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Facebook’s New Metaverse
While early virtual reality platforms such as Facebook have focused on games like Minecraft, the metaverse promises to be much more than this. It will be an entirely new kind of virtual world with possibilities to engage with other people. For example, a person may join Metaverse to engage in work meetings without having to physically travel to an office. Alternatively, they could take a virtual boxing class and train in the Metaverse, a similar concept to that of a regular fitness class.
According to Zuckerberg, the open metaverse will be more natural than Horizon Worlds, because it will require constant confirmation of ownership. By using NFT, creators of virtual worlds will be able to mint unique tokens and make transactions transparent on the blockchain. The metadata of each token will contain information indicating who owns it. While cryptocurrencies such as Ethereum are used in many other digital environments, the metaverse will have a much higher demand for physical goods and services.
Several big names in the tech industry have already invested in Metaverse, including the Crazy Kings mobile game franchise. Animoca Brands, which has partnered with cultural icon Bored Ape Yacht Club, has already made significant progress. Several of Andreessen Horowitz’s investments include Airbnb, Coinbase, Lyft, and Roblox. Animoca has invested in a number of Metaverse projects, including Dapper Labs and CryptoKitties.