Crypto Metaverse: Making Sense of Crypto’s Latest Development

At BCB Group, we provide banking, payments and trading services for any business in the world of crypto or the Metaverse.

What is a ‘Metaverse’ and Why Are We Talking About Them?

The idea of the metaverse was first conjured up by Neal Stephenson in his 1992 cyberpunk novel, Snow Crash, which introduced the concept of a “metaverse.” It is a shared digital place that people access via virtual reality goggles and fiber optic networks. The metaverse contains virtual versions of everyday, ordinary spaces, from parks and buildings, to places that are wildly whimsical, where rules and limits no longer apply, only ones that the person imagines.

Following Zuckerberg’s announcement describing the metaverse as the next chapter of the internet, interest in the concept has skyrocketed. With this metaverse, there are countless possibilities, allowing you to do just about anything you want, whether you’re working, playing, shopping, creating, or learning about new places. You have access to your whole physical world through the metaverse, but you also have access to the capabilities of your own mind, which is a combination that has a number of potentially ground-breaking possibilities.Your avatar in the metaverse will allow you to move, speak, and act freely as you inhabit your own space and interact with others. Virtual property will be much like actual real estate, so you’ll have complete autonomy to do whatever you want. As a metaverse user, you can create property, such as art or buildings, and then sell that property for non-fungible tokens (NFTs) or other value units.

Collectibles that are valued as in-game currency are called NFTs. A virtual economy is formed by these digital assets, where users engage in play-to-earn models by exchanging virtual goods or property for tokens. Metaverse crypto can also be exchanged for other collectibles or invested to earn interest. Some of the top gaming sites on the metaverse already offer their own tokens that can be exchanged for real value in cryptocurrency or fiat currency. With Facebook’s announcement, many NFTs and tokens have soared in value, and adopting metaverse crypto now can help you ride the wave of exchange-traded funds (ETFs) and metaverse success.

Virtual property (called LAND) can be purchased, leased, and managed on Decentraland. Your metaverse can be created and developed any way you want, and you can explore it using your phone, computer, or virtual reality headset. You’ll need Decentraland MANA to get started. MANA is the native cryptocurrency you can use to access interactive apps, make payments, or buy properties.

MANA is a well-established metaverse crypto and is widely accessible, so even a novice can take advantage of it. Additionally, users have access to exciting interactive opportunities in the Decentraland metaverse, including concerts and festivals, as well as entertainment venues that rival those found in the real world. A growing community and an active development team make Decentraland a great place to work and learn. Additionally, MANA spiked by over 400% and peaked at $ 4.16 as soon as Facebook announced it was renaming itself to meta, sparking renewed interest in virtual property tokens.

The Sandbox (SAND)

A virtual world called Sandbox allows you to sell and buy assets using the metaverse coin SAND. With the power of SAND cryptocurrency, you can monetize your virtual experience and create anything you can imagine.

One of the most influential tech investment companies today, SoftBank, is backing The Sandbox. Using The Sandbox, you can purchase, sell, and stake virtual assets. The Sandbox is a play-to-earn metaverse that gives you the freedom to customize your experience. The possibilities for creating a game, playing other games, owning virtual land, or collecting, creating, or taking control of a property are plentiful.

The Sandbox’s metaverse is based on Ethereum, which offers the highest level of security and safety. Unfortunately, you will also have to pay high gas prices from time to time, but this is the price that you need to pay to secure your assets and ensure that your experience is safe and secure using Ethereum’s blockchain. Nonetheless, its editor provides you with unparalleled tools for creating animation and models, letting you design virtual worlds of your own that are truly indescribable.

Star Atlas (ATLAS)

Star Atlas enables you to extend your horizons beyond the earthly. Here, you can explore a world of possibilities, and the stars are the limit. With your customized spaceship, you can delve into a unique metaverse, form a faction or create your own world. This unique world is powered by the ATLAS token. It is built on the Solana metaverse blockchain and promises exciting new horizons and possibilities. Metaverse blockchains like Solana are fast, safe and secure, but they are scalable and more affordable. In the Star Atlas universe, you can use ATLAS metaverse coins to purchase any digital asset you need, including land, ships, crew members and equipment. ATLAS can also be used to purchase POLIS, a currency needed to manage certain aspects of your gameplay. Specifically, POLIS is needed to manage your community and publish decrees to govern your new world.

Despite the unique concept of the Star Atlas metaverse and the convenient metaverse token, some may find the two tokens – ATLAS and POLIS – confusing or frustrating. However, the pros more than offset the cons, and Star Atlas is a vibrant, exciting world that offers a lot of virtual bang for your buck.

No matter what your thoughts are on crypto metaverses and their growing popularity, it looks like they’re something that’s here to stay as virtual worlds become more and more commonplace. If you’d like to learn more about the latest developments happening right now in the world of crypto, be sure to keep an eye on our BCB Insights page, where we cover the latest news around the clock. Alternatively, you can get in touch with a member of the BCB Group team today to discuss ways that cryptocurrency could help to boost your business and offer investment opportunities in the short and long term.