What Is The “Metaverse Crypto”? – Fully Explained

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This represents the Metaverse crypto space.

The idea that you can enter virtual worlds as if they were real was just a common theme in various works of fiction. Believe it or not, it will soon come true, as we can see many of its early versions today! You can find many resources providing answers to “What is Metaverse Crypto?”, but you might find them hard to believe.

It will be the future no matter what, so you might as well adapt to it. Learn enough about the Metaverse, and you can make it work for your business or career. Fortunately, so many free resources on the internet can help you figure it out. Even better, you’re on one of the best ones as I’ve been covering the Metaverse in many of my previous articles!

I’ll start things off by sharing more details about the Metaverse. Specifically, I will be explaining where this concept came from and what its characteristics are. Then, I’ll talk more about how it is starting to affect our daily lives. More importantly, I will show you the many ways you can benefit from this trending innovation.

The Metaverse: Linking the virtual and the real

This represents a person in the Metaverse.

As I said, you can find the idea of entering virtual spaces in several stories. For example, it’s the plot of the recent sequel film called “The Matrix: Resurrections.”

Yet, we can trace the word “Metaverse” farther back in time. It first appeared in Neal Stephenson’s 1992 science fiction novel “Snow Crash.”

If all this seems hard to believe, you’re not alone. Fortunately, Matthew Ball elaborated on what the Metaverse would look like if it became true.

According to him, it will exhibit these traits:

  1. Online 24/7 – The Metaverse doesn’t “switch off” or “shut down” like a regular device. Instead, it’s like a normal location that you can visit at any time.
  2. Shared experience – There will be stuff happening inside that we will get to experience together. For example, the gaming community of the Epic Games title Fortnite got to see the world of their beloved game flip upside down for the end of its Season 2.
  3. Do stuff – Again, let’s take that season-ender for Fortnite as an example. While that’s going on, players may run around, sit still, or do emotes as the event goes. In other words, the Metaverse isn’t just a roller coaster ride where you let stuff happen. Instead, you can do stuff separate from other users.
  4. A virtual economy – It will enable people to buy and sell stuff. For example, players of the NFT game Axie Infinity can buy and sell in-game pets. Even better, this lets them earn cryptocurrency to swap for fiat money. You can now play games to make money!
  5. Mixed reality – This new tech world will host events that involve both the virtual and the real world. We could take the well-known video game named Pokémon GO as an example. It lets you use your mobile phone to view and capture in-game pets but in the real world.
  6. Shared online space – It should enable apps to work well with each other. The Cosmos (ATOM) blockchain wants to do with cryptocurrencies. It will link them all to make them easier to use.
  7. User-generated content – Once this tech world is up and running, you can make stuff in there. The digital real estate platform Decentraland (MANA) lets you do this already. You can create NFTs then see them in Decentraland.

Read More: How Does Cryptocurrency Trading Work?

Can we see it in action nowadays?

This represents the Meta company.

Many companies want to make the Metaverse into reality. This is why they are making strides in virtual and augmented reality technology.

The best example is Mark Zuckerberg’s tech company. He changed its name from Facebook to Meta to reflect its new plans for this tech world.

That’s why he promoted Ray-Ban Stories, a pair of smart glasses that allowed you to record videos and take photos. It’s a step towards linking the virtual world and real life.

Zuckerberg’s attempts weren’t all hits, though. He invited tech reviewers to test the initial version of his Metaverse platform called Horizon Workrooms.

Virtual Work Spaces

It was meant to help workers collaborate in a virtual space. The reviewers entered it by wearing virtual reality headsets, but they found it boring.

Some didn’t see the point of wearing a VR headset, as it seemed like a Zoom meeting. Yet, this didn’t stop Zuckerberg as he still released a similar platform called Horizon Worlds.

What’s more, Metaverse crypto networks are getting closer to making this come true. Some examples include Decentraland (MANA), Sandbox (SAND), and Axie Infinity (AXS).

The first two have been getting more popular since they allow users to own digital real estate. They can make money by charging others to play games or join activities inside.

Their native cryptocurrencies prove the hype too. MANA and SAND tokens have been increasing in value since 2021. Meanwhile, Axie is well-known as a play-to-earn game.

It has been a great help for Filipinos during the pandemic. Thanks to this game, they could pay bills, while some were able to purchase homes in the real world.

You could also own land in Axie Infinity, but its tokens haven’t been growing much recently. This doesn’t mean the end for this mobile internet game, though.

Can I invest in the Metaverse?

This is an online stock trading platform.

If anything, this could signal the best time to invest in it! At the time of writing, AXS tokens were worth $93.24, a far cry from its former heights reaching $170!

Buy now, and you may gain a lot once the price goes up again. If you still don’t want to invest in the Metaverse, perhaps Shanghai’s recent move would change your mind.

The city included the tech in its five-year plan. As you can see, this is beyond just having a sense of presence while playing online games.

The Metaverse is changing everything in our world, even down to how we do business. The Metaverse crypto tokens like AXS are a start. The question is, how do you start investing in it?

These cryptocurrencies try to build this new tech world in one way or another. You could benefit from their efforts by holding on to their Metaverse crypto tokens or staking them.

AXS tokens were my top pick for the best coin for staking. It lets you earn a whopping 114% APY. In other words, you could make more by setting them aside for a year.

Besides Metaverse crypto tokens, you could invest in another way by learning more about the tech. You can find so many platforms that are building this new tech world.

For example, the Octi social media app lets users earn from their content. It allows them to earn Octi coins that they could use as discounts for major brands.

These apps will soon be the new place where businesses should be. Believe it or not, TikTok marketing is a trending method of promoting products and services.

Final thoughts

That’s a lot to take in, isn’t it? Still, the Metaverse is starting to take shape, so you should prepare. Thankfully, the internet has so many resources that can help you.

For example, you could check the specific websites of these platforms to learn more. For example, head to Facebook to learn about its marketing features.

Better yet, just read more Inquirer USA articles. Those will tell so much more about the Metaverse and all the recent tech trends that are shaping our world!