This is the analysis of three booming metaverses.
While changing the name from Facebook to Meta is a forceful move by the blue social network we all know, the concept of the metaverse goes back further in history. Neal Stephenson in the 1992 sci-fi novel “Snow Crash” introduced this concept.
In addition, in that dystopian work, a technology tycoon sought to take control of the world through an application and the metaverse through which he injected a computer virus into people. Let us hope it is not Zuckerberg’s plans to make history come true…
What is the Metaverse?
“The metaverse is the place where the physical world and the digital world converge,” Statista notes. “It allows digital representations of people, avatars, to interact with each other in various scenarios.”
The concept was already flying through the air in the 90s but it took years for the idea to take root. However, it would take a couple of decades for it to materialize in the collective, and excellent companies, such as the current Meta, set out to make it a reality.
We can think of the metaverse as “The Matrix” or “Ready Player One”, an immersive multimedia experience in which we can be the character we want and embark on countless adventures to disconnect from life by connecting – ironically – to a digital world.
Users who have used Habbo or Second Life know what this means. If a 2D experience like that could immerse you for hours in a world of bits, imagine what would happen in a 3D world.
What are some Promising Metaverses?
Decentraland is the reference metaverse in the decentralized market sector. This metaverse began operations in 2015 with a view to recreating real-world land management. In other words, it is a huge universe subject to the laws of the market and the logic of capitalism.
Meilich y Esteban Ordano, the Argentine creators of Decentraland, rely on the Ethereum blockchain to establish decentralized trading mechanisms in which the MANA token acts as an exchange currency. If you want to participate, just transfer your ETH to that currency and start speculating.
The Sandbox is the metaverse of Arthur Madrid and Sébastien Borget with at least a decade of history, but it was not until 2021 that it became a full-fledged metaverse with the release of the SAND token and the DAO.
The Sandbox is quite similar to Decentraland; users can buy land, enjoy interactive experiences, and trade all kinds of goods. It also works with a grid to make sure the plots are identical and uses an auction system.
Somnium Space, possibly The SIMS with a graphical update and NFT as with speculation. What stands out in this metaverse is the graphic design and animations applied to DeFi.
Somniumm Space is different from the competition because it is directly connected to Amazon’s NFT marketplace OpenSea, and because it has the Unity Android SDK on the way. His token is the Somnium Space CUBE, a perfect bet for VR fans.
In short, among the main metaverses, there is a lot of room for growth for the rest of the year and the same happens with the ecosystem tokens. Additionally, the community is very enthusiastic about these developments due to the sheer amount of options, gameplay, and potential for the Metaverse in the coming years.
By Audy Castaneda
