Is the Metaverse for All People or Only those Who Understand the Crypto Sphere

Powered by some of the biggest tech companies like Sony, Facebook, etc., the metaverse is continually gaining a massive amount of hype. While the concept is nothing short of magnificent and has broad-spectrum implications for the world of digital technology, there’s still a lot of smoke around it. For example, how do you jump on the metaverse bandwagon? Do you subscribe to it? Do you need to be a blockchain expert to use it?

One of the major issues surrounding the metaverse is that everybody talks about it as if it’s just one place they’ll become a part of. In reality, a plethora of metaverses exist, and a lot more are on the horizon.

A Brief Definition of the Metaverse

If you don’t know already, the term was coined from a book called Snow Crash, written by Neal Stephenson. The metaverse is a virtual haven of endless opportunities and possibilities. It’s a digital space that enables people to interact, roam around, and conduct business in 3D. Like our universe, the metaverse is designed to continually expand without any borders or constraints.

You can select your digital avatars, invest in real estate, design and build your home, and develop a virtual existence outside of the realm of reality. For a more accurate description, watch Stephen Spielberg’s “Ready Player One”, it’ll be well worth your time.

Thanks to the fact that VR (virtual reality) headsets have become more accessible and affordable, tech giants such as Facebook, Google, and Microsoft are gearing up to introduce a “new kind of internet”, which will predominantly consist of an endless category of different metaverses.

Who Can Use the Metaverse?

While blockchain and cryptocurrency are going to be major factors in the metaverse, it isn’t likely that you’d need to become a technology expert to enjoy the metaverse. You see, the general concept of the metaverse primarily revolves around the use of a combination of VR and AR (augmented reality) technologies with a dash of MR (mixed reality).

However, what’s also true is that there will also be metaverse experiences that don’t necessarily require a VR or AR headset — offering users the freedom to interact in the virtual world using their laptops, gaming consoles, smartphones, flat screens, and other remote devices.

With the information we have today, which isn’t much, it’s going to be difficult to accurately offer universal advice on the type of operating system, hardware requirements, and devices people will need to access and subscribe to the metaverse. However, what we can say with certainty is that it’s far more important to select the type of metaverse that resonates with your interests and then research the hardware required to use the virtual space.

Transactions in the Metaverse: How Will You Own and Pay for Stuff

Other than the ability to create your own virtual identity and existence, another profound feature of the metaverse is the unique capability of conducting business transactions. You can buy any number of objects, and properties, own hotels, run restaurants, buy cars, and whatnot.

However, it’s not farfetched to say that you’ll also be able to buy and own real-world products. And don’t be too surprised when you see Walmart or Amazon opening stores in the metaverse.

To pay for products and services in the metaverse, there are only two methods (that we know of); one is to use traditional payment sources such as your credit/debit card, online payment services, etc. The other is using cryptocurrency.

The Role of Crypto in the Metaverse

Blockchain technology and the role of digital currency can’t be understated in the metaverse. Why? Well, that’s because blockchain has a certain degree of continuity and perpetuation that remains unmatched in buying digital products from a central server. For example, if you own an NFT (non-fungible token) on the blockchain, the only way any evidence of your ownership of that asset expunges is when and if the blockchain ceases to exist. And that’s highly unlikely.

Moreover, trading, buying, and selling NFTs makes a lot of sense in the metaverse because they can act as ownership proof and title documents for anything you buy in the virtual world, such as a house or a plot of land.

The Next Step in the Evolution of the Gaming World

In the coming decade, it’s widely speculated that the metaverse will likely transform itself using virtual reality. According to Mark Zuckerberg, the metaverse has already manifested itself in the form of multiplayer video games.

The evidence lies in the aggressive expansion and acquisition of popular gaming companies. Just recently, Microsoft acquired Activision Blizzard for more than $68 billion! Moreover, just a few months ago, Sony did the same with Bungie, buying the company for more than $3 billion.

What Will Metaverse Experiences Be Like?

The concept of the metaverse — the one where you have to wear a VR device — is to provide a deeply mesmerizing and enchanting, 360-degree virtual world where you can do whatever you want.

You’ll have the opportunity to create a new digital life on the metaverse, using avatars that you’ll design and develop. You’ll be able to conduct businesses, make your own virtual home, build friendships and relationships with thousands of other avatars, and much more.

Moreover, by buying your own house, you’ll be able to invite friends and guests, host parties and have a grand old time. Sure, this may sound a little crazy to you, but you’ll be surprised to know that the market for metaverse lands is going up. Tech companies like Token.com (Canadian) have invested more than $2 million to buy land in Decentraland.

Bottom Line

There’s no question metaverse is the next step in the evolution when you talk about digital technology and immersive virtual connectivity. It will envelop a wide variety of factors that revolve around human life, offering no constraints and no boundaries. The metaverse will have the power to enable billions of people to display their true potential, intertwining the fabric of cyberspace with the realities of the physical world.

About Homespace

Homespace is a Metaverse with photorealistic graphics where boundaries between real and virtual worlds are erased. It is a new type of social network that will allow spending time with friends in private worlds and public virtual spaces. Part of the Homespace project is Artificial Intelligence, which can develop into an AI Assistant, a friend, or a companion.

🔥Have a chance to purchase our NFT Shuttles!🔥

Stay tuned and follow us on social media:

Twitter
Telegram
Discord
Facebook
YouTube
Instagram

We also have a News Channel where you can monitor the latest news of the Homespace project.