Facebook’s Metaverse – A New Level of Virtual Reality and Social Interaction
The metaverse promises a whole new level of virtual reality and social interaction. Gamers will be able to engage with AI avatars and form relationships that extend beyond virtual reality. They can even engage in profitable activities such as buying and selling items for cryptocurrency. This augmented reality concept is likely to create a new market for artists and developers as they can sell their creations to other users.
Metaverse games are becoming wildly popular. For example, the blockchain-based game Axie Infinity allows players to own virtual land. They can buy and sell virtual resources and assets and monetize their experience through the SAND cryptocurrency. The game has been backed by several established investors, including SoftBank, and is allowing players to decide how to use their virtual experience. The game’s economy will likely be heavily based on NFTs and player-generated content.
Zuckerberg’s announcement on the metaverse has raised public interest in the technology. While the concept is still in its infant stages, many are already starting to get involved. Facebook is reportedly investing $50 million over the next two years in metaverse development, and plans to hire as many as 10,000 employees in Europe. And with all the new technology, the metaverse will allow users to interact with one another in new ways.
While the future of the metaverse is unclear, there are several risks involved in investing. Some users are concerned that it will be flooded with scams.