A universe where users can freely move data, communication and value
The metaverse is a network of digital virtual worlds that exist alongside our reality. In the metaverse, people are likely to own digital assets, creating a networked society where, for the first time in history, digital items can be scarce and therefore valuable.
Last update: June 17, 2022
For the metaverse to exist, we need to have a foundation where an open network confirms what each individual owns, sells, buys, and trades. This is where the blockchain comes into play, a network where thousands of developers can create all kinds of applications. At the same time, users simply need an identity, a wallet. This wallet allows them to interact with different virtual worlds, games, applications and services.
Connect your Web3 wallet to DappRadar, or learn how to get one, and then you can see all your assets in your wallet. All of these crypto tokens and NFTs can be used in the broader metaverse, a network full of dapps and services. But the true dream of the metaverse is a virtual universe full of different worlds where users can walk, contribute and participate freely. The metaverse is compatible, interoperable, connected, and open to all.
The metaverse is much more than blockchain or any other technology. It is a virtual universe where everyone can interact with other people, while data and value can be shared without permission. At the same time, it is important to understand that a virtual world can never be a metaverse, because we are talking about the interconnection of several worlds, if not all at once.
In the metaverse there are no limits, there is no discrimination for any reason. This universe is constant and open to all. Everyone has the ability to interact with the metaverse in different ways, using virtual reality goggles or their smartphone.
For example, if you consider the individual projects that are part of the metaverse, their economies are interconnected and players can easily log in with the same ID, identity, or avatar. For now, that would be your Web3 wallet, the same one you can use to log in to DappRadar.
The metaverse opens up incredible possibilities for everyone. Artists don’t need to live in London, Milan or Paris to make it to the big leagues. Tech companies no longer depend on Silicon Valley, and music artists no longer need to do physical tours exclusively to make money. Everyone will be able to create their own digital goods and services and sell them to anyone on this planet. In this way, each talent can be rewarded in its own right.
Several big brands have already taken their first steps into the metaverse. Big fashion brands have sold NFT fashion that shoppers can redeem for physical clothing, and Nike is also dabbling in metaverse fashion. In addition, companies such as Samsung, Ray-Ban, Pepsi Co and McDonalds have realized the enormous potential that the metaverse offers.
In the metaverse you can have multiple personalities at once, which you can create for different purposes. You can collect rare items, play the guitar or become a soccer player for a popular soccer club. You can create each of your characters for different purposes. There are simply no restrictions.
In the metaverse, each person will have their own digital avatar, which will essentially be our doppelganger. Interaction with the metaverse will be possible through augmented and digital reality, but we will be able to interact with some parts of this universe even in our physical space.
With the metaverse, we will all be able to access the information we need when and where we need it, not just through the Internet. In fact, the future of the Internet could no longer depend on Internet Service Providers (ISPs), but on the interconnectivity between all its participants.
Here at DappRadar we track thousands of NFT collections, and among those collections you can find so-called PFP collections. Currently, these PFPs often serve as an avatar on social media, but several projects will also feature 3D models for NFT holders. Some of those sell for millions, others for a couple of hundred dollars. Using the DappRadar NFT Collection Explorer, you can find out what new projects were released, so you’re always up to date.
You probably know how social media has revolutionized our world. Compared to the impact of the metaverse, social media will simply pale into insignificance. It will be a whole new world that we didn’t know before. Our real world is moving into virtual reality, giving us a wide range of possibilities. And it is recommended that we prepare for this world today. Because the metaverse will mark the beginning of a new realm where people can find entertainment, but also job opportunities.
Virtual worlds in the metaverse
The metaverse has been in development for quite some time, but for many projects it is still very early days. Here are three examples of virtual worlds that you can already visit. Businesses, celebrities, artists, consumers, maybe even your neighbor, have already been building houses, works of art, museums, music festivals, social gatherings, mini-games, etc. Be sure to check these out!