Written by Morten Rongaard

Recognised as a pioneer in the fields of Augmented Reality, Blockchain, NFTs and cryptocurrencies. Loves : Nutella, pancakes, Amiga, Cars, red wine, diversity, nerds, Vikings, history & food

November 23, 2021

What is the Metaverse & Why is Everyone Talking About It?

“Metaverse” has become a common word today. It’s all over the news, on social media, and many people casually talk about it worldwide. Some of us are running towards it; others are treating it with caution, almost like we are on the verge of losing control of the world as we know it, where our lives will be subject to virtual galaxies of pixels and “fake” interactions. However you look at it, Metaverse is a powerful word, but what will it mean for the future? Let’s dig deeper. 

In fact, the concept of the “Metaverse” is not new. If we really think about it, there have already been several attempts in the public domain for quite a while that have tried to create a secondary world like entity that allows us to engage and interact within.

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For example, the game “Second Life“, which was released in 2003, does exactly that by allowing users to design avatar-like characters and transform themselves to have a second online life. This game far outdates the developments of today, which are typically associated with the word Metaverse, including Facebook, blockchain, DeFi, NFT’s and AR and VR technologies. Still, it is nonetheless a very relevant example that demonstrates that this concept is not a new one. 

Today, the word Metaverse has several powerful connotations. Most notably would be the rebranding of social media giant Facebook which recently changed its name to “Meta“. This was done with the aim for Facebook to now concentrate more on being an organization and tech think tank that is exclusively trying to push forward the idea of a new world that we can virtually exist within by leveraging technologies such as VR to create a digital experience of interactions that were not possible before.

In essence, a Metaverse it has full control over. Facebook has openly stated that it wants to provide a way for as many users as possible to eventually build a business in the Metaverse and also teased the idea of including NFT assets as well.

In the blockchain, crypto and gaming worlds, the Metaverse concept is taking a different and more independent direction, away from the control of a huge centralised organisation like Facebook. Many blockchain and crypto enthusiasts agree that gamification will drive the adoption of these technologies worldwide.

Today, games such as Decentraland, Star Atlas, Axie Infinity and Pocket Arena, to name a few, are all blockchain-based solutions attempting to streamline the Metaverse by utilizing the full power of DeFi and NFT technologies that not only allow users to participate in new virtual worlds but also create wealth by playing to earn. Their success could lead us to a new technological culture separate from the Facebook status quo that allows us to experience a virtual world filled with benefits and opportunities in a more pure “Metaverse” away from the control of such a giant organization.

However you choose to look at it, the Metaverse concept is not new. Still, like Facebook changing its name to Meta, it has almost been updated and rebranded to suit today’s narrative and incorporate the technologies of the time. From what it looks like, the Metaverse will exist in a number of ways, and it will be up to us as consumers to choose whether we want to be a part of it and in what way.

However, there is no running away from the impact that technology will have and the fact that the world is moving faster today than it ever has in a virtual direction that will be filled with new experiences and opportunities. 

On the blockchain side of things, DeFi, NFTs and play to earn have already proven their importance for the future, and we are working hard to explore such technologies to help individuals and brands understand how to use them and enter the “Metaverse” on their own terms. We are still at the start of this exciting journey, and there is undoubtedly much more to come down the line. 

About Reality Gaming Group

Reality Gaming Group is an award-winning developer and publisher of blockchain-based games, NFT digital collectibles and bespoke marketplaces for global brands. Key releases via the Reality Studios publishing label include Doctor Who: Worlds Apart, Smighties Universe, Reality Clash and Emojibles. Reality Gaming Group’s Digital Asset Trading (DAT) Platform is also available for license by third parties, enabling the creation of fully-managed NFT experiences across multiple content types. The Reality Gaming Group leadership team has more than 20 years’ experience across Mobile, PC, Console, AR and VR games. The company is listed as a Top 50 blockchain games publisher by industry bible BlockchainGamer.biz

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