The metaverse may evoke either dystopian future worries or joyful virtual reality hopes, depending on the player’s perspective and familiarity with video games and artificial intelligence (AI).
You can’t expect a discourse about the metaverse to be easygoing and straightforward. People are concerned since there is no agreed-upon description of the metaverse. Can we expect to see a shift toward purely virtual relationships?
But so does the anticipation: Will it be simpler in the future of the metaverse to find clothes that fit since avatars may be tailored to a user’s specific measurements? Will marketers on Web 3 be forced to learn from big tech’s errors and start treating user data with more respect? And would individuals be able to supplement their UBI by trading in their crypto tokens for real money to buy virtual tickets to their favorite metaverse concerts? And if that’s the case, then introverts may celebrate!
Even the most knowledgeable individuals have unanswered questions regarding the metaverse. Because of this, we’ve compiled some frequently asked questions and other ones we think you’d want answered.
To begin, let’s define “metaverse.”
There is no place for a sense of inferiority complex in Web 3, therefore we’re going back to the fundamentals.
The metaverse is the technology framework that enables communication between people regardless of distance or location. We’ve been living in the metaverse for some time now. Virtual reality games, digital avatars, and online communities have all contributed to gamers’ immersion like having in-game concerts with artists like Travis Scott in Fortnite.
Many proponents of the metaverse believe that the global coronavirus pandemic accelerated the adoption of technology, and as a result, most of us are now accustomed to engaging in cross-technological interactions, such as Zoom business conferences, FaceTime visits with loved ones, and the sale of physical goods on Facebook Marketplace. By providing users with digital wallets that can store their cryptocurrencies and whatever digital assets they hold in the form of NFTs, the metaverse will only improve the quality of these experiences.
Isla Perfito, co-founder and CEO of Sator, a blockchain-based entertainment platform, has described the metaverse as “an immersive global 3D overlay over real life.” You can move and interact just as you would in the actual world, with the extra capacity to break the laws of physics we are tied to as people on Earth, thanks to the fact that the virtual worlds function as an alternative reality.
You’ll need a suitable cryptocurrency wallet if you want to take part in the metaverse. The Ethereum blockchain is used by the vast majority of metaverse worlds and gaming platforms, although Solana and other layer 1 blockchains are also in use. To access a metaverse, one must first create a wallet compatible with the underlying blockchain technology and then connect that wallet to a web browser.
Here are some of the most well-known virtual worlds and game servers, along with the blockchains they use:
Wearing virtual reality goggles, which allow you to direct your avatar’s actions with your own body’s motions, is a great way to immerse yourself in the experience, but is by no means necessary.
What Does the Concept of “Ownership” Entail?
If everything in the metaverse is digital, then what do you physically possess?
Let’s say you’re a gamer and you win a token that grants you infinite continues. Your in-game character might carry these things in a virtual backpack. If you’ve ever played Super Mario and gotten the gold coins, you’ll get the idea.
A comparable system of ownership exists (or at least functions) in the metaverse. However, with the advent of blockchain technology, it is possible to generate a digital deed (or record) of this transaction. Because blockchain is a distributed digital ledger, all of this data is kept indefinitely, even if you switch off your computer or game console.
To take it a step further, metaverse businesses are figuring out how to broaden the concept of digital ownership to include more than simply in-game rewards. Mirror is a website where authors may publish their work for an online audience, and in return, the audience may send the author bitcoin.
Users of the Brave web browser may choose how many advertisements they wish to view. A user’s crypto wallet gets credited with Brave Attention Tokens (BAT) whenever they want to see an advertisement.
Sator, Perfito’s firm, was founded with the same idea of changing the face of ownership in mind. According to Perfito, a show’s worth is created by its audience. The only entities presently benefiting from users’ participation in centralized entertainment do so. My annual “Mad Men” marathon doesn’t earn me a cut of Amazon Prime’s profits, regardless of how many times I watch each episode. The tokens users earn by watching movies and TV shows on the Sator platform may be converted into fiat money or staked to earn interest. In fact, Sator organizes “virtual movie nights” for his wallet owners in the metaverse.
All of our digital contributions may be recorded on the blockchain. Therefore, these novel ideas of digital ownership are cornerstones of the exciting new Web 3 era.
If You Want to Buy Anything, How to Do It?
You may go shopping in the digital metaverse in the same way you would shop online via the Internet. However, a digital wallet like MetaMask will be connected instead of a social media account like Google or Facebook. In order to make purchases, you’ll need to ensure that your wallet has a sufficient quantity of the appropriate cryptocurrency to pay for the item and any associated costs.
Many people do find interesting things to do in the metaverse, however this obviously depends on what those things are.
According to Luca Arrigo, co-founder of Metaverse Architects, entering a virtual world with new people to meet, novel activities to engage in, and fresh experiences to have creates opportunities for human connection.
I do feel like I can be more myself when I go online.
The metaverse may be virtual, but that doesn’t mean it has to remain that way forever. Most metaverse advocates stress that simulated environments should complement and improve upon our real-world experiences.
Arrigo attended Metaverse Fashion Week together and sported matching NFT accessories. Dressing up an avatar in the metaverse is a fun way for Arrigo, who prefers simple T-shirts and trousers, to express himself.
For the time being, word of mouth may be your best bet when trying to figure out what to do.
We all use Google to find new things to do on the internet. Therefore, this is a major issue for the metaverse. Metaverse events, conferences, and other in-person gatherings may all be found if you do a simple search.
Arrigo claims that traveling to the metaverse is similar to traveling to another state or even another city. And it requires the same amenities—like tour guides—that other tourist hotspots provide.
For the time being, early signs of intriguing happenings may be found by investigating the Discord servers of a metaverse project and following individuals in the crypto Twitter community who are passionate about the metaverse.