Since Facebook’s rebranding to Meta in late October, the Metaverse term has been thrust into the mainstream spotlight.
But crypto projects such as Enjin, Decentraland, and The Sandbox, to name a few, have been working on the Metaverse concept for many years now. However, their efforts have failed to garner the same recognition as Meta to date.
Top Definitions of Metaverse
- The future of the internet: A massively-scaled, persistent, interactive, and interoperable real-time platform comprised of interconnected virtual worlds where people can socialize, work, transact, play, and create.
The metaverse, in a nutshell, is the digital world, where anything we can imagine can exist. Eventually, we’ll be connected to the metaverse all the time, extending our senses of sight, sound, and touch. The Earliest version of the internet was Web1 where during a visit to a website we mostly view static web pages. Web2 was more of social interaction within closed ecosystems and Web3 will be about digital ownership within an open, decentralized environment
The Metaverse is the distant evolution of Web3. In its most complete form, it will be a series of decentralized, interconnected virtual worlds with a fully functioning economy where people can do just about anything they can do in the physical world.
Like the internet today, the Metaverse will rely on hardware and infrastructure, tools and standards, and regulatory frameworks — most of which haven’t been fully developed yet