The Metaverse - A World Beyond The One We Live In

Buckle up and hold on tight for the ride — we’re going meta. Discover a whole new universe with Binance today! 

The metaverse is here, it’s real and it may become a bigger part of your life than you think. The buzz around the metaverse has also gotten major players in tech such as Meta/Facebook and Twitter, eager to get a slice of the virtual cake. But what exactly is the excitement around the metaverse all about, and how can you join in the fun? There's plenty for us to unpack, so let's jump right in.

What Is The Metaverse? 

We don’t have a unique definition for it, but you can think of the metaverse as an immersive and interactive shared virtual space that combines the physical and digital. All thanks to augmented reality (AR) and virtual reality (VR) technology. Think of it as a future version of the internet. So, instead of experiencing the virtual world through a screen, you'll be inside your online experience, from shopping to hanging out with friends and even signing official contracts. 

What Are The Defining Features Of The Metaverse? 

Now that we've got the basics out of the way. Here's a breakdown of some of the key features that define the metaverse.

Accessible

A virtual 3D space accessible to all, the metaverse is a borderless world where there are no limits to how many people can use it at the same time, what types of activities can take place, or what industries can enter it. 

Decentralized

The metaverse isn't owned or controlled by big corporations or a single platform. Meaning users can take back ownership over their private data. Powered by Blockchain technology, all transactions within a metaverse are public, easily tracked and secure. 

Virtual economies

People in the metaverse have access to decentralized virtual economies powered by cryptocurrencies. Through these tokens, they can buy, sell and exchange digital assets like avatars, virtual clothing, NFTs and even event tickets on marketplaces.

Immersive experiences

Users can access metaverses via VR headset, AR glasses or just a smartphone and experience a new level of immersion and interactivity, where your visual and auditory senses are fully engaged.

User-focused

With all that said, what keeps the metaverse alive and thriving are its users. Whether through virtual creations such as NFTs or interactions through their avatars. Each participant in a metaverse is a part of the world's experience and helps shape the future of the metaverse through user-generated content. 

What Can You Do In The Metaverse? 

1. Gaming

It's fun, you can meet new people and even earn money. What's not to like? Popular games like Axie Infinity, Sandbox and Illuvium, to name a few, are some of the biggest names in the metaverse. 

2. Go to virtual gigs

Four words: Concerts in the metaverse. With your virtual presence in the metaverse, you can immerse yourself in the digital space like never before. Going to your favorite artist’s concert or even attending music festivals has become easier than ever. Plus you can interact with your favorite band or singer (minus the crowd) from the comfort of your own home. 

3. Go to social events

With the help of VR goggles and motion capture gloves, we might not even need 3D avatars soon. Imagine how awesome it would be if you can attend a fashion show or simply just stroll down Central Park in New York with dragons and other mythical creatures in the air. Although not physically of course. VR tech and quality has come a long way, and it’s only going to get better.   

4. Work 

Working online is already a reality for many of us, largely due to the pandemic. While some companies are slowly transitioning out of remote work or going hybrid, a few tech giants have made plans on building virtual office spaces in the metaverse. Soon, we might see other companies follow suit. 

5. Invest in real estate

A newer addition to the metaverse ecosystem, virtual land works just like real estate in real life. Once you buy a plot of virtual land or digital property, you can rent it out or resell. Oh, and you're not only limited to land. For example, in the Sandbox metaverse, you can buy anything from houses to luxury yachts!

How To Enter The Metaverse 

Eager to explore the metaverse but not sure how to get started? Here are two simple ways. 

Get NFTs

NFTs are the bridge to the metaverse, they help facilitate identity, community and social experiences in the metaverse. To get started use the Binance NFT Marketplace to discover, collect and trade unique NFT assets and traverse the metaverse.

Buy metaverse tokens

You can use metaverse tokens to purchase in-world products and services. Some tokens offer special in-game perks while others can represent special items like a limited edition piece of clothing for your virtual avatar or membership for a community. To get started you can deposit cash into your Binance account and purchase your preferred token. 

Ready To Venture Into The Metaverse? 

Although it might still take a while for a fully-fledged metaverse to exist, in the meantime, you can immerse yourself in parts of the metaverse that already exists. Whether you choose to attend a virtual birthday party, game with friends or invest in virtual real estate, anything goes in the metaverse. 

You want it? The metaverse probably has it, no matter your area of interest.

After all, the possibilities are endless in a virtual world.

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