There is a lot of talk and hype about the metaverse. But, what is the metaverse and how does it work really?
Right now the metaverse is more of an active concept than a fully developed thing. The future legitimately looks a lot like the movie ready player one in the way the virtual reality, avatars, gaming, and markets are set up. The present looks more like the 90s in terms of appearance. That’s not to say that the future of the metaverse isn’t close. We talk to developers on a regular basis that are designing virtual worlds that look amazing, have economies, real estate, play to earn gaming, conferencing, hang out spots, events, and more.
One thing is for sure though, the metaverse and online economies are here to stay.
What is the Metaverse?
The metaverse is a collection of digital worlds on the blockchain. It is made primarily by gaming designers at this point because the metaverse is essentially and open map game where you can go anywhere and participate in what you want when you want. The biggest difference between the metaverse and traditional gaming, besides the scale, is the economies.
If you have ever played a video game you have probably received points or tokens that you can use in the game. Now imagine those points or tokens can be converted directly to fiat currency and spent in the real world. Now lets take it one step further and say that you can use the same points or tokens in that game to buy real world items like clothing, art, food, furniture, and more that gets delivered to you in the real world. This is the seamless digital and virtual economy that the metaverse provides.
Metaverse For Businesses
Beleive it or not, one day in the not so distant future, advertising in and owning a business in the metaverse will be as common or more common than in the real world.
Maybe you live in a small town with 20,000 people in it. Imagine being able to place your business in a city with millions of people. That is a reality with the metaverse. Or you might live in a big city where real estate is priced out of your range. Right now the metaverse offers you the option to purchase land and buildings for much less, with the potential for the same or even more exposure.
The metaverse will also be a hub for meeting and conference calls. It will allow for more options than just screen sharing. You will be able to have interactive materials that everyone has access to. I will be a fun and interactive way that people can interact as one while working remotely.
Metaverse For Gamers
As I said above the metaverse is essentially open gaming platforms. Some will just be for fun and some will be play to earn where you can earn or lose tokens worth real money.
With Metaverses like Ready4Player you will have multiple gaming options that are all connected by the main city called “Mega City” where you will be able to purchase land and other items with your earning from gaming.
Gaming as a job in the metaverse
Since the tokens you earn in play to earn gaming are able to convert to real world money many gamers will be able to make a living in the metaverse. Many of these games will be serious professional level gaming. There will be tournaments and seasons in many games just like professional sports.