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What is the metaverse and how does it work?

You probably heard about the word “metaverse” from famous tech CEOs like Mark Zuckerberg, Elon Musk, Satya Nadella, and more. Many say that the metaverse is the future of the internet, a video game, or a virtual world. But what exactly is the metaverse?

The metaverse is a vision of what many believe to be the next iteration of the internet, a single, shared, immersive 3D virtual reality world. This immersive space is expected to transform the way we use the internet, creating a new platform for social interaction, commerce, and entertainment that is more interactive and interconnected than anything we have seen before.

Enter the metaverse

Users can access the “integrated network of 3D virtual worlds” known as the metaverse through a virtual reality headset. Users can travel through the metaverse using their eye movements, feedback controls, or voice instructions. The user is submerged by the headgear, producing a phenomenon called presence, which is achieved by simulating the genuine physical experience of being present.

Why should you care about the metaverse?

Global brands such as Meta (previously Facebook), Google, Microsoft, Nvidia, and Qualcomm are among those who are investing billions of dollars in the concept of the metaverse. This suggests that businesses are already anticipating how consumers and clients will be interacting online in the future. With gaming, entertainment, education, and marketing in the metaverse all likely to grow in importance, e-commerce is predicted to be the dominant engine.

What will eventually become the Metaverse is a collection of separate metaverses right now, much like the early internet’s closed ecosystem, which evolved to be the internet as we know it today. There are still many developments to be made before the Metaverse is completed. But the Metaverse will, without a doubt, soon take over and alter how we interact online as more and more companies and brands invest in its ecosystem and development.

Interested to learn more about the metaverse, NFTs, and cryptocurrencies? Read more of our recent blog posts below! 

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What are NFTs and how do they work? 

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