Metaverse and Blockchain technology - What is their relationship
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The science fiction that we see in the movies is no longer so far away, a buzzword, where the virtual reality and augmented reality metaverse interact, but also that territory that generates a lot of money, particularly with the speculation of virtual reality currencies.
What is the metaverse?
It is like a virtual 3D space where we can access and interact online in virtual reality and augmented reality.
The metaverse has a particular union; is an imprecise term that represents virtual worlds in which people, in the form of avatars, can play games, socialize and trade.
With the metaverse we can carry out the same activities that we do in real life, play, dance, work, buy, sell; In short, an infinity opens up with Blockchain and cryptocurrencies.
That the phenomena that the explosion of the cryptocurrency market that we have experienced in recent years, as well as the tweets and the sale of a pixel for more than 1000 dollars, will have in common, without a doubt, would be human greed, well yes, although others would think on the blockchain.
What is the blockchain?
A concept that connects directly with a branch of the informant is a fascinating exciting technology called as Blockchain. Therefore, we must know what decentralized systems are.
It is essential to know them because this idea is supported by many technologies such as cryptocurrencies, NFTs, smart contracts and even artificial intelligence.
The blockchain world gives us new possibilities. By creating and enriching Avatar's digital identity and digital assets, Blockchain has formed an independent virtual world. It is not entirely a mapping of the real world.
Now, how are they related?
Generating interest, driving your long-term vision, and of course, doing business is a metaverse concept. The metaverse is a concept that needs to unify and connect various services and technology.
This is why the metaverse must be decentralized. I think that decentralization and the use of Blockchain will be a natural step because the interest skyrocketed before the mission statement regarding Facebook.
Blockchain development is the basis of a possible decentralization, which leads to the elimination of intermediaries to carry out the management of the authentication or the validation of processes in a very safe and precise way.
They are distributed in different nodes that are the users. Experts have claimed that cryptocurrency technology will be at the center of the metaverse. It will allow people to safely own digital objects in different virtual worlds.
Recently, crypto-focused game metaverses like Axie Infinity and The Sandbox have attracted users.
The blockchain metaverse is powered by NFTs or non-fungible tokens. It comes from unique assets or in digital form of physical or digital support. It is equivalent to a digital certificate; allows you to buy and sell it in the real world. This is the case of the OVR metaverse.
According to Goldman Sachs, they ensure that metaverses must be based on Blockchain development.
They are adding virtual reality, video games, social media, cryptocurrency elements, NFT blockchain games.
Metaverses will become part of Web 3.0, an era where real-world businesses reveal themselves to the digital space and users express the versatility of these environments.
The relationship between metaverse and cryptocurrency has time. It is presented as a space to work, collaborate and socialize. Soon we will see virtual stores. Metaverse is a business.
Although it seems complicated to explain, it is even more so when we see how this virtual reality enters our homes and positions itself as a collaborative tool in the activities of household members.
Cryptocurrencies are digital currencies whose exchange axis is the blockchain platform development. The different Exchanges that have emerged to carry out these financial operations is why it is fully related to this new invention called the metaverse.
Consequently, it will only be possible to be part of it if digital technologies and tools are handled, allowing the benefit of thousands of users who currently have cryptocurrency or cryptoactive trading as their main income.
The metaverse is new, exciting, and filled with many opportunities. You can meet new people, build your assets, and monetize your creations like never before. Welcome to the future. Welcome to the metaverse.