The term ‘Metaverse’ became way more popular after Mark Zuckerberg formally renamed Facebook to Meta, intending to make the metaverse a reality and assist individuals in enhancing their connections, discovering communities, and growing their businesses.
However, the concept of the metaverse is quite old if you are aware of the online gaming world but it is more than that. Metaverse refers to a digital world that merges virtual and augmented reality leveraging cutting-edge technologies in this fast-growing world.
As per precedence research, the size of the global metaverse market is estimated to reach USD 1,607.12 billion by 2030, growing at a CAGR of 50.74% from 2022 to 2030. Blockchain will give metaverse businesses the chance to offer their customers cohesive services that’ll converge their physical presence with 3D digital presences, changing how customers interact and exchange cryptocurrencies or other unique digital assets (NFTs).
Digital art, virtual goods, or personal experiences can be turned into secure NFTs and stored on the metaverse blockchain as assets. To build a self-sustaining digital economy, metaverse users can exchange these NFTs for cryptocurrency to buy other metaverse entities or choose to cash out for fiat money at any moment. The NFT valuation and turnover can be accessible for innumerable systems and interfaces to work together seamlessly and interoperable through blockchain.
Continue reading: https://www.financialexpress.com/digital-currency/how-can-blockchain-support-the-metaverse-economy/2638079/
However, the concept of the metaverse is quite old if you are aware of the online gaming world but it is more than that. Metaverse refers to a digital world that merges virtual and augmented reality leveraging cutting-edge technologies in this fast-growing world.
As per precedence research, the size of the global metaverse market is estimated to reach USD 1,607.12 billion by 2030, growing at a CAGR of 50.74% from 2022 to 2030. Blockchain will give metaverse businesses the chance to offer their customers cohesive services that’ll converge their physical presence with 3D digital presences, changing how customers interact and exchange cryptocurrencies or other unique digital assets (NFTs).
Digital art, virtual goods, or personal experiences can be turned into secure NFTs and stored on the metaverse blockchain as assets. To build a self-sustaining digital economy, metaverse users can exchange these NFTs for cryptocurrency to buy other metaverse entities or choose to cash out for fiat money at any moment. The NFT valuation and turnover can be accessible for innumerable systems and interfaces to work together seamlessly and interoperable through blockchain.
Continue reading: https://www.financialexpress.com/digital-currency/how-can-blockchain-support-the-metaverse-economy/2638079/
