<p>The metaverse became incredibly popular at the end of 2021 when Facebook announced that it was going to focus entirely on developing its own metaverse. For this, it also changed its own name to ‘Meta‘. Yet before Facebook, there were many other companies developing a metaverse. A large part of the metaverse is built on the blockchain. This means that data is stored decentrally, and there is no central party that has control over this data. This is therefore one of the main reasons for the rising popularity surrounding metaverse cryptocurrencies.</p><h2 id="header-0"><a href="https://coinmerce.io/en/learn/what-is-the-metaverse/" rel="noopener noreferrer nofollow">What is the metaverse?</a></h2><p>The metaverse is an online and virtual 3D world that you can enter with special AR and VR glasses. You may have played a game where you can move an avatar through a virtual world. The metaverse is similar to such a world, only it seems as if you are present in this world yourself. AR stands for Augmented Reality and means that a computer adds something to reality. The world-famous game Pokémon Go is an example of AR, because the application made it seem as if Pokémons were visible in reality. The application added these digital animals to the image captured by the camera. VR stands for Virtual Reality and is the mock reality. A virtual world is created with a computer and by putting on special glasses it seems as if you are in this virtual world.</p><h3 id="what-is-the-point-of-the-metaverse">What is the point of the metaverse?</h3><p>A special feature of the metaverse is that here you can communicate and interact with other persons who also find themselves in the metaverse. This ensures that all kinds of social activities can take place in the metaverse. For example, companies could organise meetings in the metaverse. A meeting will be a lot more realistic then when it is held through a video call. Also, people don‘t have to travel the world to attend a meeting or workshop. Artists could also hold their own art gallery in the metaverse, where, for example, NFT-art is shown. Artists could even hold a concert that anyone could attend. As it is all online, there is no limit for the amount of people that could attend. So in addition to using the metaverse for gaming, as is often the case now, it actually has a useful function.</p><h2 id="header-1">What does the metaverse have to do with crypto?</h2><p>The metaverse, as we now know it, is still quite new. The idea had been around for some time, but the combination with AR and VR is still quite new. This technology emerged at the same time as blockchain technology. This is also the time when many people lost faith in large centralised companies that hold data. People have become increasingly cautious about sharing their personal data. The blockchain ensures that data can be owned and managed only by its rightful owner. Many metaverses are being developed on the blockchain. This is not without reason. This is because data stored on the blockchain is completely under the control of the user themselves. This is because the data is stored decentrally. The blockchain consists of a network of thousands of computers connected to each other. Data is only accessible when the user is in possession of the correct public and private keys. These are two keys that can be seen as a password to gain access. The computers in the blockchain network cannot see this data. Other companies cannot access this data either. A lot of data is collected in the metaverse, so many people think it is important that this data does not get into the wrong hands. This is why metaverses that run on the blockchain are very popular. These metaverses also have their own cryptocurrency.</p><h2 id="header-2">Famous metaverse cryptocurrencies</h2><p>So, there are many metaverse projects running on the blockchain. The projects below are the best known, and tokens from these projects can be purchased on Coinmerce&#39;s crypto exchange.</p><h3 id="decentraland-mana">Decentraland (MANA)</h3><p>Decentraland is an online world where you can buy a piece of land. On this piece of land you can then build what you love. Think of a building, a forest or an application. This is because every piece of land is a smart contract and is stored as NFT on the blockchain. This means that all pieces of land are identical and non-exchangeable.Decentraland&#39;s token is <a href="https://coinmerce.io/en/decentraland/" rel="noopener noreferrer nofollow">MANA</a>, and can be purchased at Coinmerce. </p><p>The Sandbox (SAND)<br />It is also possible to become the owner of a virtual piece of land in The Sandbox. This metaverse is quite similar to Decentraland, and has already formed many partnerships with large companies, such as Atari. Again, pieces of land are stored as NFT, making them unique and non-exchangeable. Users can also play different games with each other in The Sandbox.The token of <a href="https://coinmerce.io/en/the-sandbox/" rel="noopener noreferrer nofollow">The Sandbox</a> is SAND, and can be purchased at Coinmerce.</p><h2 id="header-3">Conclusion</h2><p>The metaverse is a world that we may all be a part of in the future. Indeed, this technology offers many possibilities, so there is a good chance that we will hear more and more about the metaverse. To access the metaverse, you need AR and VR glasses. Then you can communicate and interact with other users who are in the metaverse. For example, you can go to a virtual concert, meeting or party together. Thus, the metaverse can have a social and societal function that is actually useful. Many companies build their own metaverse on the blockchain. Users of the metaverse are then in control of their own data, and are less likely to be deterred by large companies that might sell this data for their own gain. Well-known metaverse running on the blockchain are Decentraland and The Sandbox. In this virtual world, users can build something on a piece of land. These two metaverses also have their own cryptocurrency, which can be purchased at Coinmerce.</p>

What is the metaverse?

Table of Contents

Coinmerce

Other articles published on Aug 2, 2022

What's all the fuss about POODL Token and why does it trend so frequently?

[Notice] NEOPIN Web, Swaps & Farms Open!

Telland Releases First of Its Kind Farmland NFTs on Telos Blockchain

[Notice] NEOPIN signs strategic partnership with SOMESING(SSX)

VECHAIN ENABLES ATTWOOD IMPORT EXPORT TO LAUNCH NEW SECURITY STICKER — THE ATTWOOD BLOCKCHAIN STI...

SEOR Network--The Web 3.0 World’s Infrastructure And Trust Framework

Join our free newsletter for daily crypto updates!