Multiple Metaverses. Yes, you read that right. But what is the meaning of the Metaverse?

There is no one metaverse out there. Facebook's rebranding to Meta doesn't change the fact that there are multiple metaverses in existence, in multiple shapes and forms.

From Meta's (Facebook's) three-dimensional (3D) vision of the internet to [Decentraland's](https://decentraland.org/) decentralised 3D virtual reality (VR) platform, to the numerous gaming worlds in existence (like World of Warcraft and NFT-based Axie Infinity), there are several metaverse concepts around.

Global powerhouses like Microsoft and Nike are venturing into the metaverse space as well. Let's make things clearer by defining a metaverse.

## Multiple Metaverses? What's a Metaverse Any Way?

A metaverse is a virtual universe in which users can interact with one another as avatars in shared spaces to socialise, work and play games. Millennials have been playing games in which users can purchase in-game items like skins and weapons for many, many years.

They are familiar with the concept of in-game purchases and understand NFTs better than most. Companies venturing into the metaverse space are targeting the younger generation (those born in the 1990s and after) and should try to leverage the power of NFTs as well.

## Using NFT Technology

Using NFT technology in the metaverse sphere may enable users to move digital assets from one metaverse to another – how cool is that? It is safe to say NFTs will underpin the metaverse sphere and enable users to claim ownership of digital assets like art and music.

That said, there is much more to the sphere than just digital asset ownership. As a 3D vision of the internet, the metaverse will enable you to attend meetings, concerts and other events of importance in the virtual form (as a hologram).

Of course, this concept is one for the future and for now we must enjoy the many metaverses that are currently at our disposal.

For more Metaverse news, see [here.](/news/category/metaverse-news)



Welcome to the Era of Metaverse Crypto

Facebook, and parent company, Meta, have been in the media a lot lately.  While not all of the headlines have been good, a recent one that announced the company’s mega investment of $10 billion into creating “the metaverse” should pique the curiosity of crypto communities around the world. 

Metaverse is more than a new buzzword, and it is _not_ unique to Facebook.  Microsoft is another industry titan trying to lay its own claim to this so-called metaverse. They may, in fact, be _leading_ the charge considering how Microsoft has already adapted several technologies currently used in these environments.

## What _is_ a metaverse? 

The term was first used in Neal Stephenson’s 1992 science fiction novel, "Snow Crash."  In it, Stephenson hatched the term when he described avatars who would connect and congregate in 3D buildings and other virtual reality environments.  In our world, metaverses are best defined as digital universes that people access with a virtual reality headset. This allows them to work and play in an imaginary, digital realm.  It’s virtual reality at its finest.

Here’s where it gets interesting – the leading members of the technology brain trust are convinced that the metaverse represents _the future of the internet_, and it’s rapidly evolving.  With metaverses making more strides into becoming a reality, we are learning that to truly become _fully_ immersive worlds with their own economies, they need to have a form of currency.

That’s where digital assets come into play as they are often paired with blockchain VR social platforms. This is so that people can buy items within the game, such as land, weapons, or other items that can be traded with other players. 

## Top 3 Cryptocurrencies for Metaverses

Here are three of the top cryptocurrencies well positioned to serve as the economic backbone of future metaverses:

### [**SAND**](https://www.sandbox.game/en/)

The Sandbox is a virtual world (metaverse) where players can build, own, and monetise their gaming experiences in the Ethereum blockchain using the platform’s token, (SAND).  SAND has a current market cap of over $2 billion and the Hong Kong-based gaming platform very recently raised $93 million from SoftBank. SoftBank is apparently committed to watching Sandbox further expand its digital world.

### [**Decentraland**](https://decentraland.org/)

Decentraland is another blockchain-based metaverse powered by the ETH blockchain.  Here, users can purchase plots of digital real estate called "LAND.”  Users are then able to buy plots of LAND using the metaverse’s in-game cryptocurrency token, (MANA).  Users can both purchase LAND in this metaverse as well as use their MANA tokens to pay for in-world goods and services.  At present, MANA has a market cap of over $4 billion and since trading at around $0.08 this past January, MANA has shot up to $3.18 today.

### [**Enjin**](https://enjin.io/)

The self-proclaimed “largest gaming community platform” currently boasts more than 250,000 gaming communities and more than 18 million registered players.  The Enjin Coin (ENJ) is an Ethereum-based coin with a market cap of almost $3 billion.  The main use case for Enjin is creating ENJ backed assets that can be accessed in games.  For example, developers can create items such as weapons, and back them with a certain amount of ENJ coins. 



Metaverse from Facebook has Begun- 3 Coins to Watch

Crypto exchange [KuCoin](https://www.kucoin.com/) has launched a 'virtual skyscraper' in the Bloktopia metaverse.

KuCoin will be housed in the tower’s 5th floor. The virtual building will have 21 levels and will hope to house other content creators, including Polygon and Avalanche.

The company is set to join an already well-known spread of blockchain companies based within the virtual skyscraper, including its parent company High Fidelity, Everdragons and Black Bull Capital.

## A Dynamic Environment

Black Bull Capital’s CEO, Trevor Koverko, described the building as a “dynamic environment” for blockchain companies.

He told [Cointelegraph](https://cointelegraph.com/): "I think it's going to be really unique and different, and it's going to be so cool."

"What we've done with this project is create something where you'll have people from all different walks of life and you'll have a very interesting cross-section of people that companies can go to, to service their needs."

People will be able to virtually communicate with eachother and interact within the space.

The space is host to various virtual and augmented reality activities.



KuCoin Crypto Launches Metaverse Space

Facebook (FB) announced Friday that it has formed a new company called ‘Meta’. The news comes as the Senate is set to vote on stronger privacy protections for Facebook users, following significant scrutiny of the social network’s data practices. The metaverse will be a 3D virtual world that will be 'more immersive'.

The House passed new privacy legislation this week. It will require companies like Facebook to get their users' permission before they can share their personal information with advertisers.

The new company is led by Meron Gribetz, who has been described as a "reality visionary." When asked about what its business strategy will be, Facebook said it's focusing on hardware and software development through the lens of augmented reality (AR). CEO Mark Zuckerberg announced that the 3D world would include NFTs.

"It’s going to take ecosystem building, norm setting, and new forms of governance and this is something that we’re really going to focus on,” Zuckerberg said.

Pundi X has been building out a network of retail devices over the past couple years. The company has a goal of enabling "any store to buy, sell and accept cryptocurrency as payment." The company's initial plan was for consumers to spend their digital tokens on everyday items from groceries to transportation. Now it seems Facebook is pushing NFTs into that same physical, real-world realm.

**Privacy will be built in Facebook Metaverse from "day one"**
--------------------------------------------------------------

Zuckerberg assured the public that privacy and safety will be built into the metaverse along with interoperability.

He reiterated; "Privacy and safety need to be built into the metaverse from day one.”

And so we've gone from a world of isolated VR headsets, to one where we will have our own token economy that locks us into an all-encompassing social metaverse. This isn't science fiction anymore. What used to feel like the distant future is now just around the corner.



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