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The term metaverse dates back to 1992, because that is the year that Neal Stephenson’s book Snow Crash was published. This book has since become the bible of future versions of the internet.
The metaverse is a virtual shared space, which is formed by the combination of the internet, augmented reality and virtual reality. All existing and shared facets of existing, shared and 3D virtual spaces come together in an all-encompassing virtual universe. In fact, it is a copy of the real world, but digitally.
Even though the definitive characteristics of the metaverse are partly speculation, due to fact that the realization is still largely in its infancy, we can cautiously draw some conclusions from what has been done so far.
The main contribution of blockchain to the metaverse is that you can trade in a secure manner. Payment must be made and preferably as quickly and safely as possible, without too much hassle. By working with blockchain technology, trading in NFTs has become possible.
A major advantage of the metaverse will be that users will not have to create all kinds of separate accounts or that a new currency will arise. Crypto is the digital currency, but it comes in all shapes and sizes. Because everything will be connected in the virtual world 2.0, there will be no hassle with switching between accounts and platforms, because everything is already one. Users can roughly divide the economic system in the metaverse into two flows: NFTs and DeFi.
DeFi is the abbreviation for decentralized finance. Currently, financial resources are guarded by banks, but this will be different in the future. It’s time to decentralize and bring finance back to the people, through blockchain technology.
User can buy digital land, artworks, videos or images. These are called NFTs (non-fungible tokens). An NFT is a non-replaceable certificate of ownership, which guarantees that you are the owner of a unique object.
You can imagine that an enormous amount of data is being recorded with an audience of billions and that all has to be managed in the right direction. Experts find much still unclear, but that crypto will play a role in this universe is an absolute certainty.
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