What is the Metaverse Blockchain Technology

What is the Metaverse Blockchain Technology

If you hear CEOs like Mark Zuckerberg or Satya Nadella talk, the metaverse is the future of the Internet. Or maybe it’s a video game. Or maybe it’s a worse and deeply unpleasant version of Zoom? It’s hard to say. 

It’s been almost six months since Facebook announced that it would rebrand itself as Meta and focus its future on the future Metaverse. In the meantime, the meaning of the term has not been made clear. Meta is creating a social VR platform, Roblox is creating custom video games, and some companies are offering nothing more than broken game worlds that happen to be NFT. 

Proponents of the idea, from startups to tech giants, argue that the lack of consistency is because the metaverse is still in its infancy and too new to define its meaning. For example, the Internet already existed in the 1970s, but not everyone had any idea what it would look like.

On the other hand, the idea of a “Metaverse” is being marketed with great marketing (and money). Facebook, in particular, is in a particularly precarious position after Apple’s decision to restrict ad tracking hit the company’s revenue. It’s impossible to separate Facebook’s vision of a future where everyone can browse a digital closet from the fact that Facebook actually wants to make money selling virtual clothing. But Facebook isn’t the only company that could benefit financially from the metroworld craze.

All things considered, …

Seriously, what does “metaverse” mean?

To give you an idea of the vagueness and complexity of the term “metaverse”, here’s an exercise: mentally replace the term “metaverse” in a sentence with “cyberspace”. In 90% of the cases, the meaning will not change significantly. This is because the term does not refer to a specific type of technology, but to a general (and often speculative) change in the way we interact with technology. And it is quite possible that the term itself will eventually become obsolete, just as the particular technology it once described has become commonplace.

Broadly speaking, the technologies that companies have in mind when they talk about the “Metaverse” might include virtual reality – characterized by persistent virtual worlds that persist even when you’re not playing – and augmented reality, which combines aspects of the digital and physical worlds. However, these spaces need not be accessible exclusively through VR or AR. Virtual worlds – such as the part of the Fortnite game that can be accessed through PCs, game consoles and even phones – have been referred to as “metavirtual worlds.”

Many companies in the Metaverse also envision a new digital economy in which users can create, buy and sell goods. In a more idealistic view of the metaverse, it is interoperable, meaning that virtual objects such as clothing or cars can be transferred from one platform to another, but this is more complicated than it sounds. While some proponents claim that new technologies such as NFT can enable the portability of digital goods, this is simply not true, and transferring objects from one video game or virtual world to another is an extremely difficult task that no company can accomplish.


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Zeeshan Khan

Zeeshan Khan is the CEO at Techairo.com and businessegy.com, and he's been in this industry for two years already! He provides Informer technology news that will blow your mind every single day with stories on telecoms/internet providers as well auto reviews from all over world including America - He knows what you're looking forward too because his team curates only top tier content to keep readers interested without ever getting bored or stale.