Have you heard of the metaverse but still aren’t sure what it is? Click here to learn what this term means and what it has to do with NFTs. As technology expands, our idea of what is possible has also grown. No longer are the days when the physical world is the only experience that one can have since the emergence of virtual worlds. New concepts such as the metaverse, NFT, and sandbox have been making headlines like never before.
While some people shy away from things outside their perspectives, others are curious about new things. If the latter describes you, it would be fitting to assume that learning about the metaverse and its relation to NFTs would pique your interest.
If terms like blockchain gaming, metaverse NFT, and collecting NFT don’t frighten you, you’re going to want to keep reading. Here’s a beginner’s guide to what the metaverse is.
What Is the Metaverse?
The term metaverse was first introduced in the early 90s in a science fiction piece called “Snow Crash by Neal Stephenson. Fast forward to today we finally have the real thing.
In simple terms, the metaverse is a 3D virtual world built for social connections. It was designed to feel real, often described with futuristic and science fiction ideology.
Users in the metaverse can interact, game, and have real-world experiences in this virtual reality. In theory, the metaverse gives users the chance to live a second life.
Once the headset is on, users are fully immersed in their new reality. With the help of motion-sensing controllers and a microphone, those who enter the metaverse can walk, run, and communicate as they usually would.
Users are also able to create a metaverse avatar. They can also personalize what they look like with clothes, shoes, and everything in between the metaverse NFT marketplace.
Since the metaverse was designed for connections between people, users can also have their avatars make appointments, go on dates, or hang out with friends. There are also sectors of business and education that players can participate in.
How Was the Metaverse Created?
Through gaming development and the connectivity of the world wide web, the metaverse is a product of the future. It was created using various technologies such as Augmented Reality (AR), Virtual Reality (VR), and blockchain technology. Cryptocurrency and NFTs are also integrated within this world.
Even though the metaverse is a newer concept, companies like Microsoft, Facebook, and Apple had prepared for its debut long before it ever came to life. This is why there is such a push for this new way of gaming.
Is the Metaverse Blockchain Gaming?
The metaverse can be considered blockchain gaming. By definition, blockchain gaming is the use of interoperable profiles created with the help of crypto. Investors and traders can use blockchain technology to make transactions across various blockchain networks.
While the metaverse wasn’t created solely reliant on blockchain technology, players can still take their uniquely identifiable public address from one game to another. This is where the use of NFTs comes in.
What Are NFTs and How Do They Work in the Metaverse?
As you understand the metaverse more, it is essential to know the term NFTs or non-fungible tokens and how it relates to this virtual world. In general, NFTs are similar to cryptocurrencies like Ethereum or Bitcoin because they are created with the same type of programming.
Yet, what makes the difference between NFTs and traditional crypto is a cryptocurrency like physical money is “fungible.” This means that they can be exchanged and traded for one another.
How NFTs work inside the metaverse is quite simple. The metaverse allows users to display property and digital art forms, just like in real life. NFTs enable users to show proof of ownership and place a price on their property and content.
Do You Need NFTs to Participate in the Metaverse?
While you don’t need NFTs to participate in the metaverse, the virtual world wouldn’t be like real life without them. The reason being is you can do everything in the metaverse that you do in the real world with NFTs.
They help with the micro-economics of it all by acting as a record for digital property.
This is why they play such a crucial role in the metaverse. As these virtual spaces continue to transform, NFTs will play an even more significant part in managing cross-interactions such as unifying digital worlds and even allowing your avatar to jump from one game to the next.
Is Investing in the Metaverse a Good Idea?
Investing in the metaverse could be a good idea because it is still relatively new. Since the interest in this virtual world is high, it could be a great opportunity for investors and brands to get in on the action.
Companies and individuals that are forward-thinking can bring their new ideas to fruition quicker than in the real world. It has already been shown that real estate purchases in the metaverse have given investors profits just like in the real world. With NFTs in the metaverse the sky is truly the limit.
Are You Ready to Enter the Metaverse?
It can feel like you are stepping into the future when it comes to the metaverse world. Such a concept was derived many years ago, and to see it come to life is a dream come true for many. One thing is for sure this virtual world is here to stay.
If you are looking to bring your brand into the metaverse, we can help! Sandstorm is the largest community of verified Metaverse NFT builders, and we want you to go virtual. Visit our contact us page to get started today!