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- As per Sebastian Borget, Sandbox COO, the concept of Metaverse, where folks can take part in a virtual world, can take part in virtual parallel worlds.
- Folks are allowed to utilize cryptocurrency created by organizations which facilitates them to acquire virtual avatars as well as digital lands.
- Immersive universes as well as are not new since digital planets have already been created in games like GTA Online, Roblox, and Minecraft.
Metaverse: A Revolutionizing Concept
As per Chief Operations Officer and Founder of Sandbox, the concept of Metaverse, where folks are allowed to take part in many activities in virtual universes, is changing the perspective of how folks communicate, socialize, think, play, and generate income in future.
Immersive universes and digital avatars are not new as digital planets are already generated in games like GTA Online, Roblox and Minecraft.
Additionally, with the ability to transform fiat currencies into cryptocurrencies, it becomes easy for folks to jump from between the physical world and the metaverse.
Folks can utilize crypto assets made by organizations that facilitate these digital connections to do stuff like acquiring digital lands and avatars and even host personal events like the ones in the tangible world.
Organizations, as well as folks, are allowed to do transactions in Metaverse, receive payments in cryptos, and exchange those gains for tangible world items.
Borgets puts that metaverse is a gateway for fresh experiences and only “the sky’s the limit.” He explains that Metaverse, as well as Web3.0, allows us to explore our self-human imagination, generating a new parallel world where they can choose what they want to do.
Expansion of Metaverse might mean that the economy will be field, and might unlock the full potential of the international economy.
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The Sandbox, Metaverse Thriving On ETH Blockchain
Sandbox is a virtual world, and if we watch closely, it is a decentralized NFT metaverse, as it looks forward to transforming the way folks communicate with each other on the Web by enabling them to be involved in ways that we only thought can be done in science fiction.
As per Michigan State University, it is a vast, connected framework of digital worlds. And the fact that it is decentralized, means it is not controlled by any single entity or organization.
Whoever is taking part in The Sandbox, owns it, no matter how many there are, everyone is the owner in Sandbox.
As this article was being written, Sandbox was trading at a market value of $2.80, down by 0.22% in the previous 24 hours.
Why Web3 in Vital?
Web3, the evolution of the internet, is a crucial notion when we talk about the metaverse. In Web1, we could only see and grasp the information, in Web2, we can interact with that information as well as folks on the web, but in Web3, we can monetize our time we spend on the internet.
Associating this concept with metaverse, when these two are blended into each other, they will allow the folks to experience a whole new world, while letting them monetize their activities as well as time in the Metaverse. Similar to the concept of Stephen Spielberg’s Ready Player One.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
