Metaverse: A Complete Guide To Digital Universe
What Is Metaverse?
Metaverse is an interesting concept, which associates with a virtual world. It is a digital universe where the folks are allowed to step into a place very similar to the real world, and do various activities and even earn money by monetizing their creations in the metaverse.
Basically, it is an AR/VR accessible world integrated with the elements of digital assets and linked digital worlds. Sci-fi and futurism enthusiasts consider this as a conjectural iteration of the Web as a sole, universal digital world facilitated by utilization of augmented and virtual reality devices.
What Are Metaverse Coins?
Metaverse coins are basically currencies associated with the digital worlds, where things can be purchased, sold or traded in exchange of associated metaverse coins. These coins have a real-world value too, and can be utilized to exchange real-world money via various cryptocurrency exchanges.
For example, SANDBOX is a game and a metaverse, where its native cryptocurrency is SAND token. Players in the game can play to complete tasks and earn rewards in SAND, which have a real-world value.
Players can either use it in-game as well as trade it on cryptocurrency exchanges where SAND token is listed.
How To Buy A Land or Property In Metaverse?
Digital lands in any metaverse cannot be bought via normal fiat currency, folks are required to possess the particular metaverse cryptocurrency with certain metaverse.
Let us consider SANDBOX again, if you are to purchase a land parcel in the metaverse, you must have sufficient SAND tokens in your crypto wallet to make the purchase.
You can buy a property in SANDBOX via Sandbox Land sales, which is available on its map. A declaration is made weeks before the sales happen.
Another option is second-hand acquisition via the third-party markets like Rarible and OpenSea, but acquiring these parcels will be costlier than official sales.
There are different metaverse games like Decentraland, Axie Infinity etc., where you can acquire Lands.
How Can You Join Metaverse?
Folks can independently join metaverse independently. Users are required to use basic devices like a PC or even mobile for some metaverses to enter. Best experience people can witness regarding the metaverse is through Augmented reality or Virtual Reality headsets like oculus.
Folks do not require to move themselves to enter this world, they can do it by just sitting or even laying on their beds.
Similar to the real world, folks can perform leisure activities as well as business in the metaverse, which will reward them.
People can socialize with other folks in the form of their digital avatars. They can chat, or even voice chat through their devices in the metaverse.
How To Buy Metaverse Cryptocurrency?
As I have mentioned above, metaverse coins are just cryptocurrencies that have in-game utility as well as real-world value. Doing monetary activities in the metaverse, you can earn associated cryptocurrency and trade it on the market.
Another option is that you can acquire metaverse crypto similar to how you purchase the regular cryptocurrency on the market, like Bitcoin.
Folks are required to establish their accounts on the crypto exchanges where their desired metaverse crypto is listed.
They can select the crypto asset of their choice and select “Buy” option on the exchange, and acquire the desired amount of metaverse crypto.
Folks need to make sure that they have sufficient funds in their wallets if they are willing to do the trade.
How To Make Money in Metaverse?
Metaverse is a place where folks are allowed to create revenues by doing tasks and other monetary activities. We are all familiar with NFTs, one of the interesting sources to generate income in the crypto sector, which are also part of the metaverse.
Land parcels and doggies associated with Snoop Dogg in SANDBOX, Axis from Axie Infinity and many more are the examples of non-fungible tokens in the metaverse.
Putting it simply, folks can generate yield by doing similar activities done in the physical world. They can acquire a digital land, and can sell it to another individual interested in the property.
Many more means are available in different metaverses through which they can generate positive income.
What Are Big Names Linked With Metaverse?
Most famous name associated with metaverse is Snoop Dogg, who created its own Snoop Verse in SANDBOX. There the Doggfather has created his virtual mansion where folks are allowed to enter the lair through acquisition of passes.
Other big names include Microsoft, who recently acquired Activision Blizzard, publisher of games like Call of Duty and Warzone, and is believed to be working on a metaverse.
NVIDIA corps, Epic Games, Apple and many more prominent names are associated in the metaverse. The future’s looking bright.
All the information provided by the author in this article is for informational purposes. All the readers are advised to do their own Crypto, NFT and Metaverse research before making any investments.
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