When two visionary concepts meet, a whole new world is created. The excitement cultivated around the Metaverse tends to push the boundaries of the possible. Cryptocurrency thus invites itself into this futuristic ecosystem that is increasingly walking the path of reality.
What is the Metaverse?
Present in common parlance since 1992, Metaverse has benefited from a recent spotlight. Indeed, Mark Zuckerberg’s simple will to change the name Facebook to Meta inspired the passions of the whole world around a concept, however old, dating back twenty years. But concretely, what is the Metaverse? This portmanteau of “meta” and “universe” translates as a parallel, immersive world, that in which virtual reality is magnified, is just one environment.
So these digital spaces come to life through very real interactions. Users who take the form of an avatar and can evolve, meet, play or chat. If this definition is directly reminiscent of video games, they only laid the foundation for the Metaverse. The main difference lies in the complete absence of limitation of the Metaverse in terms of participants. We must see this concept as a unique, resolutely virtual world, inducing its own codes and operations. By keeping the field free from its interactions and activities, the Metaverse offers a new, futuristic face while being so close to our everyday lives. We can work, learn, but also pay. And this is where cryptocurrency comes in.
Metaverse and cryptocurrency: a virtuous and revolutionary relationship
By having its own virtual economy, the Metaverse inevitably had to create its own currency to buy houses and clothes, as well as participate in a plethora of activities. In short, living a fulfilling life online. And of course blockchain and related technologies are essential to this new reality. Working, living and playing in this parallel world resonates as a reality with the advent of cryptocurrencies. Like the many types of metadata, there are a large number of cryptocurrencies. Let’s take a look at the ones best suited to this unique universe which is the Metaverse.
Decentraland: the 3D virtual reality platform
This platform aims to buy, sell and manage a virtual property. Based on the blockchain, this platform allows its users to buy, sell and manage parcels of digital real estate called “LAND”. And to acquire LAND, you have to use MANA, the cryptocurrency token fully committed to Decentraland. This digital currency offers the boon to create a whole new world and to explore more and more the potential of Metaverse. With a mobile phone, a computer or a virtual reality headset, the field of possibilities is wide. The opportunities for interaction are plentiful and exciting, giving rise to concerts or other virtual entertainment.
The Sandbox: the virtual world for exchanging digital assets
This universe allows users to buy and sell virtual land and other assets, thanks to the token called SAND. The idea is to take advantage of the power of cryptocurrency to create and convert anything you want. A kind of digital experience to earn money with. The Sandbox thus offers an unlimited playing field to control goods. Backed by SoftBank, one of the most influential technology investment firms to date, The Sandbox benefits from a token with an estimated market capitalization of over $2 billion.
Axie infinity: gamers’ favorite NFT collection
If Decentraland and Sandbox tend to buy and sell virtual land, there are other platforms that aim to create a virtual universe to raise creatures there. This is the case with Axie Infinity. By working with a blockchain it is possible to win rewards, with variable odds, which can then be exchanged for very real currencies, such as the dollar or the euro. Axie Infinity stands out as the benchmark of a new generation of video games. Inspired by Pokemon, this NFT game on Ethereum allows you to earn tokens thanks to a very specific gameplay. Players fight against their opponents, collecting and speculating more or less rare “Axies”, to create a fertile breeding. By attracting players from all over the world, tokens maximize their potential and interest more and more investors.
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