Far beyond being just a buzzword, the metaverse has become the newest macro-goal for many in the world of tech. Even if it doesn’t live up to the expectations of all the science fiction stories, the metaverse is bound to generate trillions of dollars in value as a new medium for content.
Acting as a gateway to the future, metaverse platform DecentWorld invites users to explore an array of digital experiences by acquiring, staking and trading real-world based NFT real estate assets.
Just within the first 1.5 months since the platform launch, the top 15 most expensive Streets on DecentWorld have already been purchased, the total value of the Street NFTs sold on the platform make up over $19 million, proving that metaverse is the next-generation industry to be a part of.
Immersive Real-time Metaverse Experience
The metaverse emerged from a network of platforms and technologies all working together to embrace interoperability. The metaverse is intended to be a synchronous, “real-time” experience that never “resets,” “pauses,” or “ends.” Users will be able to participate and meet in a range of events, places, and activities simultaneously by building a personal sense of “presence.”
"Today the Internet is structured with individual servers communicating to one another on-demand. However, the essence of metaverse will be to operate persistently around many-to-many connections, real-time, without a pause or a reset," DecentWorld team explains.
The Internet was never designed to facilitate such levels of concurrent activity, so in order to be viable, the metaverse requires an infrastructure that currently does not yet exist. The underlying systems behind the Internet are oriented around one server, which communicates to another server, or to an end-user device directly.
A solution is at hand however, the breakthrough technology of blockchain has opened the door to decentralization and community activation through inclusion. Without a doubt, web3 networks, cryptocurrencies, and NFTs are the technologies that will form the foundation of the metaverse.
"The idea of the metaverse and digital worlds has been present for a very long time, but blockchain technology finally makes it possible to accomplish. Many projects are putting things on blockchain just for the sake of putting things on blockchain. This is not the philosophy of DecentWorld. We truly believe that blockchain will be the underlying technology of the future, but we sought to use only where needed as technology is only a means to an end," DecentWorld team shares.
Apart from decentralized connections, the metaverse will be an experience that spans across all mediums, whether it is physical or digital, public or private, open or closed. Creators surprised the market by offering the best material and virtual worlds, pushing digitalization ever forward. Through DecentWorld, users can find a digitized version of any street in the world, buy it as an NFT, and thereby gain full, certified ownership of it.
Empowering a Fully Functional Metaverse Economy
The fundamental feature driving the metaverse will be a fully functioning economy which empowers individuals and businesses to create, own, sell, and be rewarded for a wide range of tasks that produce tangible value to other metaverse users. The DecentWorld team believes that this will create millions of jobs that don’t exist in the world right now, and will reinvent how resources are monetized.
As more consumers shift to virtual goods and services, it will continue to influence everyday life, such as infrastructure, and how tasks are performed in society. The metaverse will push virtual labor further than ever before, as workers who choose to live outside of cities will be able to participate in a “high value” economy.
"Digital economies emerged, driven by the idea of collecting digital assets to later resell them on various virtual markets. These economies are the future. That's how the metaverse functions - you participate, and you get rewarded. This new kind of economy will continue to emerge and will represent a point of no return in how we understand the world," the team shares.
The Importance of the NFT Technology
Currently, the Internet functions because of standards and protocols for communications, visual presentation, file loading, graphics, and data. However, The Metaverse will require more complex standards spanning a broader perspective to boost interoperability between platforms.
The current use of NFTs in the industry showed that non-fungible tokens could be the key to exchanging virtual goods, thereby earning and generating value. Through this way, NFTs could be the critical building block to catalyze the metaverse.