A novel virtual world is coming into existence as a result of technological advancements and the world is beginning to pay attention.

This ‘world’ is the Metaverse.

The idea was first presented in Neal Stephenson’s dystopian novel “Snow Crash,” which was published in 1992. The novel depicted characters who wore 3D headsets in order to access a different reality. It would appear that this is nothing new; after all, many of us have played games like The Sims and Second Life, games with in-built virtual experience. The metaverse, on the other hand, won’t just be a single video game like other virtual worlds; rather, it will be an entirely new way for people like us to engage with the internet.

Crypto and the Metaverse
The blockchain and various cryptocurrencies are intimately connected to the metaverse when we discuss it in the present day. This is primarily attributable to the potential applications of smart contracts and non-fungible tokens (NFTs), both of which make it possible for users to make safe purchases of goods and trade them with users in other parts of the metaverse.

One thing that all of these different virtual worlds share in similarity is that the developers of each of them are counting on players to spend real money in order to buy, sell, and trade virtual goods and services.

Metaverse Platforms with Crypto Integration
MANA is the crypto-asset that Decentraland uses, and it can already be used to purchase in-game avatars and wearables, in addition to a variety of other goods and services.

Facebook has its own vision for its own Metaverse, which includes both a wallet and an in-world cryptocurrency asset. However, metaverses such as Decentraland took things a step further by putting users in charge of the future of the virtual world through the use of decentralized autonomous organizations (DAOs) and governance tokens. It gives users the ability to steer changes and updates through community voting, which has the potential to democratize the development of online virtual worlds.

In addition, MANA can be used in Decentraland to purchase LAND, the virtual equivalent of real estate. It is principally a digital asset that cannot be exchanged for other assets and is stored in a smart contract on Ethereum. If your digital land attracts a significant amount of digital foot traffic, it may even develop into a digital version of Times Square, complete with the capacity to sell advertising space on digital billboards.
Source: NFTNewsToday.com
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