![]() ![]() The full functionality of the metaverse is likely still decades away. Such a move could also legitimize crypto as a form of payment, quickening the uptake of cryptocurrencies among the general public. NFTs and Ethereum in a good position to become the structural backbone of the metaverse. The transaction and ownership of most NFTs is recorded on the Ethereum blockchain, the network that hosts Ether, the second-largest cryptocurrency after Bitcoin. Immersive art installations will also be part of the metaverse sphere Image: Tyrone Siu /REUTERS Art dealer Sotheby's recently acquired its own chunk of digital real estate, which it used to construct a replica of its London galleries. In some virtual worlds currently in existence, users are already paying hundreds of thousands of dollars in cryptocurrencies to buy NFTs of digital real estate and property. Earlier this month, fashion designers Dolce & Gabbana sold a clothing collection in the form of NFTs, with some of the items intended to be worn by digital avatars. One NFT, a JPG file of a photo collage, made headlines earlier this year when it sold for $69 million (€59 million). NFTs are a type of digital asset that functions more or less as virtual collector's items. Cryptocurrencies have made something of a splash this year, due in part to growing public awareness around non-fungible tokens (NFTs), a technology that could play a key role in the metaverse. This payment angle is particularly interesting for cryptocurrencies. Everyone would pay with a universally accepted digital currency. Users could even retain the same virtual identity - in the form of a digital avatar - and capital they own in one world would hold the same value in another. Metaverse visionaries predict a virtual universe where one might move seamlessly between these different types of digital worlds. Thus far, however, these worlds have been largely self-contained. There, users can work and collaborate, attend events and exchange real-world money for virtual goods and services. Interactive and world-building games such as Second Life, Fortnite, Minecraft and Roblox all have elements of the metaverse. Iterations of the metaverse have existed for years, whether as social media, virtual reality, online gaming or the cryptocurrency sphere. "Instead of just viewing content - you are in it," Mark Zuckerberg told tech blog The Verge in July, contrasting the idea of the metaverse with standard "two-dimensional" webpages that currently populate the internet. Second Life is one of many interactive games already containing metaverse elements Image: imago/Friedrich Stark Bringing everything together This week, Facebook doubled down on the project, announcing a major metaverse initiative in Europe. CEO Mark Zuckerberg has said he expects people will one day think of the social media company instead as a metaverse company. Epic Games, Microsoft and many others have launched initiatives of their own.įor years now, Facebook has been investing in virtual and augmented reality for the metaverse. ![]() NVIDIA, a company whose investment in the metaverse has led some to predict it will one day outgrow Apple, is just one of many companies scrambling to stake a claim in the metaverse goldrush. "I'm fairly sure at this point that the metaverse is going to be a new economy that is larger than our current economy," Jensen Hang, CEO of computer graphics chipmaker NVIDIA, has said. While the concept is still in its infancy, its potential is huge. It can be defined loosely as a digital reality, akin to the World Wide Web, but combining aspects of social media, augmented reality, online gaming and cryptocurrencies to allow users to act and interact virtually. The metaverse has no single creator or definition. The twist? You did it all without leaving your home. After the show ends, you buy a T-shirt and try to forget that you saw your ex-boyfriend there.Ī pretty typical day. You meet at the venue after work, excited to see your favorite K-Pop band play live. You've spent the morning hopping between conference rooms, stealing five minutes in the break room to talk to a co-worker about a concert you're going to that evening. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |