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The Metaverse and Its Use Cases

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Metaverse is a 3D virtual space that links users to various platforms. A simple browser can access functions just like the internet. Before blockchain games popularized the term metaverse, games were incorporating augmented reality (AR), virtual reality (VR), and their own economics.

Features in the metaverse

Digital Avatars

Users must create their own avatars after creating an account and participating in the metaverse. These avatars can be customized by the user and are an essential part of the metaverse ecosystem. In some cases, these avatars have become so important that most players use them to brag to other players and show off their characters.

Experiences

The metaverse, like the real world, offers an experience to all of its users. While they do not correspond to real-world items, metaverses offer virtual experiences with a variety of items. However, as NFTs and cryptocurrencies became more prevalent on metaverses, the scale of virtual experiences changed, and blockchain technology was fully utilized. Because these experiences have improved, some people have taken them to a fashion week and helped the ecosystem grow.

Persistence

One of the most important aspects of its existence is its persistence. Even though most people believe that virtual reality (VR) or augmented reality (AR) headsets are required, the scenario does not end there. Unlike the real world, the virtual world never sleeps, and all of your progress is saved so you never lose it.

The Creator Economy

The Creator economy has become an integral part of the metaverse, and players can profit from it even if they do not have a premium membership. These members can monetize their efforts through marketplaces, and if other players think their efforts are worthwhile, they can profit. Furthermore, blockchain-powered metaverses have taken this feature to a whole new level, and whether or not players trade their goods through its marketplace. In addition, native cryptocurrencies can also be traded through listed exchanges.

Virtual World

It may sound silly, but the virtual world defines the metaverse to some extent. Because the metaverse operates in the virtual world, all activities in the metaverse take place virtually. They all use mobile platforms and the internet, whether they use VR or AR.

What crypto added to the metaverse

Proof of ownership

Because blockchain records every transaction in an immutable manner, NFT ownership can be easily proven. If your wallet’s private keys are not compromised, you can prove on the blockchain that the collectibles are yours, despite all claims to the contrary.

Governance

As decentralized autonomous organizations (DAO) became more prevalent in the ecosystem, most metaverses established their own organizations where token and NFT holders could propose, vote on, and contribute to the overall ecosystem in a variety of ways. While most people contribute their ideas to improve the ecosystem, some create and implement changes so that their virtual spaces can grow.

Collectibles

NFTs opened up a world of possibilities, and the crypto ecosystem created its own on the community’s behalf. While they serve a purpose for their owners, some of them hold special memories for them. Whatever the intention behind the creation of NFTs, they cannot be forged and used to represent ownership.

Value Transfer

Because NFTs can be easily transferred to other addresses or individuals, the owner of the NFT can also be easily transferred. Furthermore, blockchain provides a safe infrastructure for easy transfer, and with its respective currency, it has become a haven for enthusiasts to generate additional income.

Accessibility

Most blockchain metaverses require only a blockchain wallet with funds and NFT compatibility to participate. Even though some metaverses require users to register first, they are easier to access than most online platforms.

Collaboration

Blockchain games, unlike their non-blockchain counterparts, can connect to other blockchain networks via bridges. Furthermore, metaverse developers can integrate other platforms into their use, thereby expanding their userbases across multiple ecosystems.

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