{"id":37525,"date":"2022-05-12T20:24:21","date_gmt":"2022-05-12T17:24:21","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=37525"},"modified":"2025-08-29T18:04:05","modified_gmt":"2025-08-29T15:04:05","slug":"what-is-the-metaverse","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/what-is-the-metaverse\/","title":{"rendered":"What is the metaverse?"},"content":{"rendered":"<div class=\"wp-block-text-wrappers-cards single_card\">\n<h2 class=\"card_label\">Key points<\/h2>\n<ul class=\"wp-block-list\">\n<li>The metaverse is the next generation of digital platforms. It comprises a full stack of technologies, including virtual and augmented reality, blockchain and artificial intelligence.<\/li>\n<li>It is a virtual \u201csandbox\u201d created by users themselves, who choose what to do. With cryptocurrencies and NFTs, virtually any activity can be monetised.<\/li>\n<li>Meta, formerly Facebook, is building its own metaverse, Horizon Worlds. Mark Zuckerberg described the metaverse as \u201can internet you are in, not just looking at it\u201d.<\/li>\n<li>Other major digital-world projects include Otherside, Decentraland, The Sandbox and Axie Infinity. Each has its own features: in one you can buy land; in another you can breed unusual creatures.<\/li>\n<\/ul>\n<\/div>\n<div class=\"wp-block-text-wrappers-cards single_card\">\n<h2 class=\"card_label\">What does the term <strong>\u201cmetaverse\u201d<\/strong> mean?<\/h2>\n<p>The word \u201cmetaverse\u201d translates the English \u201cmetaverse\u201d. It consists of two parts: \u201cmeta\u201d \u2014 a Greek word meaning \u201cbeyond\u201d, and the English \u201cuniverse\u201d.<\/p>\n<p>Though complex and multi-faceted, it usually refers to several core components: a three-dimensional digital space using technologies such as virtual reality (VR) or augmented reality (AR), blockchain and NFTs, as well as artificial intelligence.<\/p>\n<p>In the popular imagination, metaverses are the next generation of internet platforms: self-sufficient worlds where users can work, relax, study and do much else. Each such world may have its own functions and features.<\/p>\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"\u0427\u0435\u0433\u043e \u0436\u0434\u0430\u0442\u044c \u043e\u0442 \u041c\u0435\u0442\u0430\u0432\u0441\u0435\u043b\u0435\u043d\u043d\u043e\u0439? | Fork The System \u0441 \u041f\u043e\u043d\u0438\u043c\u0430\u044e\u0449\u0438\u043c\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/dlUpdQroI58?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div>\n<\/figure>\n<\/div>\n<div class=\"wp-block-text-wrappers-cards single_card\">\n<h2 class=\"card_label\">What are the main attributes of a metaverse?<\/h2>\n<p>The main characteristics of a modern digital world can be found in an essay by Amazon Studios executive Matthew Ball titled \u201cThe Metaverse: What It Is, Where to Find it, and Who Will Build It\u201d.<\/p>\n<p>In it, Ball <a href=\"https:\/\/www.matthewball.vc\/all\/themetaverse\" target=\"_blank\" rel=\"noreferrer noopener\">listed<\/a> the principles on which metaverses are likely to be built in the near future:<\/p>\n<p><strong>1. Persistence<\/strong>. A metaverse cannot be paused or reset. It exists in real time, regardless of external factors.<\/p>\n<p><strong>2. Synchronicity<\/strong>. The metaverse exists synchronously. It is a lived experience that spans both the real world and virtual space.<\/p>\n<p><strong>3. Accessibility<\/strong>. Virtual reality should impose no arbitrary limits on its participants. Everyone can be part of what is happening.<\/p>\n<p><strong>4. Interoperability<\/strong>. There should be direct exchange of data, digital assets and items between different virtual worlds. For example, a weapon skin in Counter-Strike could decorate a weapon in Fortnite or be gifted to a friend on Facebook.<\/p>\n<p><strong>5. A self-contained economy<\/strong>. Participants in metaverses can create, own, invest, sell and earn rewards for a wide range of virtual services that others value.<\/p>\n<\/div>\n<div class=\"wp-block-text-wrappers-cards single_card\">\n<h2 class=\"card_label\">Is the metaverse just a game?<\/h2>\n<p>The short answer: no. Games are primarily for entertainment, and users, with rare exceptions, tend to spend money on them rather than earn it.<\/p>\n<p>The aim of the metaverse is to create new ways for people to interact and to transpose real life into digital form. That spans social, cultural, economic and civic spheres.<\/p>\n<p>There is no single narrative or set of mechanics imposed by a developer. It is more a sandbox in which the space is created by users. They choose what to do. That can include games, but also socialising, creating digital goods and art, building, travelling and more.<\/p>\n<\/div>\n<div class=\"wp-block-text-wrappers-cards single_card\">\n<h2 class=\"card_label\">What do NFTs and cryptocurrencies have to do with metaverses?<\/h2>\n<p>The metaverse concept assumes users will have unlimited opportunities to monetise their virtual lives.<\/p>\n<p>The core building block of the virtual economy is the non-fungible token (NFT). It functions as proof of ownership for any digital items and property created by users.<\/p>\n<p>Developers cannot seize an NFT or delete it from a user\u2019s profile, as it resides on a blockchain. Nor are tokens confined to a single app, allowing valuable property to move between different metaverses.<\/p>\n<p>User \u201cavatars\u201d can also be tied to NFTs rather than to an app profile, making them impossible to steal, copy or delete.<\/p>\n<p>Cryptocurrencies serve as the internal \u201ccurrency\u201d of metaverses and likewise possess all the attributes of \u201cdigital property\u201d.<\/p>\n<\/div>\n<div class=\"wp-block-text-wrappers-cards single_card\">\n<h2 class=\"card_label\">Is Mark Zuckerberg building a metaverse too?<\/h2>\n<p>In 2021 the tech giant Facebook rebranded as Meta. Founder Mark Zuckerberg said the metaverse, not social networks, was now the corporation\u2019s main project.<\/p>\n<p>Meta\u2019s digital world is called Horizon Worlds. It runs via VR and AR headsets and will in time be available on various devices, including PCs, games consoles and even phones.\u00a0<\/p>\n<p>Zuckerberg himself described the metaverse as \u201can internet you are in, not just looking at it\u201d.<\/p>\n<\/div>\n<div class=\"wp-block-text-wrappers-cards single_card\">\n<h2 class=\"card_label\">How does Horizon Worlds work?<\/h2>\n<p>In December 2021 Meta opened beta access to its digital world for residents of the United States and Canada.<\/p>\n<p>The platform allows users to interact with each other, move through virtual space, take part in events, and create objects and even worlds. The latter are bounded spaces with various functions \u2014 for example, a yoga room, a work office, a cafe or a scenic natural spot for meditation.<\/p>\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\">\n<div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"The Metaverse and How We'll Build It Together -- Connect 2021\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/Uvufun6xer8?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><figcaption>A presentation of Meta\u2019s metaverse capabilities. Source: Meta\u2019s YouTube channel.<\/figcaption><\/figure>\n<p>The app includes VR building components, including code blocks, sounds and animation effects. You can join Horizon Worlds using an Oculus Quest headset and a Facebook account.<\/p>\n<p>It is integrated with other function-specific metaverse products: Horizon Workrooms \u2014 a co-working platform \u2014 and Horizon Venues, a venue for online events and concerts.\u00a0<\/p>\n<p>As Meta said in mid-February 2022, more than 10,000 virtual worlds had been built in Horizon Worlds, and monthly active users had reached 300,000.<\/p>\n<p>Any user will be able to monetise their activity in Horizon Worlds using NFTs. Meta plans to earn commissions on token sales. The company, however, was criticised for fees that were too high.\u00a0\u00a0\u00a0<\/p>\n<p>Meta is also considering issuing its own token as an analogue of \u201cmoney\u201d in the metaverse.<\/p>\n<\/div>\n<div class=\"wp-block-text-wrappers-cards single_card\">\n<h2 class=\"card_label\">What other metaverses are there?<\/h2>\n<p>Today the crypto market hosts several projects aimed at building metaverses:<\/p>\n<p>1. <a href=\"https:\/\/otherside.xyz\" target=\"_blank\" rel=\"noreferrer noopener\">Otherside<\/a>. A digital world with gamified elements developed by Yuga Labs, the creator of the famed NFT collections Bored Ape Yacht Club and Mutant Ape Yacht Club. The metaverse launched in spring 2022; its native token is ApeCoin (APE).\u00a0\u00a0<\/p>\n<p>2. <a href=\"https:\/\/www.sandbox.game\" target=\"_blank\" rel=\"noreferrer noopener\">The Sandbox<\/a>. A virtual sandbox-style space. In this metaverse users own plots of \u201cland\u201d, implemented as NFTs, and can build any digital objects on them. The project\u2019s native token is SAND.<\/p>\n<p>3. <a href=\"https:\/\/axieinfinity.com\" target=\"_blank\" rel=\"noreferrer noopener\">Axie Infinity<\/a>. A popular blockchain game with Pok\u00e9mon-like mechanics: users \u201craise\u201d and upgrade their own creatures and stage battles. Players can also earn passive income by \u201crenting out\u201d their creatures. The developers of Axie Infinity are working on a \u201cvirtual land\u201d project: owners will be able to buy plots and build on them, gather resources, team up and fight for territory. The project\u2019s native coin is AXS.<\/p>\n<p>4. <a href=\"https:\/\/decentraland.org\" target=\"_blank\" rel=\"noreferrer noopener\">Decentraland<\/a>. One of the oldest metaverse projects, where users can also acquire digital land and build on it, as well as create items. Land plots are implemented as NFTs. Built objects are interactive and can be monetised. Decentraland has its own cryptocurrency, MANA.<\/p>\n<\/div>\n<div class=\"wp-block-text-wrappers-cards single_card\">\n<h2 class=\"card_label\">How are metaverses developing?<\/h2>\n<p>First, money is pouring into digital worlds. Digital \u201creal estate\u201d is especially lively: large banks are already investing in virtual plots in The Sandbox, and Will Smith and The Weeknd have bought land in the Everyrealm metaverse. Anyone can buy land on internal marketplaces. Projects\u2019 native cryptocurrencies trade actively and hold leading positions in the crypto market.<\/p>\n<p>Big companies are taking part more actively. In spring 2022 Decentraland hosted a fashion week featuring many well-known brands, including Dolce &#038; Gabbana and Tommy Hilfiger. Estee Lauder advertised new products there.<\/p>\n<p>Payments firm Mastercard has filed applications for 15 trademarks related to metaverses and cryptocurrencies. McDonald\u2019s is <a href=\"https:\/\/www.businessinsider.com\/mcdonalds-metaverse-virtual-online-restaurant-trademark-delivers-food-web3-nft-2022-2?r=US&#038;IR=T\" target=\"_blank\" rel=\"noreferrer noopener\">registering<\/a> a patent under which the chain plans to open restaurants in metaverses and sell food as NFTs.<\/p>\n<p>Corporations are ploughing large sums into building metaverses. Notably, major game developer Epic Games raised $2 billion to create family-friendly virtual entertainment worlds, in partnership with Sony and LEGO.\u00a0<\/p>\n<p>In South Korea the metaverse has been made a national project, with $186 million earmarked from the state budget.<\/p>\n<p>Various organisations are opening offices in virtual worlds: for example, JPMorgan and Dubai\u2019s crypto regulator.<\/p>\n<p>By Citibank\u2019s estimate, by 2030 the metaverse market could reach $13 trillion, with 5 billion users.<\/p>\n<\/div>\n<div class=\"wp-block-text-wrappers-cards single_card\">\n<h2 class=\"card_label\">Further reading<\/h2>\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/what-is-the-sandbox-sand\">The Sandbox: what is it?<\/a><\/p>\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/artificial-intelligence-what-it-is-and-how-it-works\">What is artificial intelligence?<\/a><\/p>\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/what-is-axie-infinity-axs\">What is Axie Infinity?<\/a><\/p>\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/what-is-decentraland-mana\">What is Decentraland?<\/a><\/p>\n<p>What are ERC-20 tokens?<\/p>\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/what-is-cosmos-atom\">What is Cosmos?<\/a><\/p>\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/what-is-metamask\">What is MetaMask?<\/a><\/p>\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/what-is-self-sovereign-identity-ssi\">What is self-sovereign identity?<\/a><\/p>\n<p>What is STEPN?<\/p>\n<p><a href=\"https:\/\/u1f987.com\/en\/news\/what-are-cryptopunks\">What are CryptoPunks?<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Where does the word \u201cmetaverse\u201d come from? What does the term actually mean? Why do metaverses need NFTs? Our new Forklog cards explain.<\/p>\n","protected":false},"author":1,"featured_media":37526,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"1","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[2113],"tags":[2129,1353,1213,1361,1366],"class_list":["post-37525","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptorium","tag-101-nfts-and-the-metaverse","tag-metaverses","tag-nft","tag-virtual-world-innovations","tag-vr-ar"],"aioseo_notices":[],"amp_enabled":true,"views":"40","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/37525","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=37525"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/37525\/revisions"}],"predecessor-version":[{"id":37527,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/37525\/revisions\/37527"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/37526"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=37525"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=37525"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=37525"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}