Written by : Ilana Aninditya
Reading dystopian science fiction is a typical fascination. One’s imagination about the future is intriguing for us. Yet, the most interesting thing is that what was once fiction could turn into a reality.
A novel by Ernest Cline titled “Ready Player One” depicts the world in 2045 in which it is being gripped by global warming and an energy crisis. This results in social problems and economic stagnation.
The only escape — in the novel — is a metaverse called the OASIS, which can be accessed with a VR headset and wired gloves. Metaverses function as a virtual society where people are able to play multiplayer online role-playing games massively.
Originally, the term metaverse was coined in a 1992 science fiction novel titled “Snow Crash” by Neal Stephenson. Stephenson described it as a virtual reality-based successor to the internet. Snow Crash depicts a metaverse in which humans interact with each other as avatars in a three-dimensional virtual space that uses the metaphor of the real world.
Who could have thought that more than 30 years later, the metaverse is getting real! In October 2021, Facebook announced that they changed the company name to Meta. The social media giant decided to focus on Meta to be their new company brand, which will bring the metaverse to life and help people connect, find communities and grow businesses.
Metaverse as a concept makes sense for Facebook, since Facebook is already representing users online by means of a makeshift social media society. By turning into Meta, the company will expand the online social experiences into three dimensions or projected into the physical world.
What’s Next with the Arrival of the Metaverse?
Providing an alternative digital universe, the metaverse is able to renew the way we live, work, and play. It is a convergence of both our physical and digital lives. We are practically embracing a new phase of the Internet that involves augmented reality (AR), extended reality (XR), and virtual reality (VR) in our physical world.
Interestingly, metaverse platforms will be most likely powered by blockchain technology where people are able to own, build, and trade digital assets using digital currencies and non-fungible tokens (NFTs).
An example of a metaverse token is Decentraland, a blockchain-based virtual reality platform where users get to buy, sell, and develop land. As the virtual universe, players are able to create content and interact with each other as well.
However, please note that the bet on who will succeed in creating a metaverse is still broad. It is always important to do your own research before investing in any digital currency asset that claims that they will be part of the metaverse.
We agree that metaverse tokens are set to continously be a big thing in the digital asset sphere.
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WadzPay is an interoperable blockchain-based payments ecosystem. The company was founded in 2018 in Singapore and currently operates in South East Asia, South Asia, the Middle East, and Africa.
WadzPay saw the potential for CBDC and Digital Assets to lead the next revolution in the payments industry: enabling faster payments, improvements in security, and cost-efficiency with optionality.
WadzPay is working with large international payment companies, banks, and global companies to enable digital asset-based transaction processing and settlement.
