There are many versions for the definition of a metaverse; but almost all of them agree on it being a parallel digital world powered by virtual and augmented realities. The term is on an evolving pathway since its first mention by Neal Stephenon in his novel Snow Crash, where it referred to a “computer generated universe”. Today, however, it refers to a parallel virtual universe that you can access via digital gadgets such as phones, PCs, headsets and more.
There isn’t only one metaverse out there, many tech companies are rushing to create their own metaverses, other companies are building on others’ metaverses and enriching them with products, property, and events, like Nikeland. Games, such as Fortnite, are capitalizing on this by hosting virtual concerts for their players, or virtual contests.
Many envision the Metaverse as a parallel world that will compliment, if not compete, with the real world. This is because of the various opportunities it is presenting; it is a new world and therefore fresh and with a large capacity for economic, technological, and creative opportunities. The Metaverse is also linked with many Web 3.0 applications, not to mention decentralized applications (dApps), non-fungible tokens (NFTs), and cryptocurrencies.
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