The metaverse has grown over the past year and gained a lot of global attention from the crypto community. Similarly, big institutions such as Facebook are now in on it and are working on launching metaverses of their own. Facebook even went ahead and changed its name to “Meta“. According to Facebook’s founder, Mark Zuckerberg, the company wants to transform the metaverse into a social platform. At the moment, the metaverse has set roots in the gaming sector, with games such as Axie Infinity leading in the revolution. These games have brought about in-game asset ownership, play-to-earn, and various ways of making money on their platforms. GameFi, the merge of gaming and decentralized finance, has also brought about virtual reality and highly detailed graphic experiences, enforcing the idea of the metaverse. What Does the Metaverse Entail? The metaverse is a 3D virtual reality space that allows users to own and sell land, travel, meet friends, and work. Notably, the three dominant elements of the metaverse are avatars, VR interface and digital interface. All these factors bring about the idea of “presence”, being entirely immersed in this space. Most analysts have stated that the metaverse market will grow to $800 billion in the next two years. Furthermore, they expect top tech companies such as Google, Meta, and Microsoft to make considerable investments to see the metaverse become a reality. The Possibility of Metaverse Cross...
