What is Metaverse?

The Metaverse is a world where people meet and socialize, work and have fun virtually. The word Metaverse is formed from the combination of the words Meta and Universe. The concept of the metaverse first appeared in the science fiction novel “Snow Crash” by Neal Stephenson, published in 1992. The subject of the novel is about a virtual world called “Metaverse” where people communicate with each other through digital avatars.

The Metaverse is an online three-dimensional space where people can interact thanks to computer-generated objects and avatars. It is a virtual world that uses the Internet as its basic network.

Metaverse is a combination of many components that create a three-dimensional world where users interact with each other. The components that make up the Metaverse are: virtual reality and augmented reality glasses, computing power in the form of cloud, high speed internet (5G/6G network), artificial intelligence, blockchain technology, NFTs, cryptocurrencies and internet of things (IoT).

It is used for a variety of purposes in the Metaverse universe, such as business meetings, social networking, online gaming, visiting museums, visiting distant places, and accessing educational opportunities. In the Metaverse, parallel virtual worlds can be created that reflect the real world, or completely new and imaginary worlds are created.

Metaverse and Blockchain:

Metaverse was created using the blockchain system of virtual reality (VR) and augmented reality (AR) projects. In Metaverse, blockchain technology is used in subjects such as storing, processing and determining the originality of data.

The digital assets you acquire in Metaverse are recorded with the blockchain system. Thanks to blockchain technology, users’ digital assets are protected. Assets are bought and sold with digital currencies called tokens. NFTs provide immutable digital proof of ownership recorded on the blockchain. Thanks to NFTs, ownership problems are eliminated. Incorporating NFTs into the Metaverse can enable and facilitate various activities related to the trading of digital assets. It can also represent users with unique avatars, ultimately creating an economy within the metaverse. 

Owning a land, owning a property and transferring it to others in the Metaverse environment has been made hassle-free. Digital plots are represented as NFTs and given full ownership. Digital assets such as buildings and offices can be added to rented lands that can be bought and sold as in our normal life.

Some popular metaverse projects:
Decentraland
The Sandbox