Steemit Crypto Academy Contest / S3W1 - The Metaverse by @chenty

Good day everyone, the steemit engagement contest is back for season 3 and I'm glad to be taking part. This is my first time submitting an entry for the crypto academy's engagement challenge which I aim to change this season.

This week's challenge is on the exciting technology, Metaverse.

What Is Metaverse?

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Metaverse is a technology that aims to allow humans experience the real world through virtual reality.

In 1992 almost 2 decades now, Neal Town Stephenson wrote about a concept in his book. The concept was of the idea that instead of just using our devices for the basics like calls and texts, we as humans will be able to interact with one other and “feel” our senses via or on the internet.

This concept was therefore given a generic term, Metaverse where humans will be able to interact, represent themselves and feel their senses virtually on the internet via their avatars.

Let’s not be swayed to think Metaverse is a new idea because it is not. It’s only gained popularity due to Mark Zuckerbeg CEO of Facebook .

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Although metaverse is not a new concept or theory, it gained more popularity and recognition last year after CEO of Facebook, Mark Zuckerberg announced that the parent name of the company was to be renamed “Meta” but the social media app Facebook will still be called ”Facebook”. The term Metaverse is new but the idea behind it has been in existence for almost 2 decades. With this, Mark hopes to change the world by making Metaverse technology global.

To achieve this global aim, Metaverse is going to use virtual experience largely with video games. Metaverse is not just a video game but also geared towards crypto world via NFTs.

virtual reality
The Virtual Reality Technology used.

Mataverse is three dimensional virtual experience that has projects like decentaland and axie infinity bringing Neal Town’s concept into reality by helping users feel their senses virtually.

The world of crypto is evolving itself and so it’s no surprise the Metaverse technology is using that route. This however helps the crypto world to become even more successful and further materialize Satoshi’s dream of financial freedom.

Cryptocurrencies have been accepted because they are decentralized, secured and transparent. Metaverse is looking to copy the functionality of cryptocurrency projects by adopting decentralization and blockchain technology.

Realizing the success of decentralized platforms and the potential in Metaverse, it’s not much of a surprise Facebook has decided to tap more into the Metaverse technology.

Technologies That Can Be Utilized To Achieve Security, Ownership, And Others In The Metaverse.

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The Metaverse technology has come to stay and to do that and provide quality services, it has adopted some technology to achieve security and ownership.

Studying or observing the seven (7) layers of metaverse, we can clearly see experience, discovery, creator economy, spatial computing, decentralization, human interface and infrastructure.

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Decentralization is the layer that is used to achieve security and ownership. Decentralization entails edge computing, AI agents, microservices and blockchain. Metaverse has integrated into the cryptocurrency world and so it's only natural it tries to pick the advantages of cryptocurrencies and try to even make them better.

Blockchain is the technology used by Metaverse to achieve security and ownership. We all know decentralization to be a system where no single authority owns a platform but rather owned by several individuals. Decentralization in cryptocurrency is also a form of financial freedom because it allows users to have complete control over what happens to their assets when, where and how.

The blockchain technology is a very secure technology that is protected by cryptography. They are very difficult and near impossible to hack. Metaverse is a platform worth several millions. Because of this, it needs a very secure system and blockchain technology has proven to be just what it needs.

Blockchains use distributed ledgers to record every data or transaction. This promotes transparency. Metaverse use blockchains which means they are also transparent. These stored data cannot be edited because a change in one single block means that all other blocks of the network on all computers must be changed which is just not possible. This allows blockchain networks to be as transparent as possible because everything is recorded.

The NFT platforms which also existing metaverse virtual experience projects are of much relevance and of very high value because people invest millions into the platforms.

Just imagine how the NFT projects will be without a system that keeps record of everything. There will be always be conflicts regarding ownership of assets like lands. The real owner of these NFTs and buyers will be in dispute because bad people will come out with devious ways to cheat the system. Some people might lie and sell assets to multiple people.

The use of the blockchain means that the metaverse would have minimum conflict about ownership.

Blockchains do not need third parties or intermediaries for transactions. The metaverse technology uses the same system and transactions occur directly between the parties. This is particularly needed because the Metaverse technology has shifted its focus to NFT games which involves so much of buying and selling. Transacting without third parties allows the users to perform transactions whenever they want.

Other technologies that help Metaverse are Mobiles. Smart glasses, Wearables, etc are part of the human interfaces layer that help Metaverse deliver virtual reality to users.

5G, Wifi 6, 6G, etc are part of Infrastructure with help the Metaverse have a stable and working ecosystem.

Gamification Developments That Look Like The Metaverse.

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Decentraland (MANA).

decentraland

The decentraland or MANA project is a blockchain metaverse project that runs on the Ethereum blockchain network. It is a virtual game that allows users or players to purchase, trade NFTs and lands.

Two (2) software developers, Esteban Ordano and Ariel Melich in 2015 dounded Decentraland project. The team raised $26 million to help fund the project. The project is decentralized meaning, users have authority and governance is not left in the hands of a single authority.

There are up to 90,601 lands represented as ERC -721 NFTs on decentraland. The MANA is the digital currency used on the platform for transactions and governance.

Visit Decentraland to explore the project and understand its use.

decentraland

There's Explore feature that help users explore the LANDs owned by people on the platform. The LAND owners are given the freedom to build whatever they want on their asset.

explore

There's Trade feature that allows the users to trade their assets.

trade

There's Create feature that allows users to materialize the aim, "test the limits of their imagination".

create

The decentraland project works by connecting your crypto wallet to the platform and then using your MANA to perform and engage in activities and transactions. When wallet is connected, the Avatar is designed and terms are agreed.

You then explore the platform with your avatar in the Genesis World.

The decentraland project stands tall from the other projects because its token can act as currency. Also, users can rent their lands out and earn passive income. Users are allowed to designed their lands creatively.

Pokemon Go.

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Pokemon Go

The Pokemon Go project is a mobile game for both Android and IOS devices released in July 2016 by Niantic. The project is a collaboration between the Pokemon franchise and Nintendo.

The game works by using the GPS of devuces to virtually battle Poken, a virtual creature. The game makes the Pokemon appear as if it's in the player's real location. It uses AR technology to promote physical activity.

After successfully creating an account, avatars are created. Based on your GPS location, the game creates a map for your avatar with location like Pokemon Gyms and PokeStops. The Pokemon Gyms are used as battlefields or battle grounds. The PokeStops contain rare Pokemon.

If I am the user and I move around, my avatar moves around the map presented by the game. The avatar encounters different Pokemons which he or she has to battle.

Pros And Cons Of Metaverse.

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Pros	Cons
There's advanced digital communication where users can interact with other users through their avatars.	The technology used is not effective. The technology involved can be very expensive. The VR is expensive. Aside that, the technology can be quite sophisticated to understand.
It's an opportunity to learn from other users.	Real life human interactions is limited as people spend too much time playing the games.
The fact that Metaverse uses blockchain says a lot. The platform is secure and decentralized.	Although secure, it is not 100% secure and private. There have been cyber attacks.

The Future Of Metaverse.

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Metaverse or Meta gained popularity when facebook announced they were changing its parent name to Meta. This name, Meta raised a lot of eyebrows and we all did some research into it.

There are already a lot of virtual reality games that are doing what Metaverse seeks to achieve. Metaverse has penetrated the cryptocurrency world by being more invested in the NFT side through NFT games.

The NFT world on its own is something just gaining popularity and Metaverse adding to that gives more popularity.

The use of blockchains promote decentralization and ownership which mean that people who decide to use Metaverse have no worries about security and financial freedom. They are not controlled by single authorities which is a good thing.

So if you ask me if Metaverse is the future, I would say Yes.

Thank you.