The Metaverse is coming: here's why blockchain is the key

When we talk about the metaverse, we are referring to a persistent 3D virtual space where millions of people will be able to work, play, socialize, and do business without leaving their homes. Some call it “the internet of experience,” while others prefer “3D internet.” The concept is not new: it originates from the science fiction novel “Snow Crash” by Neal Stephenson from 1992, which imagined virtual worlds parallel to physical reality, mixing elements of augmented, virtual, and mixed reality.

From Imagination to Reality: Where We Are Today

If back then all of this seemed pure fantasy, today technologies are maturing rapidly. Big tech companies are already developing different versions of virtual worlds - some call it the metaverse, while others avoid the term - while current video games already represent the most advanced versions of these ecosystems. The metaverse we talked about thirty years ago does not yet exist in its complete form, but the pieces of the puzzle are getting closer to fitting together.

Blockchain: the foundation of the virtual economy

This is where blockchain comes into play. Although it is not strictly necessary for a metaverse to function, distributed technology is the perfect tool for building authentic digital economies. How? It allows the use of native cryptocurrencies, utility tokens, and NFTs - virtual collectible items that users can own and trade not only within a single virtual world but also across different metaverses.

Crypto wallets play a crucial role in this scenario: they ensure users have full control over their digital assets and ownership of virtual goods. Furthermore, blockchain provides transparent and immutable governance systems, essential for building trust in virtual environments where transactions have real value.

The future of Web3 in the metaverse

The link between the metaverse and Web3 is set to strengthen. The virtual spaces of tomorrow will not be controlled by a single company, but by decentralized communities where participants will have a say. Blockchain technology makes all of this possible, transforming the metaverse from a mere entertainment platform into a true economic ecosystem.