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News | 12.07.2021

What Is The Metaverse? What Are Zuckerberg And Facebook Planning?

What exactly is the Metaverse?

It’s okay that you don’t fully understand the metaverse and how it works. During his Facebook Connect keynote last week, Mark Zuckerberg didn’t make it entirely clear when saying the best way to understand the metaverse is to “experience it for yourself.”

A little broad, Zuckerberg, but there is some meaning behind that. The same way we couldn’t describe life to an extraterrestrial or non-earther, it’s difficult to describe a whole different world, especially one that still doesn’t exist like the metaverse. Hopefully, this article will give you a better understanding of what to expect.

What Is The Metaverse?

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During the keynote, Zuckerberg expanded on how it’s an “even more immersive and imbodied internet,” and how we will be able to do almost anything we can imagine like “get together with friends and family, work, learn, play, shop, and create.” We will basically explore the horizons of what we thought our phones and computers could never do.

Why Does Facebook (And Zuckerberg) Want The Metaverse?

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It’s become rather clear that Facebook is slowly becoming a platform for the older generations to connect, which wasn’t Facebook’s initial vision, but it’s been working for your relatives. We do still need Facebook in some ways; it’s one of the largest social media platforms that we’ve relied on for photos, messaging, updates, and so forth.

However, even though Facebook acquired Instagram a few years ago, it wasn’t enough for the social giant. Mark Zuckerberg has mentioned the term “metaverse” countless times, and it flew right over our heads. This is his way of modernizing the company and introducing new internet experiences that were expected to become the norm a few years down the line. So really, it’s the first of its kind.

Property And Commerce In The Metaverse

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In the metaverse, users will interact via customizable avatars that can move, speak, and perform animated actions, kind of like sims, but you’re the sim. Your friends will also be avatars, and you can interact with them and do almost anything noted above (shop, create, play, etc.).

This means you can also own and sell virtual property like you would with physical property. You will be able to see the “full” metaverse in 3D through VR or AR glasses. But, buying and selling property in the metaverse requires NFTS, non-fungible tokens bought with cryptocurrency.

Metaverse, Crypto, and NFTs

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People are trying to use their NFTs to track and establish ownership of their goods in the metaverse. This means the user will have full and independent ownership and control without the overlooking authority of a corporate server. Essentially, NFTs have been called the building blocks of the metaverse, so it’s about time you get cracking on crypto and NFTs.

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