The Metaverse is a virtual space where the physical world and the internet intersect. It provides an immersive experience, such as socializing or working, that can be user-created or created by a business.
The term, Metaverse, was first coined in Neil Stephenson’s 1992 novel Snow Crash. Second Life, a 2003 online multimedia platform based on the Metaverse concept, allowed users to create avatars and interact in a virtual environment.
The Metaverse is designed to be immersive with VR headsets and motion controllers. Inextricably connected to the real world, it offers anyone with an internet connection the chance to explore, create, and earn real money.
The Metaverse is a development of Web 2.0, which introduced us to social networking and e-commerce. It extends Web 2.0 by using Web3 blockchain technology.
Users can earn tokens that convert to crypto or fiat currency in exchange for their participation on the network.
Users can produce, earn, or buy NFTs with utilization in other virtual worlds. The Metaverse is still more of a concept than a reality.
There are a few virtual worlds in the works since the potential of blockchain technology is still developing.
