The gaming industry is booming, getting bigger by the minute and the emerging play-to-earn model coupled with blockchain and the Metaverse is the not-so-distant future. If you’ve ever watched the movie Ready Player One, you already understand more or less how the Metaverse works.
The word “metaverse” is a combination of two words from the prefix “meta” meaning outside and “universe” or the universe. You could say “a world beyond our current world”.
In the Metaverse, virtual lands, avatars, and even buildings can be bought and sold. This is most often done using cryptocurrencies. In this virtual environment, people can move freely with their friends, attend events and buy goods and services — essentially, do the exact same things they can do in the real world.
it is usually used to describe the concept of future internet interactions, consisting of highly detailed 3D virtual spaces, then in a perceived virtual world.
Many Blockchain projects have worked on this metaverse. Metaverse can be broadly broken down into two different types of platforms. The first centers around building a blockchain-based metaverse, using NFT and cryptocurrencies. Platforms like Decentraland and The Sandbox allow people to buy virtual plots of land and build their own neighborhoods.