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The Metaverse and Crypto
The term “metaverse” was coined by Neal Stephenson in 1992 and originally envisioned lifelike avatars inhabiting a virtual world. Since then, various developments have led to a more real metaverse, which will be an amalgamation of virtual and augmented reality, video, and 3D holographic avatars. Eventually, this “metaverse” will serve as a hyper-real, alternate world.
The first attempts at a metaverse included fan fiction and visions of the future. One such scenario showed a young woman watching a video of a concert. Using this footage, the audience could chat with each other. In the meantime, they could also purchase merchandise and other items for their virtual world. In the near future, the metaverse is expected to be built on a highly open and interoperable framework. The idea of an interoperable metaverse is also expected to make it easier to move between virtual places.
The adoption of a play-to-earn model and game-playing is crucial to building a successful metaverse ecosystem. Animoca Brands, the company that owns The Sandbox and CryptoKitties, is a major investor in Metaverse. It also owns NBA Top Shot creator Dapper Labs. Its CEO Robby Yung aims to make the game more popular by leveraging his existing interests and skills in the gaming industry.
The concept of the metaverse has received widespread attention since the publication of Neal Stephenson’s 1992 novel Snow Crash. It refers to a virtual world inhabited by avatars of real people. Today, lots of science fiction and fantasy media incorporate metaverse-like systems, but Stephenson’s novel remains the most common reference for metaverse fans. And with so many different aspects of crypto, the Metaverse is a hot topic.