What Is the Metaverse?

The Metaverse is a virtual world where people interact with other users online. The main features of the metaverse include feeling of presence, avatars, home space, teleporting, interoperability and privacy.

The Sandbox

Crypto-native metaverses like Sandbox and Decentraland enable users to own and monetize their in-world items using nonfungible tokens (NFT). They also offer transparency of transactions on the blockchain.

Metaverses are gaining traction, especially with the rise of cryptocurrencies. One platform, The Sandbox, has raised $93 million to develop their metaverse, which includes a game that allows players to create and own in-world assets.

Gaming and e-commerce

The virtual world could be a new destination for gaming companies to market their products, allowing users to shop from a variety of locations. They can buy and sell things, and communicate with friends in real time.

Education

With the ability to interact with others in a 3D virtual environment, the metaverse could be a great way to educate children about social norms and rules. The experience would be far more immersive than the screen-based games we’re used to on our phones, and it could be easier for teachers to make sure students are achieving their goals.

Business and commerce

The metaverse could be a big boost for businesses, particularly companies that are reliant on their employees to work on production and logistics. With a virtual reality system that replicates the physical world, executives could visit factories and distribution centers from afar, inspecting equipment as if they were on site.