By the end of 2021, Facebook’s CEO announced that his parent company’s name had been changed to “Meta.” This major transformation triggered many researchers and economists that virtual reality will be the new future for socialization through social media apps, entertainment, and commercial purposes. So have you ever pondered upon the idea of what is so fascinating and surprising about Metaverse?
Metaverse will collaborate our virtual and physical spaces where people can interact with each other, and new horizons will be opened up to the digital world. The big tech giants like Facebook and other companies are working to transform the strategies that can engage them in the metaverse world. The combination of augmented reality (AR), virtual reality (VR), and the internet will spark major differences in every sector of life in the coming years.
As any digital platform has its pitfalls, risks, and predictions, metaverse has. Many billionaires associated with teaching giant companies have quoted that metaverse and NFTs hold the future. This means that everyone interested in excelling in start-up companies, entrepreneurship, and the crypto world should know what the future holds for the metaverse. So that they can make timely investments to maximize their profits and wealth.
In this article, we will shed light on three different possible scenarios of the metaverse that will make you better understand how NFT projects work and the future orientation of the digital world through the lens of the metaverse.
Making of Giant Flawless Metaverse through New Crypto Titans
One possible scenario for Metaverse is that it would be connected with a diverse range of NFT projects, tokens, blockchain technologies, and other digital platforms. Here the “bridge-making tokens” will play an essential role in creating a huge impact on metaverse. By “bridge-making,” we mean that each NFT project and smart chain will be interconnected with each other.
Here, Ethereum won’t be playing its essential role; another catalyst will be part of the whole game. The catalyst, or shall we say “bridge-making tokens,” will be the new crypto titans.
The bridge tokens are meant to smooth the transferring of tokens and other digital data to different networks with the help of blockchains effectively. The chains used while transferring the tokens can be of different models, rules, and regulations but bridge-making tokens make these chains compatible with each other.
Furthermore, bridge-making tokens provide users with great reliability as users can easily shift to stable coins from the volatile digital currency. This shift from stable coins to volatile cryptocurrency is possible due to the capability of bridge-making tokens to transfer data instantly and in a secured manner.
In the coming years, metaverse can divert to a new direction with the help of crypto titans, as they will function as bridge-making tokens. The new crypto titans are different from mainstream coins like Bitcoin or Ether as titans have their specialties.
Mark Cuban, who recently hit the billionaire club in the US, has also invested in titans due to its unique functionality other than mainstream digital coins. That’s why we are predicting this scenario in which new crypto titans will rule the metaverse universe.
Metaverse Functioning through Single Platform
The second possible scenario would be consolidated metaverse running through a single platform. As the world is heading towards more digital platforms, metaverse merges all these digital platforms with the real world with the help of virtual reality (VR). Many types of research have pointed out that in the future, the integration of NFT projects and metaverse will produce a huge impact on economic trends and models in the world.
ETH will be the most likely token on which integrated and flawless metaverse would run. The reason is that ETH makes the classification of smart contracts and decentralized applications in a very secure and private manner. Other tokens like BGH, HIVE and BSC can also take the place of ETH if things go well in the direction. The major requirement to have one integrated and flawless metaverse is ETH’s smart contracts.
Recent research also showed that the world would experience the rule of one metaverse due to its merging of digital and physical platforms. The other small tech companies and platforms would most likely collapse if they lacked the variance, the same degree to merge two parallel worlds, and general performance that metaverse includes. Other predictions show that people who have relied upon ETH or any of its kind from the beginning will experience some major benefits and profits.
On the other hand, if we talk about NFT marketplaces, a monopoly of ownership will be created for those who have trusted ETH initially. These predictions don’t need to come true by the passage of time, as these are merely possible conditions that can occur if things go in the right direction.
Variety and Diversity in Metaverses: A Disintegrated Picture
This possibility can be the most interesting as it will paint a clustered metaverse galaxy for us. If the recent developments and evolutions are in the same pace and direction, the world will see a fragmented galaxy of metaverses. The prediction is that we won’t have a huge universe of metaverse; instead, each token will emphasize its universe.
The reason behind this disintegrated galaxy of metaverses is that each chain of tokens has its following and supporters. Such as ETH has its organic following from the start, and Arsenal has its fan following. Each fan club will come forward with its own set of arguments, justifications, economic charts, trends, and articles that their prescribed tokens or chains are the most reliable ones. This debate will remain constant in upcoming years that will give birth to different metaverses according to particular tastes of people.
Furthermore, with the inception of NFT projects and marketplaces, the competition and innovation in the digital world will become more likely to be increased. There is a rich diversity in NFT projects and tokens that include sports, entertainment, and socialization; people will generate their preferences according to their likes and dislikes. Some research scholars and economists have also pointed out that a console war will take place in the digital world with the constant increase in the popularity of metaverses.