From the LBank blog.
The Metaverse is a collective virtual shared space, created by the merging of virtually enhanced human reality, including the sum of all virtual worlds, augmented reality, and the internet.
It is a global consensus-based grid, where everyone is invited to participate in designing the virtual world you experience. The result is a cyber-environment that transcends differences in geography, politics, race, and religion. Your participation makes you an agent in building a world that reflects your visions but also contributes to everyone else’s vision.
It is a digital space that contains interconnected 3D spaces, communities, and users. A metaverse is made up of different layers, an individual instance of a metaverse is called a universe.
A metaverse is the collective digital space of a community connected by shared technology, interests, or experiences. This allows the different worlds to interact with each other constituting a metaverse ecosystem.
In short, it’s a universe that exists parallel to our own. The primary purpose of a metaverse is to allow the collaborative development of virtual worlds. Metaverse refers to a future platform for them all, acting as a meta-layer for connecting previous platforms.
How Important Is the Metaverse in Shaping the World Economy
The Metaverse is an important tool that will shape the world economy. With the help of computer systems, online communities can be created, potentially making them accessible to billions of users.
Basically, the control and use of virtual currency will also be a very important aspect because it can affect what goes on within online communities.
In the view of some, the Metaverse has emerged as the most important social and economic trend today. To predict it is to understand how the economy will unfold in years to come.
For years, the internet has held vast and unexplored potential, especially when considering its influence on the world economy. The Metaverse is a useful model for understanding how the internet will indirectly connect people, businesses, and institutions in future scenarios.
The metaverse is the next evolution of the Internet. It’s a distributed network where every piece of data is stored with a blockchain-based timestamp and validated by all nodes on the network, creating a system where digital information can never be lost.
Not only does Metaverse give people a new space to transact with money and smart properties, but it also provides crucial support for social development and human progress.
The Internet is shaping the way we interact, transact and grow as a global economy. It’s all fueled by data — billions of people around the world are generating and sharing more data than ever before. This surge in information drives how media is produced and consumed, and how commerce will be conducted in the future. We believe that blockchain technology has the potential to dramatically reshape this model.
The impact of virtual reality (VR) and augmented reality (AR) technology on the global economy will be significant.
According to Statista, “VR gaming, VR video/feature viewing, and AR gaming make up the three largest consumer use cases for augmented and virtual reality (AR/VR), with 17.6 billion U.S. dollars expected to be spent in 2024.”
LBank at the Forefront of Attracting the Next-Gen of Users into the Metaverse
LBank, a top crypto exchange has always been a pioneering leader in blockchain, and it will strive to promote the development and scalability of the Metaverse ecosystem. LBank combines centralised services with decentralised features to provide better service for users.
The LBank crypto exchange believes that the metaverse is the future of blockchain technology and is the best choice of a market entrance at the moment. Hence, it is advancing the metaverse by listing great Meta-GameFi tokens on the exchange.
To attract the next generation of users into the metaverse, the top crypto exchange continually makes these metaverse and GameFi projects available to users much earlier before it gets to other exchanges. Most importantly, these tokens are carefully selected by the LBank Labs team.
In addition, the trading platform has engaged with local partners globally to commence an educational meetup that will help both old and new crypto investors understand the latest trends in blockchain and crypto, and how to maximise their opportunities by diversifying their trading portfolio with LBank.
This article came directly from the LBank blog, found on https://medium.com/lbank/metaverse-a-multi-billion-market-for-creators-and-investors-1e3e08a572e9?source=rss-87c24ae35186——2