Metaverse can simply be regarded as the next level of future technology that allows users the ability to interact more closely with the internet with the aid of visual reality.
Metaverse users are allowed to interact, socialize, have various types of fun, work, earn, trade lands, and perform various real-life duties inside the internet using their avatars.
- Additional use/meaning
Metaverse has tended to add more use to cryptocurrencies for since cryptocurrencies are digital currencies, they should be used in a digital world.
- Increased market cap
Since the rise in metaverse awareness, a lot of cryptocurrencies have been created to serve various metaverse platforms. These tokens are primarily made for making purchases and engaging in various activities in the digital world.
- See below
The above shows the list of top metaverse tokens by market capitalization.
We will also see from the above that the overall market cap of metaverse coins is currently 22 billion USD. This is against the 1.7 trillion market capitalization of the entire cryptocurrency thus making metaverse constitute about 1.3% of the entire cryptocurrency market capitalization.
- More awareness
The emergence of the metaverse has created more cryptocurrency awareness. The fact that most metaverse platforms are blockchain-based and use cryptocurrencies for transactions, has made cryptocurrencies more popular amongst those who were formally ignorant of it but aware of the metaverse. This awareness has led to the more adoption of cryptocurrencies thus adding more value to them.
- Promotion of digital economy
The growth of the metaverse keeps increasing and promoting virtual economy and this increased virtual economy will certainly add more value to digital assets.
- improved learning
It is very much apparent that learning improves with an improvement in technology. We have seen this will the emergence of the internet which birthed smartphones, computers, YouTube, and other online platforms which have made learning much easier and knowledge more accessible.
In the metaverse, it is much easier to learn as one can easily travel anywhere at any time without having to leave his bedroom, this allows one to easily observe different cultures both ancient and modern.
Also, one will not have to stay on screen while learning certain things from the internet but can through the aid of virtual realities, feel and interact with whatever one is studying.
- Decentralization
Decentralization has become the future of technology. This is seen in the most recent development whereby many platforms are being developed in a decentralized manner thus allowing equal usage and rights to all users.
This is also seen in the current purchase of Twitter by Elon Musk who has rightly said that he aims at making free speech most paramount on the platform. This draws closer to the aim of decentralization but until all his plans are executed we will know.
Metaverse being all about a decentralized virtual world that allows free access to everyone with equal rights and opportunity without any central head is also proof that it is in line with modern technology.
- Work efficiency
Work efficiency is another thing the metaverse is tend to achieve. Because in the metaverse, one can interact and associate with work colleagues, go for interviews, and perform other work-related activities without having to even get up from bed.
With metaverse, one can keep fit without visiting a gym house, have a real-life gaining experience, and a lot more.
CONCLUSION
The metaverse is obviously the future of technology and it is working hand in hand with cryptocurrencies which are also the future of finance. The very fact that most metaverse platforms are built on blockchain and use cryptocurrencies for transactions in the digital world has proven that it is quite compatible with the world of cryptocurrency and blockchain at large.
Hope you learnt something.
Hi, @srrebullient,
Thank you for your contribution to the Blurt ecosystem.
Please consider voting for the witness @symbionts.
Or delegate to @ecosynthesizer to earn a portion of the curation rewards!