Metaverse: A combination of digital reality and blockchain technology

The metaverse represents a continuous online 3D environment, which is increasingly considered a vital component of the upcoming digital experience. This concept is often referred to as the “experience internet” and the “three-dimensional internet,” as it allows users to engage virtually, where they can work, communicate, participate in games, and build social connections. This new type of internet is closely related to the development of Web3.

Origin and Definition of the Metaverse

The term “metaverse” first appeared in Neal Stephenson's 1992 science fiction work “Snow Crash,” where it described a fictional universe that exists parallel to the material world. The author included elements of virtual reality, augmented reality, and mixed reality in his vision. Today, such a fully realized metaverse has not yet been achieved, but the technologies needed for it are rapidly advancing.

Current Status and Technology Development

Several technology companies are actively working on various versions of virtual worlds, referred to as the metaverse, although many avoid using this term. According to experts, video games are currently the most successful realization of a metaverse prototype. These gaming environments offer the most functionality and user engagement.

The Role of Blockchain Technology in the Metaverse

Although blockchain technology is not strictly required for the operation of the metaverse, it offers significant advantages. This technology enables the digital economy with its currencies, functional tokens, and virtual collectible assets (NFT). Users can own these digital items and sell or exchange them easily, even across different metaverses.

In the metaverse, cryptocurrency storage solutions can be used that give users better control over their virtual assets. Additionally, blockchain technology is capable of providing secure and simple management systems for the upcoming metaverses, ensuring data security and operational transparency.