Overview of the top metaverses on the market

Facebook’s recent decision to rename it Meta has caught the attention of billions of users. You are wondering what exactly is Metaverse that can make Facebook so “big” and is it just an addition to virtual or augmented reality? Will it be an outer universe that humans will enter? How can it be connected to the real world? These are the questions we need to ask ourselves before delving into the most popular metaverses that currently exist.

Misunderstanding about Metaverse

Before learning what Metaverse is, it is helpful to read up on any misconceptions about it. Often you hear people say that Metaverse is a form of virtual reality (VR). But that’s not true, because Metaverse isn’t really limited to the digital realm in which the VR world operates. In fact, it goes beyond that.

On the other hand, some compare Metaverse to the entertainment district devoted to digital space. Such a statement may be true to some extent, but not entirely, because it can certainly offer more experience.

Some even associate the concept of Metaverse with games like Fortnite. And that’s the point most people get right, because the idea of ​​Metaverse is in some ways similar to the idea of ​​entering a new game world like Fortnite. The many functions of this metaverse, such as B. a consistent identity across different closed platforms gives users the opportunity to get paid and to be the gateway to the multitude of features already offered by the game. However, since this is a “closed” world, it cannot provide an overview of the metaverse. Although conceptually, Fortnite is definitely a metaverse, it is still limited and operates within the boundaries set by its founders.

And here comes the real definition of the metaverse.

What is metaverse?

Metaverse is simply a large digital space where users can interact with each other in real time and have experiences that are similar to, or in most cases even more, the real world. This definition of the metaverse underlines an important point: It is an extension of the digital area and is intended to continue the field in the “real world”. The reason for quoting the real world is because conceptually it can be difficult to distinguish between a metaverse and a non-metaverse. To do this, it is necessary to take into account its core characteristics.

Metaverse is infinite: Metaverse is an extension of what we define as real. Since it is not limited by the physical dimensions of the world in which we operate, it can be said to extend to infinity. The metaverse has no end.

Metaverse is synchronous: An important point here is that it enables synchronous, limitless communication between users from all over the world. This gives billions of users real-time interactivity.

The Metaverse is a thriving economy: This point supplements the first key feature described above. Since it is an extension of the real world, users can choose to provide and receive real experiences. For example, artists can organize art performances, philosophers can organize discussions, colleagues can organize meetings, etc. Accordingly, it is necessary to implement a simple token mechanism for exchanging values.

Metaverse can interact: This function is still controversial. If we say the metaverse is simply an extension of the reality we live in, how can its interoperability be determined? And if interoperability is required, does that mean that many different metaverses exist in the same system?

Exactly. Interoperability in Metaverse means an easy transition from one concept of Metaverse to another that is implemented by a separate entity.

An important point to note here is that several different entities can set up their own metaverse. For example, Meta could create a social space for users or Microsoft could create a dedicated working metaverse. The basic idea remains the same, the implementation is different.

Here are some of the most popular metaverses out there today.

Decentralized country

Decentraland is one of the most famous metaverse that exists on the market today. The amount of money spent in this Decentraland Metaverse has steadily increased since its inception in 2016. Despite its young age, the platform has its own user community and even some of the bigger brands that have started to market / promote their products on the platform.

Overall, Decentraland is a virtual world and a blockchain-based community. What’s special about it is that it’s completely decentralized. This means that holders of the MANA cryptocurrency can take part in voting events on the platform. Decentraland also uses NFT to represent representation / ownership of in-game items such as clothing, virtual real estate, etc. These tokens are stored in the user’s wallet.

How does Decentraland work?

This metaverse uses a dual token economic model with two main tokens, LAND and MANA. MANA is the platform’s native token and offers holders voting rights to participate in the Decentraland DAO.

MANA: To vote on important administrative decisions, users lock wMANA (packaged MANA) to the DAO. Each wMANA represents a single voice on governance proposals. You can easily purchase this token on the Decentraland marketplace by selling digital collectibles.

COUNTRY: This is the NFT that represents virtual real estate ownership on the platform. This token also gives the holders voting rights.

Like most Metaverse, Decentraland users can create and / or sell virtual land use rights to buy / rent. Buying land from the Decentraland marketplace is pretty easy. Additionally, when navigating Metaverse, users will need a digital wallet (such as MetaMask) to participate.

What is special about Decentraland?

Decentraland is the first decentralized metaverse that enables users to interact with others in real time and have virtual experiences and trade them. The platform does not have a centralized entity, so users have full control over how they participate, what experiences they want to create and maintain their existing virtual land.

This entire metaverse is based on Ethereum, thus replacing the centralized entity with hundreds of different smart contracts that give users a wide variety of options for what they can do in the metaverse.

Decentraland consists of 3 main layers.

The first layer is responsible for capturing property through smart contracts.

The second layer stores the LAND content and all data has been uploaded to the virtual packets on Metaverse.

The third layer is a peer-to-peer network that enables interaction with other users in real time.

The underlying programming language that this metaverse uses helps create animated scenes and 3D models.

MANA can be traded on the cryptocurrency market. Tokens have limited availability and whenever a user buys LAND with MANA, a certain percentage of MANA is burned. This contributes to healthy price dynamics in the market.

Bloktopia

Bloktopia delivers an incredible and quite interesting story. It is a “VR Skyscraper” built on top of the polygon network and consists of 21 floors honoring 21 million bitcoins.

Bloktopia claims to provide a common space for crypto users of all skill levels. You all have access to crypto information and rich content in one place. The income generated on the platform is shared via NFT.

The platform uses “the most advanced real-time 3D rendering engine in the world” which provides users with a rich and immersive visual experience.

Bloktopia comprises available real estate and is traded with the BLOK token.

How does Bloktopia work?

Bloktopia has 21 floors that you have to pass to reach the “top”. These layers are explained as follows:

– Appearance: As soon as you enter this metaverse, you are “born” outside the Bloktopia skyscraper.

– Floor 1: All Bloktopia participants have access here and should have most passers-by. On this floor there are price tables, help desk, navigation area … Here you can also register for various events. In addition, part of the space will be commercialized for platforms such as Binance, CoinMarketCap and Coingecko to promote their products.

– Penthouse and Gaming Floors: This is the ultimate destination for all Bloktopia adventurers on the 21st floor of the skyscraper. There is a luxury apartment dedicated to gaming and a competitive space to earn BLOK by playing different games.

– Auditorium: The auditorium is the venue for most of the major events in the crypto world. When you register for the 1st floor event, you will be redirected to that floor to participate and receive the BLOK reward. The auditorium is seen as a premium position in this metaverse.

What is special about Bloktopia?

Breathtaking visual experience! In addition, this metaverse encourages learning and earning at the same time. Here are some of the core Bloktopia features that make it stand out.

Learning: Bloktopia provides a platform for users to learn the basics of cryptocurrency.

– Earn: Just like Decentraland, you can own land for automatic income. For example, rent to others.

– Creativity: You can use the building tools provided by the platform to create various works of art and experiences for other users. Seasoned developers can also use the SDK to create games in this Metaverse universe.

As with any other metaverse, users enjoy a full social experience by participating in a variety of activities. Imported experiences …