The Metaverse and Cryptocurrency
The Metaverse platform is an online world where users inhabit their own virtual space and interact with other users through an online avatar. Users in the metaverse have full freedom of movement, speech, and action, and are also able to own virtual property. Users can sell virtual property or trade it for non-fungible tokens. For those interested in the Metaverse as a financial platform, it may be useful to understand the cryptocurrency ecosystem. To learn more about the blockchain and how it works, please refer to our Metaverse overview.
Building a metaverse requires several technologies. Augmented and virtual reality are crucial for building a metaverse. The introduction of artificial intelligence (AI) and blockchain technology could help developers create avatars and create digital humans as NPCs. Moreover, these technologies also facilitate security and multilingual services. For example, Microsoft’s Teams platform will be able to visit virtual spaces in 2022. With all of these innovations, a metaverse could serve as an ideal platform for collaboration in the digital world.
The metaverse concept has gained momentum in recent weeks after Facebook founder Mark Zuckerberg revealed his plans to build a shared virtual world for users. This virtual environment would give users the freedom to gather with others, work, play, and socialize in a way that simulates the real world. Once an event takes place in the virtual world, it would still remain on the metaverse, making it an ever-evolving system. But it’s not just Facebook and AI that are getting involved with metaverse.