What is the metaverse and why is it important?

In recent years, the term "metaverse" has become increasingly prominent in conversations about the future of the Internet and technology. But what exactly is the metaverse and why is it generating so much excitement?

What is the metaverse?
Recent studies show that the metaverse is described as the next chapter in the evolution of the Internet. The rise of the metaverse and Web 3.0 technologies heralds a new era of digital interaction, commerce, and education.

Searching online for a definition of the "metaverse" leads to a convoluted and unclear exploration, filled with ambiguous terminology. This confusion is representative of the current state of the metaverse, as many authorities are attempting to define a concept that has not yet fully materialized or been realized.

To understand the concept of the metaverse, we have to first understand several basic concepts that make it up.

• Blockchain. We know that this term is complex and usually the first thing we think of is Bitcoin or cryptocurrencies. However, the blockchain is a means of storing data in an unalterable digital record. This allows each purchase, sale or transfer transaction carried out in a digital environment to be tracked, something very useful to validate the ownership of digital assets. Currently there are different blockchains such as Bitcoin, Ethereum, EOS, WAX and many more. They are made up of computers of multiple participating users connected in a network.
• dApp. Also known as "decentralized applications", which work like any known application, whether it is a video game or a program used in companies. The key is the decentralized network behind the user experience that uses the data block to store the data and transactions. It can be a platform or a single-functional application. A platform allows other dApps to function within its ecosystem, while single-function dApps do not interact with other dApps.
• Virtual reality. They are computer-generated 3D spaces in which users can interact with the environment and have an immersive experience. Although the ideal use is through virtual reality googles, these spaces can currently be entered using a conventional computer or mobile devices.

So, taking these three concepts into account, we can say that a metaverse is a decentralized platform (dApp) built on a blockchain that allows keeping records of the transactions carried out on that platform, with which users interact in 3D spaces through of virtual reality.
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Why it is important?

1. More natural interaction: The metaverse allows for more intuitive and realistic interactions between users, taking advantage of technologies such as virtual and augmented reality. This can improve the way we communicate, collaborate and entertain ourselves.
2. New economic opportunities: The metaverse opens the door to new ways to generate income and create economic value, through the buying and selling of digital assets, advertising, e-commerce and more. The registry of the blockchain allows us to track these commercial transactions and determine who is the owner or holder of these digital assets.
3. Business transformation: Companies from various sectors are exploring how to integrate the metaverse into their strategies, mainly to offer new ways to improve the customer experience when interacting with the brand, products and/or services.
4. New forms of entertainment and socialization: The metaverse offers exciting possibilities for entertainment, education and socialization, enabling more immersive and personalized experiences.

One or multiple metaverses?
It is commonly thought that the metaverse is a single place where all content, activities and interactions will be concentrated. But several companies have embarked on developing their own version of the metaverse, that is, their own dApps. Among the different options are the following:

• Upland: This EOS blockchain metaverse replicates the real world virtually, allowing users to buy, sell and develop properties in virtual copies of cities such as Miami, Buenos Aires and Tokyo, among others. Based on an internal currency called UPX, it offers digital ownership experience with transactions and asset exchange. It stands out for its focus on real economy and connection with the physical world. Buildings can be built on the plots to serve as digital asset stores or define your virtual address in the metaverse. Currently it allows you to create digital assets such as items to decorate properties, you can also create vehicles and other collectibles.

• Decentraland: A blockchain metaverse built on top of Ethereum. It is one of the oldest metaverses, created in 2015 as an online multiplayer role-playing game. In this metaverse, you can perform actions related to the purchase of plots on which you can build and later sell. These plots belong to a virtual world only and have no relationship with the real world. You can also buy and sell assets such as avatars, virtual goods and services, and usernames.
• The Sandbox: Another platform built on the Ethereum data block. It is a metaverse where you can create, market and monetize virtual experiences such as art galleries or exhibitions. Focused on creativity and community empowerment, with an economy based on the SAND token. It is usually related to the game Minecraft, as they are very similar visually.
• Roblox: This platform allows you to build worlds of different sizes and materials. The proposal sought by the development company is to create a human co-experience, where users can share immersive experiences without borders. Currently it is widely used by people between 13 and 15 years old, since it has spaces created by the users themselves in the form of video games. It is a space where users can participate in different sports activities through mini-games and get rewards.
• Horizon Worlds: Lastly, we have the version created by Meta (Facebook), which was launched as the first virtual reality metaverse. This option is currently considered a half-hearted metaverse, since it does not have blockchain technology. It is one of the least used metaverses, since surveys show that the majority of users do not return after the first month of use as they do not find virtual worlds that they really like or in which there are people to interact with. On this platform, users can create and monetize virtual spaces, but, as it is aimed more at users without experience creating these spaces, it has not had the expected popularity.

A universe in the palm of your hand
Trying to envision all the components that make up the internet can be a complex and bewildering task. Its similar when considering the metaverse. One way to conceptualize the metaverse is by comparing it to our solar system. In this analogy, the central "sun" would be the blockchain technology, such as Ethereum or EOS, around which the decentralized applications (dApps) orbit. These dApps serve as the access points for people to interact with and experience the metaverse, being each dApp an unique world with its own users and experiences. 

Interoperability is the ability to exchange data, currencies and assets between different blockchains. This is the key to the creation of the Metaverse, since applications have the potential to communicate and exchange information with each other, which is the basis of the metaverse at a general level. Multiple decentralized applications operating with each other.

As the metaverse continues to evolve, users will have the ability to transport their virtual assets and digital identities across various metaverse platforms. The boundaries between these different metaverse environments will gradually become less distinct, until they coalesce into a unified, seamless experience.