The Metaverse - A Multi-Trillion Bitcoin Digital Market
The cryptocurrency space has had diverse conversations on topics surrounding the Metaverse, what it is and what potential it holds, the bottom line of it is how it's the next big thing, but several questions aren't answered in the process.
- What really is the Metaverse?
- How is it the next big thing?
- Is web 3 the Metaverse?
- How do we factor in cryptocurrencies?
To name a few, the questions above can really open us to how the Metaverse should be perceived, and I feel it's safe to consider all that is being built currently with the idea of a "metaverse" is a "self-discovery" phase for the ecosystem.
Now, what really is a Metaverse?
A metaverse as a structurally complete version of itself has to have a couple of attributes; immersive experience, immutability, flexibility, interoperability, and seamless integration with near 0-second content distribution.
They all may seem like a pile of dumb words assembled together but they really aren't. The Metaverse is a digital world, this is where humans can create a custom experience of living and so it has to have all the flexibility of life itself.
How Is It The Next Big Thing?
The Metaverse is the interconnection of virtual worlds so we're seeing all art being appreciated at its peak, music, dance, painting, poetry, and every other thing one can think of, to gain a new environment of experience.
Interoperability As An Important Factor
It's only inevitable that there will be numerous meta universes at the realization of the meta generation, similar to the growing number of blockchains and cryptocurrencies, thus, the need for these systems to be interoperable with each other, seamlessly allowing individuals to travel between virtual worlds at ease.
Content Distribution
This proves to be the particular problem with the Metaverse, VR companies and content distribution companies need technologies that will make the experience in a Metaverse real. Enabling real-time rendering of content across all systems, of course regardless of how many users are on the network.
Why Multi-Trillion Bitcoin Digital Market?
What we're looking at is a revolution in the making, we have to picture it as it is and it feels rather flawed if we're to account for its valuation via the depreciating dollar. Using bitcoin as a unit of account can help us realize its actual value.
The Metaverse is specifically web 3 because web 3 simply implies "decentralization of contents" on the internet, but the Metaverse is much more, we're dealing with the internet as an entirety while also looking at marketing as the ecosystem becomes a major channel for businesses.
How Do We Factor In Cryptocurrency?
Again, it should be obvious that the dollar is a flaw in any of these ecosystems so nobody is going to go to a virtual world to spend dollars, nah.
We're going to the highest number of Fintech spikes in history, the banks will specifically go into business war trying to retain the market share.
Cryptocurrencies will be the default currencies in the Metaverse and that proves meritable to it as the growth experienced in the Metaverse directly influences the cryptocurrency markets, resulting in a healthy effect on the world economy.