Metaverses: Why They Are the Future
In this article, we will explore what a metaverse is and how it may play a big part in our lives in the future.
Metaverse is a word thrown around so frequently at this point that it is quite hard to understand exactly what it is on the surface. Metaverses are an attempt to simulate the structure of real-life governance with the added benefit of incorporating elements of your personality traits into this ‘world’.
Take for example your social security number. Every person can be identified by this collection of digits, yet what can you tell about a person just from looking at their number. Similarly, an Ethereum address provides a huge amount of transparency in enabling people to track the movements of tokens on the Ethereum network. Yet, again, what would allow you to distinguish a person behind one address from another. These attempts to classify each person work brilliantly for the purpose they were created, but there is much more to a person than any hash or collection of digits. The answer? NFTs.
NFTs have taken the world by storm, but there is more to this seemingly speculative investing than meets the eye. An NFT allows you to identify certain personality traits about the person behind an Ethereum address. It allows you to express yourself through your interests and hobbies. Why is this important to a metaverse?
While it is still hard to tell how metaverses will evolve over time, it seems increasingly likely that NFTs will pave the way to providing a snapshot into the interests and traits each participant in the metaverse has. For example, if you hold the GCAC NFT, this advertises the fact you believe in medicinal cannabis. This may be a tiny portion of what makes you who you are, but over time, these NFTs could pave the way to transparently offer a method of classifying each and every user’s interests and enabling an extremely realistic simulation of the real world. Hypothetically, one could possibly obtain a discount on medicinal cannabis if they were to hold the GCAC NFT, or be assured a certain verified grade of cannabis, or obtain a VIP fast-pass to receive their order quicker. The possibilities of a metaverse are endless, and this is due to the role NFTs can play in encapsulating data in a completely transparent way for all to see.
Who knows what possibilities lie ahead for metaverses, but Abbey Technology wholly believe they will play a role in our lives. We are closely linked to a world-renowned brand surrounding the topic of metaverses and potential opportunities, so who knows…maybe the above examples won’t be as far-fetched as you might think!
