Is Metaverse coin dead?
Cryptopedia - The idea of â€‹â€‹a metaverse is simply the digital realm of our physical world. Basically a 3D world focused on social interaction. The concepts of virtual reality and augmented reality are used in the Internet of virtual worlds.
Metaverse is still very important as the Internet age takes on a new shape with the migration of various projects to Web3.
It is too early to say that the Metaverse cryptocurrency coin is dying due to the persistently bad market. The general cryptocurrency space is currently suffering from a persistent bearish market, and not just because of the Metaverse token. DeFi projects have also been hit hard by the bad market.
Using Metaverse tokens will still come in handy once the bear market subsides. Metaverse tokens are digital currencies used in the 3D digital world. It is expected that every project, group, institution, school, and country will one day own a digital token to digitally conduct the affairs of the institution. This will eventually become a reality as the internet continues to grow and the adoption of decentralized systems.
Adopted by Metaverse
Many institutions have integrated the use of Metaverse into their systems. Recently, Dubai's Interpol was the first police agency to offer Metaverse services, as revealed by Dubai's Ajman Police Headquarters when it launched a "request for sponsorship," which allows the public to contact authorities remotely and should be recorded.
According to Khaleej Times, Dubai aspires to be the global expansion hub for Metaverse. Social media platforms like Meta have entered the Metaverse. In addition, Apple may also have a strong interest in the Metaverse. Bloomberg believes Reality One or Reality Pro could be the name of Apple's Metaverse First headset, expected to launch in 2023, according to an alleged Apple-related trademark filing.
Despite the bear market, the Metaverse token currently has a massive market cap of $11 billion and will set a new record once the market calms down. The Metaverse gives meaning to the idea of â€‹â€‹non-fungible tokens (NFTs), gaming money, and mobile money because it's not just about VR and AR.
Nishant Batra, chief strategy and technology officer at Nokia, said in an in-depth article that the virtual world of the future is one where physical, human and computer reality are interconnected. Also, it was mentioned that by using Extended Reality (XR), we can carry the virtual world with us instead of putting it in our homes and offices. Consumers, businesses and industrial environments will all be happy with this metaverse.
Telecom giant Nokia believes that virtual worlds will replace smartphones as the primary means of communication by the end of the century, reports The Spokesman-Review. Metaverse is ready to take over the communication system as we know it now, providing us with a decentralized communication system with our community.