JAKARTA, Indonesia, Dec. 8, 2021 /PRNewswire/ — Mark Zuckerberg as Founder of Facebook announced that the Facebook company changed its name to Meta on Thursday (28/10). This name change cannot be separated from the social media giant’s focus on developing the metaverse world on its platform. Since then the term metaverse has been heard and discussed more often.
The metaverse many futurists envision is similar to that depicted in science fiction stories like “Ready Player One” or in some episodes of the Netflix series “Black Mirror.”
However, what is the metaverse and how can its existence change human life?
The term metaverse was coined in Neal Stephenson’s 1992 science fiction novel “Snow Crash,”.
Metaverse is a virtual world that brings the internet to feel real, it is defined as a shared virtual space created by the convergence of virtual enhanced physical reality, augmented reality and the internet. In this world, humans can feel that they move from place to place easily through their avatars and the items they buy.
The presence of the metaverse can be a step for change to improve the way of social interaction, where everything can be done virtually. From starting to work, playing, watching concerts, and so on.
The Importance of Metaverse
Metaverse will create new experiences and opportunities for people, it should be noted that metaverse is basically not described as an extension of the internet but a successor of the progress of the internet. Everything is being built using blockchain and decentralized applications.
Venture capitalist and essayist Matthew Ball wrote that the metaverse will be “the gateway to most digital experiences, a key component of all physical experiences, and the next great workforce platform.”
Crypto and Metaverse
There are various types of metaverses, one of which uses blockchain. With this technology the services that can be provided are unlicensed identity, financial services, and high-speed exchange.
“This is the next evolution of connectivity where things start to come together seamlessly, twin universes, so that you live in a virtual life as much as you live in a physical life,” said New Technology Analyst Victoria Petrock.
In the blockchain and crypto world, companies like Decentraland and The Sandbox have developed virtual worlds that integrate cryptocurrencies so that gamers can create structures such as virtual casinos and amusement parks, and monetize them.
According to Coinvestasi.com, the development of the Decentraland and The Sandbox games also pushed the price of the original tokens, namely Mana and Sand. In the past month, Mana managed to increase by more than 721% and Sand rose by more than 1,000%.
“Metaverse has the potential to become the future of space in the business world. One proof of this is The Sandbox Game which has attracted the attention of big companies such as Adidas and SoftBank. It proves that Metaverse is not just a temporary phenomenon but a business model that is worth investing in in the long term,” said Naufal, crypto analyst at Coinvestasi.com.
In addition to blockchain, NFT will play an important and fundamental role in the metaverse, with NFT there will be full ownership of used characters, accrued in-game items, and even virtual land.
Cryptocurrencies can be the only legal tender used in the metaverse, with all virtual objects and intangibles declared as NFT.
“I think people are really blown away by the amount of money players are spending in digital assets. Hundreds, thousands, and possibly millions of dollars are spent on digital assets. I think making the asset NFT, building the NFT economy, will add a new layer on top of the existing digital economy,” said Arthur Madrid, CEO and co-founder of The Sandbox.
In addition to Facebook, there are several large companies that will explore the metaverse, for example Google, Microsoft, Samsung and Sony have joined Facebook in the XR Association, a consortium of technology companies that aims to shape the future of “experiential reality.”
Metaverse in Indonesia
In Indonesia, Metaverse may still be a foreign term, so to introduce it, you can use simple and easy methods, one of which is through games. Currently, there are several games that carry the metaverse theme where the players have avatars, can carry out activities in the game, and earn income from the game. Some games that carry this concept are Axie Infinity, Sprinterland, Alien Worlds, and Decentraland.
One of the places to introduce the metaverse to the game is POG or Player On Guild which is currently still in the development stage.
“At POG we will introduce a fun way to earn money by playing games, one of which is the Axie Infinity game. This can also be a way to introduce the metaverse that is currently being discussed,” explained Andre the team from POG.
In addition to the game introducing the metaverse, it can also be done by knowing the components that support the virtual world, one of which is NFT or Non-Fungible Tokens which can become special possessions for metaverse users. This review of NFT will also be discussed further at the Coinfest 2022 event which will take place on December 11, 2021 via Youtube streaming. Complete information can be accessed at Coinfest.id.
For now, it seems that the metaverse in Indonesia is still far from reality, however in the future it is very possible for Indonesia to develop a capable metaverse technology, of course, accompanied by an adequate technological infrastructure.