The Metaverse and Crypto Assets

The Metaverse and Crypto Assets

We keep hearing the term “Metaverse” being tossed around, related to many topics. While the term has been around for a long time, it was originally relegated to sci-fi. You might remember movies like “Tron,” “The Matrix” and the recent offering of “Free Guy.”  if you simply imagine a virtual world that can be interacted with by users represented in the metaverse with digital avatars. In a way, this has already existed here on planet Earth on a few levels, particularly in video gaming, but the term is evolving. Now we’re talking about something more advanced, immersive, and capable of spanning into actual life, functioning in between virtual reality and IRL, aka In Real Life (IRL). The “Metaverse” is a burgeoning concept that could seriously affect not only business and world connections but also our culture, jobs, products and services, and our global economy, including short and long-term investments and trading all manner of digital assets and tokens.

What is a Metaverse?

In 1992, we first heard the term “metaverse” in “Snow Crash,” a novel penned by author Neal Stephenson. Metaverse refers to existing, functioning, and connecting beyond this physical universe. Applying this concept opens up connections beyond a simple internet, placing people and products in virtual 3D in the same room as each other from across the world. Think of a Jedi Master meeting with holographic representatives sitting in the chairs around the conference room. These holograms can be applied to social formats, gaming, entertainment, real estate, and many types of sales, business, and transactions. The possibilities are endless. Facebook’s Mark Zuckerberg may have thought of this when his company acquired Oculus VR, though they’ve done little with it so far. However, they did just change the corporate name to “Meta,” right? ….. Interesting.

Characteristics of the Metaverse

The blockchain seems a perfect host for data related to a metaverse, so some of the structure necessary already exists. Furthermore, a decentralized framework makes sense for a metaverse needing powerful security measures since it could impact many parts of our lives. After that, privacy may become the most critical aspect of connecting virtually. Blockchain would accommodate these primary needs while supporting other characteristics of running a successful metaverse. These include continuous and indefinite operation, expansion capability, 100% open access and participation, the ability to interact with the virtual and physical worlds simultaneously, the transferability of assets such as NFTs and, of course, metaverse currency and trading.

It’s been speculated that there could be multiple metaverse worlds that could potentially interact with each other, calling for currencies that might be specific to these worlds while also being tradable across ‘verses and IRL on exchanges. Aponte Crypto Consulting can help guide you as you “boldly go” to these new worlds that develop. Let us help you trek into these potential crypto places where few have gone before. Call us today!