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    Categories: MISC

METAVERSE

Since the past few months, people have shown so much interest in Metaverse, as Facebook has declared itself a Metaverse company. There is a lot of marketing hype absorbed up in this idea of Metaverse.

But what actually Metaverse is?

Metaverse is a network of 3D virtual worlds focused on social connections. Metaverse is not a specific type of technology, but rather a shift in the way of interaction with technology. In simple words, it is a copy of the real world, a virtual world of the universe in which we are living. An imaginary world where one can earn money, do a job, own land, become a celebrity or live a whole life, just like we do in the real world.

From this, it would appear that most of us are familiar with metaverse in a way and we interact with it when we spend a long time online. To a lot of users, Metaverse may sound like an ideal place to spend the time, especially when things like the pandemic have locked us down.

Metaverse is a broadway for bringing people together. This sounds unrealistic but this is very much real. Let’s take an example, Imagine in a lockdown you are stuck far away, how would you interact with your family, video calls? That is the closest today and it’s not so close enough. Metaverse will change that and actual conversation & movement shall take place.

Are we ready for the Metaverse environment?

It is presently estimated that it will take 5-10 years for the Metaverse to exist. But the aspects of Metaverse exists currently also like virtual reality headsets, Ultra-fast broadband speeds, etc.

The above is only a trailer it would be further stressed with the apprehensions on the taxability of cryptocurrency tokens/ wallet, which would be the major tender for most transactions in the virtual world.

Henceforth, Metaverse is in the evolution stage right now and it’s expected that Metaverse would play an important role in deciding the future of this advancing digital world.

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