Imagine a world where Rhea sitting in a small town in India is trying out the dress from leading brand "Dorothy Perkins" in London. This virtual world can become a reality thanks to the Metaverse.
The term “metaverse" refers to a place that is beyond the world or the universe as we know it, one that exists in the virtual realm but feels just as real. Such is the hype that all the crypto coins related to metaverse like SAND, MANA and ENJ has been on rolling ever since Mark Zuckerberg announced that his company, Facebook would rebrand as Meta.
Let me list out the top 5 reasons for hype surrounding the Metaverse.
1. Gaming where the users themselves play as the character and monetize the gaming tokens.
2. Create, build, buy and sell digital assets such as NFTs.
3. Users purchasing virtual plots of land that they can later navigate, build upon and monetize.
4. Entry of tech giants like Facebook (now Meta) , Google and Nvidia into Metaverse.
5. Last but not the least, Virtual reality becoming a part of our daily lives.
Though as exciting and promising as it seems , it will take another 10-15 years before "Virtual Reality" becomes a reality. Other concerns like data privacy, addiction and spending more time online also needs to be addressed.
