Introduction to Metaverse

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Use of Blockchain in Metaverse

Blockchain in Metaverse primarily comes in to act as storage and a proof of ownership of assets on the virtual world.

The transactions happening on the metaverse are based on digital tokens such as Ethereum etc for the buying and selling of these Virtual assets.

Proof of Ownership is by issuing of NFTs making assets unique and also helping in identifying ownership and transfer of assets if required. Decentraland, sandbox are examples crypto-based metaverse platforms.

Things currently going on in the metaverse space.

Buying , selling and trading of properties.

Buying , selling and trading avatars , costumes .

Hosting virtual concerts

Hosting virtual hangouts, meetings with friends and many more.

References :
• https://www.youtube.com/watch?v=hHmXhxxx8Dw
• https://cointelegraph.com/metaverse-for-beginners/what-is-metaverse-in-blockchain-a-beginners-guide-on-an-internet-enabled-virtual-world
• https://www.martechalliance.com/stories/the-6-biggest-developments-in-the-metaverse-space

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August 25, 2022

Use of Blockchain in Metaverse

Things currently going on in the metaverse space.

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