One of the most-talked-about technologies today is Metaverse. Metaverse is a virtual reality world. You can do everything that you can do in real life, such as shopping, attending a concert, buying a piece of land, and meeting friends & family in the Metaverse.
In the Metaverse, we can create real-like avatars of ourselves and go about our day. Today, when we talk to a friend online or watch something online, we are doing it in 2-Dimension; however, the Metaverse will allow us to do all these things 3-Dimensional. For instance, if we watch a video, it would feel like we are part of it. In other words, the Metaverse offers a completely immersive experience.
But what made all this possible? The answer is an amalgamation of various technologies. VR (Virtual Reality), AR (Augmented Reality), and 5G technologies are some technologies that back the metaverse world.
These were the technologies that operate the backend of the Metaverse, but what would run the operations within the Metaverse? The answer is blockchain technology and crypto. The Metaverse is a digital world; therefore, a digital currency is needed to fuel its operations in it. This is where cryptocurrencies come in. Digital assets will make the bases of the Metaverse world.
Meanwhile, NFTs will be used for purchasing land in the Metaverse. Non-fungible tokens, or NFTs, are stored on the blockchain and indicate ownership of something.
Decentraland
The growing interest in the Metaverse has made platforms such as Decentraland quite popular. However, Decentraland currently doesn’t offer an immersive experience that the Metaverse promises; it’s more like a proof-of-concept. Experiences such as shopping and attending music concerts are undoubtedly worse than on current 2-D platforms such as Amazon and Zoom.
Various basic elements such as high-quality visuals & graphics, strong communities, addictive video games, and content are missing.
Mark Zuckerberg has said in a statement that it would take around 5-10 years to create a full metaverse experience and make it common among people. At the same time, other experts believe that it can take even decades for people to start using it in their day-to-day life.
Let’s Look at the areas where innovation needs to occur to make the Metaverse experience seamless:
- Better Audio Quality: Remember when we were working from home. Hours of zoom calls used to leave us more fatigued. That’s because of the strain on our minds due to poor audio quality. If a fully immersive experience needs to be achieved in the Metaverse, decent audio quality is necessary.
- Better UI: A better UI is a must for an interface that is pleasant to the eyes.
- A higher number of participants: Today, most platforms limit the number of participants. There shouldn’t be any network or latency issues as more people join in.
- Wallets: Wallet onboarding should become smooth, like web2 logins allowing more people to participate as fast as possible without delay.
- Security: Security is another important aspect. Reliable and high validator blockchains can drastically reduce the risk of hacks and breaches.
These were some of the major changes that need to be improved for a pleasant experience in the Metaverse. Let’s see how these changes are implemented in the future and would be able to experience a highly immersive experience in the Metaverse.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2022/05/25/how-crypto-will-fuel-the-metaverse-world-and-make-it-a-close-to-reality-experience/