Meta verse – what is it?
Metaverse crypto coins are not only a hype or a short term trend. Even in 1980, sci-fi author William Gibson wrote about a cyberspace where humans are supposed to live digitally. The applications described at that time, such as online shopping or exchanging photos digitally seem more than normal today.
The term was first used in the 1991 science fiction novel “Snow Crash” by Neal Stephenson. According to Stephenson, in the global virtual world meta verse people act as avatars. It is a bit like today’s multiplayer online role-playing games, which have been on the market for quite some time.
However, it is not meant to be a game, but rather a long-term representation of the real world, existing as a digital twin. Consequently, there are no limits for Metaverse crypto coins.
Meta verse crypto coins in 2021
Metaverse crypto coins are booming and not only Facebook or Meta talks about those. No doubts that CEO Mark Zuckerberg sees the future in the Meta verse as he changed the name of Facebook to Meta. There are several blockchain projects that enjoy big attention and attract huge investments.
Satya Nadella, the CEO of Microsoft stated that his company is aiming for Metaverse crypto coins in the sense of an “enterprise meta verse.“ Epic Games, the makers of Fortnite, has announced a $1 billion funding. CEO Tim Sweeney says the funds will be used to make their own meta verse a reality.
The blockchain is the key for Metaverse crypto coins
The cryptocommunity started early with initial applications. Many gamers have been moving in similar constructs, such as World of Warcraft, for years. The now emerging worlds, combined with blockchain technology and cryptocurrencies, open up completely new possibilities and in some cases flush billions into the virtual worlds. The so-called metaverse crypto coins and NFTs have been booming for weeks and have grown by up to 600% in recent days. The following examples show some already implemented cryptocurrencies:
In terms of current market capitalization, Decentraland is also one of the top Metaverse crypto coins. The project calls itself the first fully decentralized universe, the developers have built a world where you can freely travel around with your avatar. The in-house decentralized autonomous organization DAO, which controls Decentraland’s main smart contracts and assets, is responsible for this universe.
Holders of the MANA cryptocurrency can vote on how the world works through the DAO. The MANA coin is one of the most sought-after currencies for Metaverse crypto coins as enthusiasm for all things Metaverse continues to grow. In the last few months, the MANA Coin has increased by 290%.
Sandbox also joins the list of Metaverse crypto coins that have been around for quite a while. The project has a good name in the scene and enjoys an excellent reputation in the cryptocurrency world. Sandbox is also continuously benefiting from the hype surrounding Metaverse crypto coins.
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The company advertises itself as a virtual meta verse where users can create, own and commercialize virtual worlds. Artists, designers and gamers get the chance to create the platform they’ve always dreamed of. Sandbox brings everything you need to let your imagination run wild. The SAND coin is very popular. It is used to buy and trade land and assets in Sandbox. The projects are also popular with celebrities. Sandbox, for example, already has partnerships with Atari, The Walking Dead, and Snoop Dogg, to name a few.
The technology already has a big role to play. If you want to learn MORE about such blockchain projects and invest in exclusive investment tips before everyone else finds out you are welcome to join us in our Investment4Insider Telegram group. We have a way to get info about very good long term cryptoprojects before anyone else in the market.
The online game Axie Infinity has taken the definition to heart and represents its own digital ecosystem. Within the last few months, Axie Infitny has become the most expensive NFT collection in the world thanks to a combination of a pay model and crypto technology. The game is so popular because it allows users to earn real money within the virtual world.
It is reminiscent of Pikachu fighting a Shiggy. However, these are not Pokémon, but small spherical creatures known as Axies. In addition, players do not play on consoles or Gameboys, but on the PC or mobile app. Axie Infinity is currently the most popular blockchain game. Every day, more than a million people use the platform. Investors buy Axies and make them available in less affluent areas of the world.
There, people play with the Axies and earn money in the form of the cryptocurrency SLP. Players in poorer countries earn a higher average income than the domestic market would generate. The in-game currency SLP as well as the metaverse crypto coins to be earned in AXS have been steadily increasing for weeks, promoting such metaverse crypto coins.
The money is split between the investor and the player. later it can be converted into Ethereum or US dollars. The investor earns money without really doing anything for it.
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The special feature of Metaverse crypto coins
It is useful to read a report published by investor Matthew Ball to understand the logic of meta verse crypto coins. The essay published in 2020 is called “The Meta verse: What It Is, Where to Find It, Who Will Build It, and Fortnite“.
It was celebrated by the entire Sillicon Valley. The key features of a metaverse crypto coins are, according to Ball:
- Everything happens in real time and live at all times. Events, take place as they do in the real world. However, it is not an event but a real-time world.
- The number of participants is unlimited
- Metaverse crypto coins are unstoppable. They continue forever and can not be paused
- There are open and closed platforms within the Metaverse crypto coins ecosystem
- Metaverse crypto coins have their own digital ecosystem with a digital currency. Buying, selling, working and investing shall be possible within the virtual world with metaverse crypto coins and NFT’s.
- Metaverse crypto coins are able to grow, companies as well as individuals are able to create elements and content of the Meta verse.
- Metaverse crypto coins are essentially similar to today’s Internet. The main difference is that it extends to far more aspects of our lives, changing the way we act and work. Ball cites companies that already employ video gamers in less developed countries to earn in-game items that are then sold to gamers in more developed countries (Axie Infinity being an example). The author also predicts that Metaverse crypto coins will generate far more revenue than the entire Internet does today.
- The variety and value will increase with new cryptocurrency projects. This type of work is usually very simple, monotonous and limited to a few applications.
Zuckerberg, Sweeney and other CEOs are investing so early in this sector because of those reasons. After all, just as Internet companies have been able to dethrone many traditional organizations, the future growth could lead to a similar situation with companies. If you are also interested in being an investor in the hottest and newest blockchain projects, you definitely should visit us in our Investment4Insider Telegram group. We have an opportunity for investment cointips in the crypto space, to build up your huge portfolio.
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