How to Metaverse?

Hello! Tudor here, from The Crypto Journal. I help people understand Blockchain and Cryptocurrency through 5-minute worth of reading reports.

The term metaverse has been around for over 20 years. It was first coined by Ted Nelson in 1990, and it has often been used interchangeably with the word virtual reality (VR). But unlike VR, which remains at its most basic level a game or simulation, the concept of a metaverse implies that it is more than just an entertaining diversion; it is an immersive environment with social and economic potential. Blockchain technology has now made this concept possible.

To a certain extent, speaking regarding what "the metaverse" means is a bit like discussing what "the internet" meant in the 1970s.

🧪 Why it matters

Crypto metaverses are captivating virtual worlds with tremendous social and financial potential. Their blockchain infrastructure lets them tap into the broader crypto economy, making virtual objects switchable for real economic value.

Additionally, by blending the distinctive features of video games, the value exchange of crypto, and the social media that engage users, these new digital environments have begun to experience exponential growth across an expanding demographic.

⚔️ Players

• Axie Infinity - NFT-based online video game using their own token $AXS

• Decentraland - Virtual world running on Ethereum - Users can purchase and trade digital real estate while exploring and playing games within this virtual environment. They are using $MANA token.

• The Sandbox - A play-to-earn game that incorporates blockchain technology, DeFi, and NFTs in a 3D metaverse. Uses the token $SAND

• Wemix - Platform for gaming dApps that supplies users with wallets and a marketplace for digital assets.

• Cryptovoxels - Virtual world on Ethereum where you can also buy land.

• Somniumspace - Polygon & Ethereum

🏦 Why invest?

The metaverse movement delivers the immense potential to revolutionize our lifestyles and communication. People are going to become addicted to these virtual worlds.

📡 New projects & Opportunities

• Bloktopia - A Decentralised Metaverse built and backed by Polygon

• Metafluence - Metaverse for Influencers

• Don'tPlaywithKitty (DPK) - A decentralized play-to-earn platform with Kitties (? what ?)

• Deepspace - A play-to-earn space multiverse exploration strategy game.

👗 Trends

• Wearable NFT Art items: The first wearable NFT artwork dubbed the NFT(EE), assembled in collaboration with multidisciplinary artist @GabBois. Luxury fashion and technology combined: a t-shirt collection connected to an AR filter that brings the NFT artwork to life.

• Adidas Originals Into the Metaverse. - Titled Into the Metaverse, the collection will comprise virtual wearables that buyers can use on online platforms, but also the physical clothing to match.

• Selfie-Based Metaverse Platforms - "Mutants of the Metaverse" are the first step in man/machine "symbiosis" achieved via mixing digital creatures morphed from expressed human DNA to form the rarest species of 3D NFT avatars to travel the open Metaverse.

• Metaverse Haptic Gloves - Not that NFT related, but Meta, otherwise known as Facebook, is working on a haptic feedback glove designed to add touch sensations when used in its vaguely defined Metaverse VR and AR environments.

📰 News & More research

• BAIDU joins the Metaverse by letting consumers use digital avatars to interact virtually and see virtual places on its latest app called XiRang.

• Nike buys NFT Sneaker business for the Metaverse - the most stunning story of Q4 2021.

• Applebee's markets first NFT as part of new 'Metaverse Mondays' series

Don't forget to: