'Big data', 'cloud computing', 'edge computing', '5G', and 'NFTs'... These words appeared overnight and have not stopped being squeezed since then. These terms are repeated incessantly today, even though the average person does not understand what they mean. Now it's the turn of the metaverse. ME-TA-VERSE. If you haven't heard of it, you will soon.
The truth is that no matter what you do or do not do, the world is rapidly evolving towards the need to create products and develop ecosystems in a new economy that will revolve around these virtual worlds for years to come.
Thus, metaverses allow us to link physical reality with virtual reality by creating a digital space where we can all converge and carry out activities that impact both the virtual world of our avatar, and the real physical world.
This digital universe is intended as an alternative to the real world, where digital currencies (cryptocurrencies) and NFTs (Non-Fungible Tokens) represent the medium by which users can purchase products or services in it.
With the power of NFTs to certify the originality of a work or a specific item, platforms such as the Space Metaverse supportdecentralized commerce combining unique sensory properties in combination with VR technology.
The Metaverse and NFTs: A Unique Link
The introduction of NFTs in metaverses is a giant step forward in Second Life-type virtual platforms. The characteristics of these tokens allow the creation of original and exclusive products that belong only to whomever mints or buys them.
In the case of metaverses such as Decentraland or Space, the NFTs guarantee investors the ownership of the acquired assets— be they constructions, real estate or lots of digital land.
NFTs have grown in popularity within Metaverses because they represent the primary means by which people can acquire different objects within the universe, such as art, houses, and cars, among others.
Driven by these powerful attributes, the sale of tokens in Metaverses has increased considerably in recent months given their enormous popularity.
NFTs fit perfectly within the concept of Metaverses. According to the Coinmarketcap portal, about 1,100 NFT tokens have been sold within the Metaverse The Sandbox for an amount of 1.85 billion USD.
The high adoption of NFTs within The Sandbox user-generated gaming platform gives us an idea of the power that NFTs have within these virtual spaces and how they are leading a new style of trading between people, even through avatars.
The digital asset market has grown in value in recent months, partly driven by NFT games, another crypto asset class gaining in popularity.
Furthermore, Metaverses are attracting the attention not only of ordinary users seeking to escape reality, but also investors who see unimaginable opportunities in the digital economy. One of those opportunities is the certificates of authenticity that Blockchains provide, especially in the real estate area.
With a total sales volume close to 100 million USD in metaverses, it is clear that digital earth and other digital elements in NFT format are enjoying great acceptance and demand among investors.
Investors are willing to pay several thousand dollars or more to own one of these digital objects.
Space Metaverse: The New Decentralized Commerce
Within the metaverse, sales of virtual spaces, purchases of digital assets with astronomically high figures, and an increasingly flourishing trade in terms of human and monetary capital are taking place.
Space is a virtual world where users create a vibrant user-owned economy through unifying knowledge, joint effort, and fair rewards distribution based on a culture of collaboration and economic opportunities.
The Space Metaverse focuses on allowing the development of key elements of human interaction in a single space, such as the social, economic, and individual aspects of the users who enter this world.
As a metaverse catered to the arts, Space aims to provide powerful builder tools that allow users to design and create immersive commerce spaces without barriers to make shopping experiences as realistic and fun as physically going to the store.
Beyond developing tools that make creating an immersive commerce space easy, Space will also implement powerful tools for selling products and managing orders. Users can share their designed spaces as templates for other people to use for different business use cases.