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Metaverse: Take Your Place in the New Universe by Reading This Detailed Guide

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    Coinhunt CC

  • Reading time

    5 min read

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In 2021, the word metaverse began to circulate a lot in the crypto world. The fact that Facebook changed the company name to Meta and many famous technology companies invested in this area added popularity to the metaverse.

The concept of the metaverse is formed by combining the Greek word meta and the English word universe. So, what does this concept tell us? This concept expresses a new universe consisting of all digital and virtual worlds.

“The concept of the metaverse first appeared in the novel Snow Crash by Neal Stephenson. Roman characters had avatars on the metaverse, and they had a life in this universe."

What Can the Metaverse Add to Our Lives? 

With the developing technology, the interaction of people has increased and communication in a digital way has become easier. However, thanks to the metaverse, this interaction will be carried to different dimensions. By appealing to the visual and auditory senses, the reality dimension will be increased. In this digital universe; you may create your own character. Your character will be able to do many activities such as working, having fun, playing games, and going out to dinner with his girlfriend that he met from the metaverse. Maybe even before you go out to dinner with your girlfriend, you may buy her a gift from a store in the metaverse shopping center.

Metaverse and NFT

In our previous article, we shared detailed information about NFT's. If you want to read it, please click the link below.

Non-Fungible Token (NFT): A New Adventure in the Blockchain World

We can briefly call NFTs digital artifacts. Imagine that you own a painting by Picasso. Of course, you want to display it in the corner of your home. This is exactly how it will be in the metaverse. Let's say you have one of the NFT artworks of a famous artist. You will be able to put this NFT at the entrance of your house or workplace that you bought in the metaverse. In fact, we can say that the life we live has become more digital.

You can play a song you love and want to listen to all the time; in a disco you own in the metaverse till the morning.

Lands of Metaverse

Today, real estate or property ownership has always symbolized power. In the near future, the metaverse will become widespread and the value of metaverse lands and real estate will increase. So, where to buy the "Metaverse plot"? How to buy a metaverse plot?" are asked a lot of questions.

Recently, many famous companies have invested in metaverse lands which makes this ecosystem more popular. As in real life, you can sell these real estates or rent them out and earn passive income.

In the metaverse where lands of different sizes are sold, users can build houses and facilities on their lands or earn advertising income by renting their lands to companies.

Where Can I Buy Metaverse Land?

One of the most curious subjects is metaverse selling platforms and the prices. Determining the value of the land in real life; features such as square meters and location are also valid in the metaverse. Each platform has its own set of parcels and a corresponding one.

The most popular of the platforms selling land; Decentraland and Sandbox. Below you can find brief details of both projects.

Decentraland (MANA)

Decentraland working with Ethereum blockchain infrastructure; it offers players in the metaverse the opportunity to purchase land and build on these lands. The platform also supports online interaction of all users. E.g; You can build a nightclub on your land and invite your friends to have fun in this place.

Decentraland, also known as the social metaverse which offers a new world to its users, especially by combining with VR systems. The currency of the Decentraland is MANA. The lands in this universe are called LAND and cannot be tampered with after purchase. Since it is a decentralized system, all rights belong to the landowner until he sells it.

If you want to reach the details of the project, which also has its own marketplace; you can click on the picture below.

Sandbox (SAND)

Sandbox is another popular project of the Metaverse. It is a project where NFTs are at the forefront, traded on the Ethereum blockchain. This project, which is in the play-to-earn category, is completely community-based. Thanks to NFTs; players can design, develop, and control their own universes as they wish. The local currency of this project, which aims to create a unique environment, is the SAND which is also an in-game exchange tool. The lands in the game are named LANDS. All other holdings in the game are known as ASSETS.

We mentioned that the universe in the game is created directly by the players. How will the ownership, originality, and copyright of these universes be handled? This is where blockchain comes into play. Thanks to blockchain technology and smart contracts, players' ownership of securities and real estate are guaranteed. If you want to explore Sandbox, you can reach the alpha version of the game by clicking on the image below.

Metaverse Projects by Market Cap

In the cryptocurrency ecosystem, there are around 200 metaverse projects as of now. You can see the top 5 metaverse projects by market cap below.

Decentraland (MANA) 5,561,932,625 $

The Sandbox (SAND) 4,064,046,271 $

Axie Infinity (AXS) 3,311,810,330 $

Theta Network (THETA) 3,268,311,420 $

Enjin Coin (ENJ) 1,644,583,525 $

These data belong to 05.02.2022.

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