the development of Metaverse. Also, in this space you can visit the land or house or hotel room without traveling long distances and consider all possible options.

The problem of lack of access to a specialist doctor, especially in more remote areas, can also be solved with Metaversi medical service applications. It goes without saying that providing psychiatric and counseling services in a calm digital environment anywhere in the world is one of Metaverse’s irreplaceable services.

The role of digital currencies and NFT in the metaverse

The world of Metaverse is so intertwined with digital currencies and other tokens that it is hard to imagine it without these types of assets. A virtual world with this infinite capacity requires special tools to transfer value and ownership, and digital assets that benefit from blockchain security are the best option for this. Blockchain can successfully provide transparency and immutability of data in the metaverse economy.

In addition, if there is a need to prove the uniqueness of the digital asset, non-traditional tokens will be opened to this field. Non-coincidence tokens are used in the real estate market, virtual objects, in-game items, permission to participate in virtual events and meetings, buying and selling unique avatars, etc. Metaversi users can create different works with these unique tokens and then earn money by sharing or selling them. In fact, the attractiveness of unique tokens can be considered as one of the factors for the entry of new users into this world.

Many traditional investors got their first chance in the blockchain world to profit from this market with a set of popular tokens such as “Cryptopunk” (CryptoPunks) and “Board of the Yacht Club(Bored Ape Yacht Club) or the popular parts of the land in the platforms “Dicentraland” and “Sandbox” have tried. It is interesting to know that at the end of 2017, each piece of land in Dicentraland was priced at only $20; But this amount reached 15,000 dollars by the middle of 2022!