What is metaverse and NFT?

 What does metaverse mean?

The metaverse can be defined as a simulated digital environment that uses augmented reality (AR), virtual reality (VR), and blockchain, along with concepts from social media, to create spaces for rich user interaction mimicking the real world. Think Ready Player One, but more accessible and pragmatic.

In the metaverse, users traverse a virtual world that mimics aspects of the physical world using such technologies such as virtual reality (VR), augmented reality (AR), AI, social media and digital currency. The internet is something that people "browse." But, to a degree, people can "live" in the metaverse.

Facebooks metaverse

It's the metaverse — defined most simply as a virtual world where people can socialize, work, and play — and Facebook's CEO Mark Zuckerberg believes it is the future of the internet and of his trillion-dollar company.

Metaverse cryptocurrency

Metaverse projects on blockchain networks are powered by fungible tokens – tokens that are divisible and can be mutually exchanged. These tokens are used to purchase digital assets like virtual land or outfits for avatars. They can also be traded for other crypto or fiat currencies.

metaverse and NFT

The metaverse will allow people to showcase digital forms of art and property, and NFTs will allow them to put a price on that content with proof of ownership. While NFTs use the same blockchain technology that cryptocurrencies use, they're not a type of currency themselves. Each NFT is attached to a specific item.

What can I do with metaverse?

VIRTUAL ECONOMIES - Metaverse participants are able to engage in decentralized virtual economies powered by cryptocurrency (like Sensorium Galaxy's very own SENSO. This includes marketplaces where users can buy, sell and exchange items like digital assets like avatars, virtual clothing, NFTs and event tickets.