What is the Metaverse?

The Introduction of the Metaverse Concept

The Metaverse is made up of the roots Meta and Verse, with Meta meaning “beyond”, and “verse” meaning “universe”. “
The novel in 1992 depicts people competing in a virtual reality world by controlling their digital bodies to advance in society. In the close to 30 years that followed, the concept of the metaverse was presented in films and TV shows such as The Matrix, Top Gun, Westworld, and games such as The Sims. During this phase, the concept of metaverse was vaguer and more understood more as parallel virtual worlds.
The development of the metaverse is a process and it is probably covering the technology, the content and the carrier side all evolving

On the Technology side, Blockchain Technology is evolving, with communities represented by Ethereum exploring how blockchain applications can be enriched and exchanges represented by Coinbase, Uniswap and Opensea providing better trading capabilities for the blockchain economy.

On the content side, the number of users has grown as the number of games in the metaverse concept continues to grow and the ecology continues to strengthen.

On the carrier side, the underlying technologies such as communication technologies, virtual reality, and chips are also evolving.

A Metaverse Permeation path

This issue can also be interpreted as our distance from the metaverse. Nowadays the Metaverse focus on the game and art (NFT art collection) in the short term. But in the long term, the penetration path of the metaverse is expected to be the art side: NFT builds the economic base of the metaverse Non fungible token (NFT) has non-fungibility, uniqueness, indistinguishability, low compatibility, and item properties. And there is a single channel for product distribution, and there is high room for improvement in market transparency and price discovery.

Does the metaverse need a blockchain?

We all know that Blockchain is a traceable chain data structure that combines blocks of information that are continuously generated in a sequential manner in a chronological order and is a distributed ledger that guarantees data in a cryptographic manner in a tamper-evident and unforgeable way. Blockchain can be used for digital assets, content platform, gaming platform, sharing economy and social platform applications with its own characteristics. Based on its own technical characteristics, it is naturally adapted to the key application scenarios of the metaverse.

People believe that a well-developed, well-thought-out and mature technical system is needed to support the governance and incentives of the metaverse in the overall architecture. With blockchain technology, metaverse participants can be rewarded based on their contributions (time, money, content creation) in the metaverse, etc.

Does the metaverse need NFT?

NFT applications: a potential metaverse economic model. NFT has been pioneered for use in collections, artwork, and gaming scenes due to its own digital scarcity. Major believes that NFT will play a key role in the metaverse. Firstly, blockchain is an important technology to connect the metaverse concept; secondly, in the overall architecture of the metaverse, above the infrastructure, data and algorithm layer and below the application layer, a perfect, meticulous and mature technical system is needed to support the governance and incentive of the metaverse; and NFT can act as a medium for the incentive link of the Metaverse.