These are the cryptocurrencies that support the development and proper functioning of the Metaverse | Technology

These are the cryptocurrencies that support the development and proper functioning of the Metaverse |  Technology

Metaverse is that concept of virtual world that Facebook, Microsoft, Google or Nvidia are deciding to bet in a brutal way in recent times. So much so, that we could see how recently Facebook changed its name to Meta.

We already know that the metaverse it is posed as a world with an alternative digital reality where people will be able to work and play, even live in one way or another, where users will be virtually present with others and will have the ability to move between spaces using avatars.

The other idea that appears intrinsic to this concept is that instead of fiat money, cryptocurrencies will be used such as bitcoin (among others), to make payments.

Virtual tokens and cryptos will be used for user purchases in games: clothes, collectibles, lands … The best example is the token Metaverse Index (MVI), which offers exposure to different types of crypto project tokens such as NFT (non-fungible tokens).

On the other hand we find the tokens or tokens to play at Decentraland: a virtual or metaverse world already real, which allows players to interact, buy different things within the game … This world is powered by the Ethereum blockchain and within the platform users can monetize their content and applications.

They recently held a virtual event in which the new year could be received by watching the ball fall in Times Square.

In this metaverse, we can use two types of tokens: MANA and LAND. The former is used for all types of transactions and is native to Decentraland. LAND, however, is an NFT that represents all parcels of land on the platform (digitization of private property).

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On the other hand we have the cryptocurrency SAND (The Sandbox), a blockchain system where NFTs can be edited to give them the form of both minigames usable on the platform and vanity objects (clothing or items that give you prestige within the metaverse).

We also have the cryptocurrency VIBE, which can be used to purchase planets and planes on the official Vibe marketplace via this link and that are used to play video games.

Last we have the cryptocurrency used in the NFT Axie Infinity video game, which receives the same name (AXS) a digital asset based on the Ethereum smart contract network and the cryptocurrency TETHA, which represents a chain of blocks specifically dedicated to online video streaming.

It is more than clear that crypto assets will play a key role in the adoption of metaversor. Although currently it is still an idea that has a few years to come to fruition (if it is finally achieved), the metaverse is framed as one of the main objectives of large corporations.

Just as data, Bloomberg Intelligence estimates that the size of the Metaverse market will reach $ 800 billion by 2024.