Hello Everyone!
In this article, I will be covering the metaverse and the potential behind this technology with some facts and some real truth and warnings behind it. Be sure to stick towards the end to know everything from beginning to the end.
Metaverse:
Before understanding the term metaverse, we should know about our digital life. We all have been exposed to digital life and all of us are working online and shopping online and spending time with our family and friends in the social media together in the online digital world. The METAVERSE takes this concept and take it to one step above. Where our land and place where we work is digital and Basically it is kind of replica or so-called replica for the real world in the digital world.
I used the term so-called here so take it with a grain of salt.
BLOCKCHAIN AND METAVERSE?
Facebook has announced that they are working on the metaverse and has officially changed their name to the "meta" after the announcement which has pumped so many crypto coins which was just a small part of the metaverse. Projects like:
- MANA
- SAND
- DECENTRAALAND
has shown the multiple time gains within a short time frame after the announcement.
If you understand the NFT hype, it looks like the hype profit is moving from the NFT to the METAVERSE token. We will talk about the price potential at the end but right now we will talk about the advantages of the METAVERSE.
ANOTHER UTILITY OF THE BLOCKCHAIN:
You can imagine, in the metaverse, it is very essential to use Blockchain technology. I mean without the Blockchain metaverse won't be metaverse. It is not an optional thing here, it is a must thing, and any project whether it is a Facebook or any other tech giant they have to use the Blockchain at some point to verify the transactions or validity of the product in the digital world. This is because you have to prove the validity of the product that you own in the metaverse world and Blockchain plays the role in that. It is similar to owning an NFT but in a digital world. This adds another use-case of the Blockchain and promotes the credibility of cryptocurrency and the crypto world for sure.
HUGE OPPORTUNITY FOR PEOPLE LIKE US:
If you have skills that you can use to create or sell digital products then it will be a huge boost for your portfolio in a project like a Metaverse. I mean you need to be a good programmer and coding is the first thing that you must learn. Yes, you must learn, I don't see a future without programming 20-30 years later. And if you manage to do so, there are endless opportunities. Not, only that if you are good at any other thing like marketing, singing, dancing, METAVERSE opens the door of new opportunities for marketing and selling your skills in the new world.
DECENTRALIZATION:
All of this leads to the increase of knowledge about the technology and the decentralization and Blockchain technology which obviously helps to make people aware in the long term.
There aren't only the advantages of this. There are a few disadvantages attached with this which you can read below:
- Decrease in social interaction in person.
- Increase in digital scams.
- People without tech knowledge may find it hard to understand.
Possibilities of the METAVERSE HYPE in the crypto world:
I would like to end all other things here and talk about the crypto projects and the hype and price potential which all of us really care about. I will talk about it shortly, sweet, and in fact.
Look at the position of the Metaverse projects total Crypto MarketCap. It is ranked #19 and although we have seen a huge growth in many projects I think this number is really small and considering the ehuge hype Interest of big tech giants like Facebook and real-life utility, METAVERSE deserves to be in the #10 rank. For that, the MarketCap needs to be nearly double. I guess you guys what I mean by that and understand the price potential.
Thanks for reading. Hope you learn something more today.
Image source: pexels.com
