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Facebook, Google, and Others Are Investing in the Metaverse

The Metaverse is the latest iteration of the internet. It’s a virtual world where people can interact with each other through an online avatar. They can do things like talk, shop, and play games.

Many tech companies have taken an interest in the Metaverse, such as Facebook and Google. While Google focuses on its search engine, Facebook is developing a metaverse platform that’s built on blockchain technology.

According to the company, its Metaverse will support hundreds of billions of dollars of digital commerce. The virtual world will include NFTs, or “nonfungible tokens,” allowing users to own and trade digital assets.

Users can use their virtual items to pay for goods and services, purchase real property, and even attend events in closed clubs. These tokens can be sold for real-world value, and can be exchanged for other currencies.

As the metaverse develops, the companies involved will shape its design. For instance, Facebook plans to launch a series of metaverse units that will help users discover and explore new digital objects.

Another platform, Decentraland, allows users to create and buy virtual property. Using the MANA native crypto, users can access interactive apps, pay for goods, and purchase more property.

One major gaming platform, Roblox, already operates in the metaverse. But it’s been criticized for poor user experience.

Another platform, Animoca Brands, is a major investor in NBA Top Shot creator Dapper Labs. Other investments include Airbnb, Roblox, and Open Sea.

Some other projects include a game called “Star Atlas,” which enables players to create their own spaceship, explore the universe, and take their experience beyond terrestrial reality.