The digital world is exploding. The money we spend on digital services and goods is beyond imagination. For example, just a few months ago, Apple customers spent about $ 1.8 billion on digital goods and services in the short time between Christmas and New Year. So, you see, the digital economy is rapidly evolving, and digital currencies, the blockchain, and NFTs will be at the centre of that transformation.
Welcome to Metaverse! You may ask, what is Metaverse? In a word, virtual worlds; But if you want more details, the fact is that one sentence or paragraph is not enough to answer this question. Before we start, it’s good to know that “Metaverse” has a thousand meanings, but whatever it is, it is made up of the following main elements:
- Surrounding networks
- Digital currencies
- Cryptographic networks such as Bitcoin and Ethereum
- Extended reality (XR), including virtual reality (VR) and augmented reality (AR)
- And heterogeneous tokens (NFTs).
Table of Contents
What is Metaverse?
Metaverse is, in a word, the digital world; Where anything we can imagine can exist. The term is a combination of the two words “meta-” and “universe”. The day will come when we will be constantly connected to the Metaverse. Our senses of sight, hearing, and touch will transcend what they are. We will combine digital elements with the physical world or be immersed entirely in three-dimensional environments whenever we want.
However, The Metaverse that scientists are talking about is so vast that we may never fully understand it. Just as we will never understand the physical world around us!
A four-dimensional world in which all parts are integrated through the Internet. This world is decentralized, and everyone can comment on the future and its laws.
There is no doubt that we can not describe the world with such a short definition, but it seems enough to begin with. Moreover, do not forget that the transcendental world is based on the dimension of time. Therefore, Newtonian laws will also apply in this world. In other words, not in the same way as an open world computer game, but quite similar to the real world, time is defined in this world.
Zuckerberg says Facebook is set to become a virtual world. In such a world, cryptocurrencies will be the only financial solution. However, despite this strong connection, many users and enthusiasts are still unfamiliar with the concepts of the virtual world that the famous founder of Facebook promises.
What are the uses of Metaverse?
The fundamental question we have to answer is_ what does such a world do for us? Philosophers in the world of science ask a very challenging and big question in discussions of Newtonian and quantum physics:
“If we can define and prove a law in Newtonian physics, why do we need quantum physics?” The same question can be asked in the discussion of the transcendental world and the physical world. If the virtual world is enough for us, what need do we have for the virtual world?
Contrary to the endless debate about quantum physics and Newtonian physics, we can give an excellent answer to this question. The Metaverse will have important uses for us:
About two years have passed since the beginning of Corona’s globalization. We are all accustomed to the “virtual world”. Meetings are held virtually. Even classrooms are virtual. The main challenge is not even the quality of the Internet. Our lives are not virtual, and we cannot live in virtual physical and real infrastructures. Metaverse will help us to have the infrastructure for virtual meetings, conferences, and courses. This infrastructure will also include much cheaper and faster access to these centres.
Making money through games was a dream until a decade ago. However, many people today can make money just by playing. Although the number of these people has increased a lot compared to the past, it is still tiny compared to the world’s population.
Metaverse allows us to make money by playing. This feature should not be seen as a fantasy feature. Many games make a lot of money selling items and updates. In fact, by offering such products, they motivate players to play more. With the advent of mobile games such as PUBG, Candy Crash, and Clan Wars, the field has grown exponentially, and now few can be found who do not have the experience to play them. These games themselves help to develop jobs. Gaming companies are run by the workforce.
We know that NFT has enabled definitive and virtual ownership. Many people are already taking advantage of this. In the transcendental world, this possibility will be much wider. Buying and selling assets will be widely available to us. We can transfer houses and any other form of property we have in the real world to our Metaverse world. NFTs have enabled us to do this in the best possible way.
The advent of decentralized finance (Defi) was a revolutionary event. On the other hand, traditional banking and finance have no place in Metaverse, which means digital currencies can play an essential role in Metaverse. If banks and financial institutions continue to take a passive approach in this area, they are likely to be eliminated from the competition; Because more and more people are moving towards interaction with Metaverse, and this issue increases the need for new financial solutions.
Will Metaverse replace the Internet?
Mark Zuckerberg says Metaverse is an upgraded version of the current Internet. Gaming companies based on new technologies have the same opinion. They say we will upgrade the Internet and get to Metaverse.
But for Metaverse to replace the Internet, you have to add new sections to it. For example, creating a virtual pro room in Metaverse allows you to easily load your appearance with different clothes in such a space. This does not require the creation of a complete virtual store, and it is enough to switch between 2D and 3D models.