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For the past few months, people have shown so much interest in the Metaverse, because Facebook has declared itself a Metaverse company. This idea of the metaverse involves a lot of marketing hype.
But what exactly is the metaverse?
The Metaverse is a network of 3D virtual worlds focused on social connections. The metaverse is not a specific type of technology, but rather a change in the way technology interacts. In simple words, it is a copy of the real world, a virtual world of the universe in which we are living. A fictional world where one can earn money, get a job, own land, become a celebrity or live a full life, just like we do in the real world.
This makes it seem like most of us are in a way familiar with the metaverse and interact with it when we spend a long time online. For a lot of users, the Metaverse can seem like the perfect place to spend time, especially when things like the pandemic have shut us down.
The metaverse is a broad way of bringing people together. It sounds unreal but it is very real. let’s take an exampleImagine you are stuck far away in a lockdown, how will you interact with your family, video call? He is the closest today and it is not that close. The metaverse would replace that and there would be real conversation and movement.
Are we ready for the metaverse environment?
It is currently estimated that it will take 5–10 years for the Metaverse to exist. But aspects of the metaverse still exist today such as virtual reality headsets, ultra-fast broadband speeds, etc.
The above is only a trailer, it will be further emphasized with apprehensions over the taxability of cryptocurrency tokens/wallets, which will be the prime tender for most transactions in the virtual world.
Henceforth, the Metaverse is still in the development stage and it is expected that the Metaverse will play an important role in deciding the future of this moving digital world.
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