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What is the Metaverse and How Will NFTs Help Facebook Gain Ground in the Crypto Market?
The term “metaverse” has been used in movies and science fiction for some time now. The concept of a virtual reality in which a real person plays a role involves a gadget or device that can transport the user to a different world. In addition to the’real’ person, there are also avatars or digital representations of real people in the metaverse. This allows users to work, socialize, and play games in the virtual environment.
While metaverse implementation is several months or years away, numerous companies are already preparing for the technology. Some of the first examples of a metaverse include Second Life, an online massive multiplayer game that allows users to take on the roles of real people in a 3-D virtual world. Second Life is one of the first examples of a metaverse and it introduced an entirely new concept – the virtual economy. It also provided members with the ability to charge for music, create relationships, and own property.
A recent example of a successful collaboration between a company and a virtual world is the work of Coca-Cola and Clinique. The brands partnered with companies such as Roblox, an online game creation platform, to sell digital tokens for their products. Experts predict that the metaverse will grow into a huge economic force, with NFTs being the key value driver. There’s no need to fear, however. Indeed, experts predict that NFTs will help the company gain ground in the crypto world.