Want to get started in the Metaverse but not sure how? In this blog we will lead you through the process of how to go about it.
1. What Is The Metaverse?
The metaverse is Web3 being utilized to its maximum potential. It is a vast digital world encompassing aspects of cryptocurrencies, virtual reality, augmented reality, gaming and social media, combining seamlessly to allow users to interact.
2. Applications for The Metaverse
The metaverse is still very much in its embryonic stages. But that hasn’t stopped anyone from thinking and dreaming big. There are many fields that stand to benefit from the metaverse including:
Social – people already interact socially from opposite corners of the globe. The metaverse takes it to the next level.
Entertainment – think gaming, virtual reality concerts, fashion shows, meet your favorite stars in the metaverse!
Health – surgical procedures that have previously relied on robotics will shift into the metaverse using augmented reality. You may be operated on by the world’s best surgeon who isn’t in the room.
Military – Tactical Augmented Reality (TAR) goggles will give detailed information about the position of opponents. Significantly enhanced training capabilities also exist.
Real Estate – tour the house you want to buy from the comfort of your own living room.
Tourism – tour a prospective destination or hotel before committing to travel or stay there.
Education – there are enormous advantages in education allowing students to explore, feel and live what they are learning about and doing it all remotely in a virtual classroom.
3. What are The Characteristics of The Metaverse?
The metaverse has some basic traits which align with the concept and characteristics of the blockchain.
Decentralized – no-one controls the metaverse
Cryptocurrencies – you’ll need them to pay your way in this virtual economy
Infinite – it’s a bit like the universe, there is no known barrier to it
Timeless – the metaverse exists and continues to exist whether you’re in it or not. It can’t be shut down.
Social – Interact and meet with other users and AI virtual people
Immersive – users will get the full benefit of what the metaverse has to offer with extended reality (XR) tools like headsets and glasses
4. How Do You Get Into The Metaverse?
Your smart phone, laptop or desktop computer will let you access the metaverse with many virtual worlds offering cross-platform compatibility. Make sure you are running the latest operating system and you will be able to soak up thousands of different experiences. If it’s virtual reality you are seeking, you’ll need a VR (virtual reality) headset or AR (augmented reality) smart glasses. A headset is not a necessity but if you want the full metaverse experience, it’s definitely the way to go.
VR Headset – Facebook’s Meta Quest 2 (formerly Oculus Quest 2) is the market leader in this field.
AR Smart Glasses – Google Glass Enterprise 2 and the Microsoft HoloLens 2 are among the best options.
5. What Currency Do You Need In The Metaverse?
To buy and own anything in the metaverse, you’ll need cryptocurrency. There are three basic currencies in the metaverse.
Blockchain cryptocurrencies – these are your standard decentralized cryptocurrencies such as Ether which is used on the Ethereum blockchain, which hosts many metaverses.
Non-blockchain cryptocurrencies – these are essentially tokens that are peculiar to specific metaverses. Decentraland uses MANA. The Sandbox uses SAND. Meta is planning to introduce the “Zuck Buck” which will be exclusive to its platform.
Fiat currencies – you’ll probably use some USD to buy cryptocurrencies to use in the metaverse. Although you might be lucky and find some platforms still accepting them for basic transactions.
6. Which Cryptocurrencies Do You Need In The Metaverse?
There will be multiple metaverses to access on various blockchains and that means you’re going to need various cryptocurrencies or tokens to access them. Some of the leading metaverses and their cryptocurrencies are:
Decentraland (MANA) – a 3D virtual world where you can buy, sell and manage virtual land by purchasing NFTs with the MANA cryptocurrency.
The Sandbox (SAND) – an alternative to Decentraland that runs on Ethereum offering greater safety and security but also higher gas fees.
Axie Infinity (AXS) – their NFTs have been a massive hit with in-game functionality and more than a quarter of a million daily players.
Illuvium (ILV) – a hotly anticipated role-playing game due for a 2022 release, it runs on the Ethereum network and you don’t need ILV tokens to play. It is expected to be free in many regions.
Star Atlas (ATLAS) – the metaverse where you can explore the universe. Reach for the stars and travel to wherever you please on the Solana blockchain.
7. What Can You Do In The Metaverse?
You’ve almost certainly already engaged in the metaverse without even knowing it. Gaming has long been at the forefront of its possibilities and it already acts as the primary engagement of many metaverses. But there are many more possibilities opening up including:
Investing – dispense with the problems landowners face in the real world by buying some virtual property. You can then sell it for a capital gain or lease it to a tenant.
Shopping – send your avatar into whatever shop your heart desires and try on anything you like, then buy it in crypto.
Individuality – changing your look has never been so easy.
Making new friends – online gaming brings a world of people together, some dedicated specifically to meeting people.
Play games – join in the fun if you feel the urge. Play the latest metaverse games or more traditional ones like mini-golf or poker.
Gamble – hit the casino and try to build your crypto pot. There are several casinos to choose from in Dencentraland.
See a concert – Ariana Grande, Justin Bieber, Travis Scott and Marshmallow have all held center stage in Decentraland. Keep an eye out for who’s playing soon.
8. What Will You Be Able To Do In The Metaverse In The Future?
English Premier League giants Manchester City have joined forces with Sony to build a virtual stadium for their fans who can experience all the senses of game day while the team is away from home. South Korean capital Seoul plans to be the first city to make a range of public services and cultural events available in the metaverse. The possibilities for education, business and government are endless. Imagine being able to talk face-to-face with your bank officer in the metaverse about refinancing your home loan! The days of working from home will be gone. You’ll be able to work in the office – from home!
9. What Can You Buy In The Metaverse?
Blockchain staples like cryptocurrencies and NFTs are there to be bought and traded in the metaverse but there are so many other potential applications. Shopping will go to the next level. The trick is, you’ll be able to buy both real and virtual goods in the metaverse. Go shopping online for the week’s groceries or have food delivered to you, UberEats style. You’re probably already doing this in Web2 now. You could go browsing for those designer brand shoes you want, try them on, buy them with cryptocurrency and have them delivered straight to your door. Or, you could seek out some virtual shoes, so your avatar is keeping up with the latest trends. Maybe teleport to the latest show. Concerts will be a big part of the metaverse and already are. But just like in the real world, you’ll need to buy a ticket!
10. What Can I Own In The Metaverse?
The big one is real estate. Land in the metaverse is sold as “parcels”. And it is selling like crazy. There are more than 600,000 parcels of land in the 10 biggest virtual worlds with already $1.9b worth of sales. The challenge right now, just like in the real world, is where to buy? In the real world, we use historical metrics to judge the value of land. But none exist in the metaverse. There’s no guarantee that you could buy the right real estate, but on a platform which ultimately does not flourish or even exist in the future.
11. What Other Metaverse Are There To Explore?
If you’re keen to explore other metaverses, your options are many and varied.
The Sandbox – a virtual world where users build, own and sell their gaming experiences via NFTs.
Horizon Worlds – this is Meta’s own world made especially for the Meta Quest 2 headset. It’s a free online video game with virtual reality. And in the true spirit of Facebook, it allows users to meet and interact online and enjoy any number of activities.
Cryptovoxels – Origin City is the main city in this metaverse – a virtual world of players who buy land as NFTs and build on it for profit.
Illuvium – go exploring, hunting and collecting magical creatures known as Illuvials in this adventure game.
Axie Infinity – another popular game full of mythical beasts, mutants and flying robots as well as Axies, your very own pets.
Want To Know More About How To Get Started With The Metaverse?
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