Such was the robust human instinct, devoted to advancement and sophistication that we witnessed in an era of internet evolution and mass production was recorded in the past century.
Stepping inside the present we find the virtual world or the Metaverse which is a deeply absorbing framework and is miles ahead of the internet revolution of the past.
Interestingly enough, blockchain technology is pivotal to this and serves the needs of all the members associated with the framework.
Making assumptions is not hard now that traditional jobs, human collaboration and social interactions will be impacted deeply. Thanks to the internet the Work From Home concept helped save thousands of companies from getting dissolved and helped economies slow down (if not linger and paralysed) in the face of the Covid 19 outbreak when it unfolded rage across the world recently. In fact, corporations have managed to operate and keep up the flame because of this.
Besides, even the education sector has turned more tech-intensive during the past two years.
Now, such is the class of metaverse that such sectors are likely to be reshaped further, by the virtue of VR (Virtual Reality) based devices. Through such devices (which are wearables), users enter into a virtual world without the need of spending long hours covering distances, inhaling polluted air to socialize and for business interactions.
Likewise, we are saved from suiting up differently to suit different occasions. As for the children’s education and career-building of youth, their learning pursuit can continue without a major hiatus with the physical world being skipped.
As for the usual hangouts post working hours, no need t curtail the spirits as social interactions, watching movies and meeting points have been replaced digitally and are therefore sustained virtually.
Simply put, Metaverse unlocks endless possibilities.
In this arena, a declaration is made by a tech giant Together Labs that makes VCORE available to users outside the US and Canada and IMVU platform will be utilized for the purpose.
As for VCORE, this is an ERC-20 token that rewards active users, creators, international players and earners.
Undoubtedly, experts pin hopes in VCORE that the users will unpack a new kind of digitized economy soon as its new token is heralded and every associate would contribute to Metaverse build-up and would get benefited accordingly and dearly.
But the success of any ecosystem depends upon users’ response and behaviour and how simple it is to transact by it. At this place, cryptocurrencies fit in very well and many types use this to push digital transactions without any bother to the real world.
Moreover, as the conversion from fiat currencies to any crypto form is quick, people can be motivated to straddle between the physical world and metaverse easily.
We, as consumers, will be identified by the digital avatars which we will bag after paying for them and we can even own a digital land and can organize a get-together by utilizing crypto tokens which the entities would release following the interactions that take place on the digital network.
Artists will be called in in Metaverse, will be obliged with cryptocurrencies and they would again convert these earnings for subsistence in the real wild world.
Not to mince words, but the spread of metaverse will result in the proliferation of the global economy, given the former’s potency.
To unravel things, Dominic Ryder, CEO of vEmpire, opines that Metaverse is regarded as the next natural level for the people to interact upon in a digital framework and he sees endless possibilities therein.Sandbox and Decentraland are the draw cards where the former is for minds gifted with creativity and also a paradise for gamers who want to weave discerning experiences, the latter is the point of convergence for all types of events.
Mr Ryder says, “Then, you’ve got Axie Infinity and Starl, which are two completely different models and platforms, yet equally thriving in that digital space. I believe that the pandemic has put this progression in overdrive, as almost everyone used to working in the office has been obliged to adapt to working remotely and digitally. It is only a matter of time before those people begin spending more of their time outside of work inside the Metaverse.”
Today, we already regard a nascent version of the Metaverse, which adjusts with other digital entities like NFTs (Non-fungible Tokens) and which stand for art and digital keepsakes and is heavily cheered up by investors and the sprawling crypto community.
Nevertheless, with many sharks taking a plunge into the Metaverse ocean, such is likely to become a popular virtual zone that would absorb all forms of human activity and would captivate our senses in the real world of zeal. Consumers and investors still need to unlock and utilize its greater worth which remains hidden.