What is the metaverse?

Defining something that doesn’t exist in the physical world can be confusing. To put it simply, metaverse is a hyper-realistic and immersive virtual space anyone can enter and interact with other people as if they would do in real life. Using augmented reality (AR) and virtual reality (VR) technology, people will be able to participate in tons of ‘physical’ activities through their devices, such as shopping, meeting friends and attending 3D virtual events. The metaverse refers to a 3D virtual world where individuals can interact, play games and have lots of other experiences as they would in the real world, as Position Mobile has learned. Metaverse is expected to change people’s daily lives in many ways. Some of them are listed below:

1. We Will Stay Home More

If one can have a virtual experience close to what they would have in real life, most people will see no need to leave their homes that often. For instance, if we can have a party in the metaverse and have fun like we would if we had made that same party in real life, then the incentive to make physical arrangements for such events will reduce.

2. We Will Be Buying Virtual Items Including Property

Sounds crazy but it’s true. Many investors have already showed interest in buying property in the metaverse just like we do in the real world. Ownership of property in the metaverse will likely be verified through the use of Non-Fungible Tokens (NFTs). In addition to this, people will shop just like they do in real life. For instance, we will be purchasing digital clothes for our avatars to make them look good in the metaverse while interacting with our friends.

3. We Will Be Using Cryptos

Since the metaverse is a virtual world, we will most likely be using cryptocurrencies (virtual currencies) like Bitcoin or ETH to buy and sell properties in the metaverse. Crypto is decentralized and borderless, so it will be easier to use than fiat currencies that often have country limitations.

Many things are expected to change in the coming years. Mainly on how we make transactions, how we invest and how we interact with other people

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