Visiting mum in your native home in Rio De Janeiro in Brazil, you need to be in a live business meeting in Qatar within the next 2 hours. 3 hours after that, you must be in the hospital in New York where you’re expecting your son—wifey is due for delivery. 4 hours later you have to be in Singapore for live bidding of a real estate property …
The above scenarios don’t seem precisely feasible, as you must be right there in person and not just through video conferencing?
You’re probably thinking … “I would be in an animated form. It wouldn’t feel real.”
Not entirely true. Before you even begin to understand the feasibility of these scenarios, you have to understand some basic concepts first.
First, the Blockchain – a technology that lets you verify ANYTHING online.
Second, Non-fungible tokens (NFTs) – unique identifiable data that can be attached to any object, irreplaceable even with identical objects. This lets you own items of unique properties which define who you are. NFTs, give you a unique digital identity.
Third, Augmented Reality (AR) – a technology that lets you interact with digital elements in the physical world – think holograms. AR technology can enhance your visual, auditory and sensory experiences in the real world.
Fourth is Virtual Reality (VR)- VR technology lets you immerse your physical self into a digital space. This is what enables you to turn yourself into virtual avatars.
Now, imagine a world made of these underlying technologies.
A virtual reality that has virtual forms of your businesses and offices anywhere in the world. You can also find virtual forms of your favourite hangout spots that you can visit as an NFT-digital avatar, giving you a unique identity. With Blockchain and NFTs, you can verifiably buy, sell, and own things in this virtual world, and with AR, these experiences will feel no less tangible than your experiences in the physical world and possibly better.
This is the METAVERSE and we’re already living it now!
Authored by Victor Ugochukwu, a self-described “crypto native with deep knowledge in DeFi & NFTs”. The piece above first appeared on Linkedin.