[Wise Crypto Life] 13. Metaverse

작성자: Trip Partner 7월 21, 2021

[Wise Crypto Life] 13. Metaverse

Date: Jul. 21, 2021, 02:00 PM KST

[Wise Crypto Life] 13. Metaverse

What is Metaverse?

Metaverse is a compound word composed of the combination of Meta (fictional/abstract) + Universe (world/universe), meaning ‘a virtual world where social and economic activities take place like the real world’. It seems daunting because it is an unfamiliar word to many, but we have actually experienced similar concepts to the metaverse already.

VR (Virtual Reality) games that have been popular for a few years are a kind of metaverse. Have you ever worn a HMD (Head Mounted Display) and played a game in a virtual space created to resemble reality? If you have been aware you are standing on the ground but struggled to keep your balance as if you were standing in a high-rise building because the space seemed so realistic, you have experienced a ‘virtual world’.

The augmented reality (AR) game ‘Pokemon Go’ that made many people physically travel everywhere is also a kind of metaverse. Augmented reality refers to a mixed world in which virtual objects are superimposed on the real world. The experience of discovering Pokémon on the road made a casual walk even more interesting! The added thrill of discovering new Pokemon along the one’s regular route caused Pokemoon GO to go viral all over the world.

Social media platform Cyworld that was famous in the 2000’s where users could decorate their own space online and express themselves through an avatar was also an early form of the metaverse. Now, how else can the metaverse benefit our lives?

Uses of Metaverse

Most of the cases mentioned above are limited to personal social media or games, but the uses of the metaverse are endless. In particular, with the preference of non-face-to-face interactions due to COVID-19, businesses related to the Metaverse are showing more vitality.

Naver, a large domestic company, is operating an augmented reality avatar service called ‘ZEPETO’, and 200 million people around the world are already using this service. With ZEPETO, users can create their own VR avatar, decorate the avatar, go shopping, watch K-POP performances, communicate with acquaintances, and live accordingly in a virtual new world. Global fashion brands such as Gucci and Nike have set up stores with ZEPETO showcase products within and famous K-POP idols have held avatar fan signing events. The lines between the real and the virtual can easily become blurred in the metaverse with everyday activities such as commuting to work or conducting presidential campaigns.

Additionally, the US game company Roblox, whose value has risen more than 10 times in the past year, is also using Metaverse. In the virtual world, avatars can create items themselves and acquire cryptocurrencies through them. This has become hugely popular because the built virtual world allows economic activity to take place.

What makes the metaverse so popular is its ability to show off one’s multi-personas in a new world while also discovering real world potential. The metaverse is not just a virtual space, but a space where reality and virtuality can be combined. The avatars in the metaverse do not just buy items and decorate themselves, but also change and develop, such as finding new jobs and getting promotions.

Global companies such as Facebook, Nvidia, and Microsoft are also showing great interest in planning and developing Metaverse businesses. Samsung Electronics and Apple have also announced that they will release AR-related devices. Experts say that the metaverse is not just a fad, but a concept that will naturally fuse into our lives. The futuristic world we imagined in sci-fi movies may become a reality soon.

Metaverse and Blockchain

Now that you have read about the concepts and uses of Metaverse, you might be wondering how this relates to blockchain. In order for economic activity to take place in Metaverse, the use of blockchain technology is essential. This is because the verification process occurs through blockchain technology; ownership of digital assets can be proved, forgeries can be verified or debunked, and transaction details can be recorded accurately and safely. Furthermore, blockchain technology will be useful to the rare digital NFT assets created on Metaverse or to trade assets produced on different Metaverse platforms.

As such, blockchain technology will drastically change our lives. We look forward to your continued interest in the use of blockchain technology in the future.

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