What is Metaverse?

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What is Metaverse?
 
It is not simple; this is because there is no metaverse as of now and no one knows what it will be in the future.
 
The word “metaverse” is a portmanteau of two words “meta-” and “verse”. The word “meta” is a prefix of Greek-origin meaning “beyond” while “verse” comes from the word “universe”.
 
It was first used in literature by Neal Stephenson in his 1992 dystopian novel Snow Crash.

It is described in the book that the metaverse is a collective virtual shared space. After wearing VR headsets or other devices, you can enter the world of the metaverse as a virtual body.
 
The Metaverse is a massively scaled and interoperable network of real-time rendered 3D virtual worlds which can be experienced synchronously and persistently by an effectively unlimited number of users with an individual sense of presence, and with continuity of data, such as identity, history, entitlements, objects, communications, and payments,” defines venture capitalist Matthew Ball in the foreword of his outstanding nine-part essay on Metaverse — The Metaverse Primer.

In short, the Metaverse is the seamless fusion of our physical and digital lives, creating a unified and virtual space where we can work, play, relax, trade, and socialize.

Metaverse is not a new concept, like online, multiplayer games like The Sims or Second Life, players spend an average of 20 hours a week in these worlds, they are metaverses world.

Changes in supply and demand are driving more people into the metaverse, which in turn forces the metaverse to develop new skills and generate new money-making opportunities, after all, people will have to develop and build products that are consumed in the virtual world, and this presents a huge opportunity for the creator economy.
 
Then, how to make a transaction in virtual worlds?

NFT appeared in June 2017, it is very important is -----ownership certification in the virtual world.

While it also occurs everywhere in real life, it’s just that you may not have noticed.

For example, if you buy a house, you will have a real estate certificate to prove that the house is yours or you go to the supermarket to buy something, and there is a receipt on it to prove that the item is yours.If you don’t want the receipt, it doesn't matter as the exchange has been physically implemented.

Buying a certificate with money, exchanging a certificate for money, is a transaction.

Other than that, NFT is not a paper, is a string of codes --- electronic proof of assets,

If the things are no way to prove ownership, you won't buy it with money

So, the things should be useful, someone may want it, only that will attach ownership to it.

NFT is the code, which is unique and independent and cannot be imitated so that virtual goods can become valuable.
 
 
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