The metaverse It is a very technical concept that probably more than one does not have knowledge about it and how it works. It can be defined as a digital universe where users can interact through virtual reality. In addition, it has its own economy based on NFTs. The term ‘goal’ comes from the Greek word ‘beyond’ and ‘verse’ of the universe.
A few years ago this concept was unthinkable, but today, it is a reality and for which many of the large companies are betting. They want to get even further into digitization and what better than the metaverse to make it possible.
How and when did the metaverse come about?
The arrival of Covid – 19 was the main reason that triggered the development of this new technology. The idea of creating the metaverse came about two years ago, when technology was completely transformed by the pandemic. However, the first step on this path was carried out by Facebook when he decided to change his name to Goal. This change meant an advance in society and a ‘boom’ in the technology sector. As a result of this, more companies followed the same path, as is the case of Nike or Alibaba.
What sectors are betting on the metaverse?
When this concept arose, very few sectors were betting on it. However, today there are several companies that have not thought twice and have decided to enter the metaverse.
- Entertainment and videogames are the sectors that lead the ranking. Many companies have decided to digitize even more. Some of these companies are: Roblox, Minecraft, Fortnite, Microsoft, Nvidia, Unity, among other.
- fashion, is the second sector that has opted for the metaverse. Balenciaga It is one of the great luxury fashion brands that has been digitized, doing it in a striking way; He introduced his articles on the Fortnite video game platform. Van’s, did the same, created a platform known as “Vans World”, thanks to its collaboration with Roblox. Last December, Nike He decided to sign a collaboration agreement with RTFKT, with the aim of introducing his shoes into the metaverse. “We are acquiring a very talented team of creators with an authentic and connected brand. Our plan is to invest in the RTFKT brand, serve and grow its innovative and creative community, and expand Nike’s digital footprint and capabilities. “it states John Donahoe, President and CEO of NIKE, Inc, in a statement from Nike. H&M is another brand that has recently shown its support for this technology. It has opened a new virtual store in CEEK City, that is, users will be able to enter the store, see all the products and, later, they will be able to purchase it in CEEK City, the digital universe.
- Beauty and automotive, is the third and last section. Within this sector, very few companies have opted for using the metaverse.
According to data from the technology company Widbytes, within 5 years, the 70% of the big brands will enter the metaverse and, they predict that for the year 2024, the market reaches a valuation of about 800,000 millions of dollars.
The metaverse developed thanks to NFTs and cryptocurrencies
The creation of the metaverse would not have been possible without the emergence of cryptocurrencies, NFTs, blockchain, etc. The cryptocurrency can be defined as a digital currency that is registered under blockchain technology. There are several types of cryptocurrencies, the best known and most valuable is Bitcoin, followed by Ethereum. While the NFTs, briefly explained, is defined as a non-fungible Token. Is a digital image that can be acquired using any type of crypto. All of this is based on blockchain technology.
