The meta-verse is a digital reality that combines aspects of social media, online gaming, augmented reality, virtual reality and Cryptocurrencies to allow users to interact virtually. For some people it is an advanced form of the internet referring to the concept of a highly immersive virtual world for socialization; the word is a portmanteau combining the prefix “meta” and the word universe describing the virtual universe. Cryptocurrency is virtual money that is digital money for the digital world. Meta-verses use virtual reality, augmented reality, block chain technology and social media to create places that people want to spend time in; they are virtual worlds with virtual economies, though many are still in their infancy.
As we can read from Reuters El Salvador plans first “Bit coin city” which will be funded initially by bit coin-backed bonds, President Nayib Bukele said the city planned in the eastern region would get geothermal power from a volcano and not levy any taxes except for value added tax. Half of the VAT levied would be used to fund the bonds issued to build the city and the other half would pay for services such as garbage collection, President Bukele is estimating the public infrastructure would cost around 300.000 bit coins. El Salvador in September became the first country to adopt bit coin as legal tender.
These days it seems like everybody and their corporate parent company is talking about “the meta-verse” as the next big thing that’s going to revolutionize our online lives. The meta-verse is a hypothesized iteration of the internet, supporting persistent online 3-D virtual environments through conventional personal computing; the meta-verse is seen in science and fiction in which lifelike avatars are envisioned to have met in the realistic 3D buildings and other virtual reality environments.
Everyone seems to have their own idea if they have any real meaning of what imagination and reality stand for, generally people attach the notion to the public over the worldwide fiber-optics network and this is projected onto the virtual reality goggles. In it developers can build buildings, parks, signs, as well as things that do not exist in reality such as vast hovering overhead light snows, special neighborhoods where three-dimensional space time are ignored and free-combat zones where people can go hunt and kill each other.
