Metaverse and cryptocurrency - the next evolution of the internet
Recently you may have heard or read about "Meta" in the context of Facebook and its move to evolve social connection through a platform that will attempt to bring the metaverse to life. The Metaverse has however been developing at a rapid rate within the cryptocurrency space for a while now, so in this article I will look at the Metaverse and cryptocurrency and explain why this is the next evolution of the int
So what does Metaverse really mean?
According to Wikipedia 'Meta' has the following definition:
Meta (from the Greek μετά, meta, meaning "after" or "beyond") is a prefix meaning "more comprehensive" or "transcending.
So essentially it means that it's 'seeing the thing from a higher perspective' instead of 'from within the thing', like being self-aware.
In the crypto space metaverse (a blend of "meta" and "universe") is a sector that has been exploding this year with a number of projects developing futuristic, three dimensional, virtual reality environments that contain shared spaces and environments in which users can interact with each other as well as data.
Current metaverse ambitions are concentrated on addressing technological limitations with modern virtual and augmented reality devices, as well as expanding the use of metaverse spaces to business, education, and retail applications. Numerous entertainment and social media companies have invested in metaverse-related research and development.
In certain quarters the metaverse has been criticised for being a method of public relations building using a purely speculative, "over-hyped" concept based on existing technology. Information privacy and user addiction are also concerns for those who participate in the metaverse, stemming from current challenges facing the social media and video game industries in general.