The Metaverse is a network of social platforms utilizing video games to build communities where people and ideas can connect and conduct business without the binding traditions of the past. The metaverse is more than just video games. With cryptocurrency backing the exchanges with fiat currency, entire in-game and cross-game economies can be built with communities and the creators who play in them.
The Metaverse Already Exists
Some may call the metaverse science fiction, but today it is science reality. Massive Multiplayer Online Roleplaying Games and other games like them have been around for a very long time. MMORPGs have seen popularity in many countries both in the east and the west, and have connected fans of the franchises globally for many years. In theory, the metaverse is a term for all of these sparse parts of the gaming universe coming together into a shared reality connected through any one cryptocurrency.
Large companies such as Square Enix and Riot Games are already working on building their own in-game economies, and of course a great many smaller ambitious companies have launched their own currencies as well. With the minting of NFTs and other digital assets, an entire gaming industry economy is formed. As the metaverse develops, we may begin to see entire game universes connected through the digital marketplace, hence the name.
How Does the Metaverse Work?
Think of your favorite online game, you, the player, engage with this game through an avatar. Sometimes this may take the form of some hero character, a soldier, or some other first person perspective. You and your avatar traverse through a game-world and engage with other players, enemies, take on quests, complete objectives, and more. These things are already familiar to most players today.
As the metaverse continues to develop, these game worlds may likely become interconnected to one another so that players can take the valuables they find in one game, and bring them with their avatar to another. The same holds true for digital currency. Cryptocurrency provides the framework for a value exchange system so that the currency in one of these game worlds can be translated into another.
The Future of the Metaverse
Right now, various large companies are trying to find ways to make their game worlds engaging, fun, and attractive to players and finding ways to be connected to the metaverse. Over this next decade, we may see new technologies that interface us to video games in ways only thought up of in fiction. The key thing that will make today's video games different from future games is the interconnectedness of them all. The metaverse awaits.