Demystifying Metaverse, NFTs and other crypto assets

economictimes.indiatimes.com:

metaverse on January 11. Punjabi pop singer Daler Mehndi performed live in the metaverse, making it the world’s largest concert by drawing 20 million spectators globally. That is the power of Metaverse, a universal virtual world consisting of 3D virtual spaces based on social connection. The technology interests millennials and generation Z, who are bored with static internet pages and social media platforms. Having experienced AR (Augmented Reality), VR (Virtual Reality), and MR (Mixed Reality), they are more excited about the 3D virtual world that provides real interactions and interesting visuals. Metaverse transports them to an entirely live and interconnected world. Recently, Facebook rebranded itself as Meta and brought the technology to the mainstream by hiring 10,000 people. By creating a metaverse infrastructure, the company intends to transform itself into something futuristic.

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Through the immersive world of Metaverse, users spend time socializing, learning, working, and entertaining, among other things. It is a blend of AR, VR, and MR. It has components of gaming, crypto, and social media embedded into it. For example, Metaverse allows its users to play online games on various avatars. Through VR headsets, they can enjoy an immersive experience that is delightful visually.Non-FungibleTokens (NFTs) NFTs are digital products such as art, music, and videos that can be traded by utilizing blockchain technology. Because they are non-fungible, unlike crypto tokens, there exists only one original of an NFT. NFTs are distinct, having