The Metaverse Vs. Cryptocurrencies. What Is The Connection Between These Two Concepts?

The concept of a Metaverse in the digital world has been around for a long time. Recently, however, many say that it is impossible to imagine a full-fledged Metaverse without cryptocurrency. In this article, we will analyze these concepts and describe the principles of their creation. Finally, you will learn how the concepts of Blockchain and Metaverse are interconnected.

What is a meta-universe

The term and concept of the Metaverse were coined by science fiction writer Neal Stephenson in his 1992 book Snow Crash. He considered the Metaverse to be the next stage in the development of the Internet. It is a digital world that combines physical, virtual (VR), and augmented reality (AR). 

It is important to separate Metaworlds from Metaverse. Metaverse are VR/AR spaces of one company or organization. Metaverse, on the other hand, will be a shared virtual space for all of humanity. In theory, it will include all virtual worlds and augmented reality.

For now, the main aim of a Metaverse is the digitalization and unification of people from different countries. Just imagine that millions of people can communicate, shop, walk and even date in a virtual world. This virtual world should have its economy and rules. 

The proliferation of Blockchain has sparked particular interest in the meta-universe. This technology is ideal for building a secure virtual world. Blockchain has no regulators, and data on the network cannot be stolen. This can provide not only a stable financial system but also secure the personal data of virtual world users.

The Metaverse Vs. Cryptocurrencies

Facebook announced a name change to Meta on October 28. This is necessary for users to perceive the corporation as a developer of the Metaverse. According to the forecast of the founder of the company Mark Zuckerberg, the development of the product will take 5-10 years. It is assumed that the project will support the technology of non-exchangeable tokens NFT.

Facebook's announcement of the Metaverse and its video presentation will generally have a positive effect on cryptocurrency rates. Such a Metaverse requires the integration of some kind of digital financial instruments, facilitating economic interaction between people from different places on the planet.

Mark Zuckerberg confirmed in a letter to investors that the Metaverse will deal with cryptocurrencies. In the letter, he wrote that the platform should support cryptocurrencies and NFT. But of particular interest is the end of that sentence. It talks about some other form of governance. It doesn't just refer to cryptocurrencies, conditional bitcoin microtransactions, or NFT tokens on basketball cards. Furthermore, it refers us to a lot of blockchain platforms, involving both the creation of smart contracts and the creation of DAOs (decentralized autonomous organizations).

At the moment, creating a Metaverse without smart contracts and blockchain is impossible. Blockchain provides many functions that must exist in a virtual, secure world. For example, thanks to NFT, it is possible to provide assignment of copyrights and ownership of various objects and projects. Smart contracts are a handy tool for investment and other financial projects. Microtransactions and large payments are also secure on the Blockchain. There is no alternative to it. Without Blockchain and cryptocurrencies, the Metaverse would be like a virtual game with regular electronic payments and huge risks due to the vulnerability of personal data. How can you protect homes, cars, valuables, and copyrights in a virtual world without using Blockchain? It's impossible. 

What is a Metaverse? It is a utopian virtual universe. We are all online now, but what does that evolve into? Many people expect it to be a virtual world. A Metaverse is the creation of a virtual world in which people could live. Buying and trading virtual services and goods.

For 30 years, this concept has been evolving into decentralized elements in the form of crypto gaming and NFT gaming. The prospects of this direction are massive because the Metaverse in this form is still far from being perfect and is just starting to emerge. Facebook has already invested $5 billion in the Metaverse. After this news, cryptocurrency projects in the Metaverse are on the rise. But despite the current growth, these projects are still very promising and may well give growth several times.

The most promising Blockchain projects for the Metaverse

We have analyzed many Blockchain projects. Some of them are ideal for integration into the Metaverse:

   - Theta Network

   - Decentraland

   - Enjin Coin

   - Phantasma (SOUL)

   - The Sandbox

   - WAX

These are the tokens that are considered the most promising for development in the Metaverse. Most of the tokens on the list relate to online game worlds with their economy and laws. This is just the beginning of the virtual world and global data exchange within this ecosystem and Blockchain system. Don't miss the opportunity to explore this topic and successfully invest in promising tokens.