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Metaverse - Indodax Academy

Do you know the social networking site Facebook, one of the most famous internet platforms? Now, Facebook has done a rebranding to signal support and embrace the futuristic ideas provided by Metaverse innovation.

The CEO of Facebook, Mark Zuckerberg, announced to be precise on the October 28, 2021, that he had changed his company name to Meta Platforms Inc., or for short, Meta. Today, the gaming industry is booming, and the emerging play-to-earn model coupled with blockchain and the Metaverse is a not too distant future.

The word “metaverse” is a combination of two words from the prefix, namely “meta” meaning outside and “universe” or the universe. You could say “a world beyond our current world”.

In the Metaverse, virtual lands, avatars, and even buildings can be bought and sold. This is most often done using crypto assets. In this virtual environment, people can move freely with their friends, attend events and buy goods and services — essentially, do the exact same things they can do in the real world.

The term is usually used to describe the concept of future internet interactions, consisting of highly detailed 3D virtual spaces, then connected to a perceived virtual world.

Many Blockchain projects have been working on this metaverse. Metaverse can also be broadly broken down into two different platform types. The first centers around building a blockchain based metaverse, using NFT and crypto assets. Platforms like Decentraland and The Sandbox allow people to buy virtual plots of land and build their own neighborhoods within them.

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