found that only 38 per cent of millennials think “the metaverse is the next big thing and will become part of our lives in the next decade.”
These digital universes have their own cryptocurrencies and marketplaces for digital clothing and accessories for avatars. You can buy digital property, build on it, rent it out and sell advertising space. Parcels of land, along with any clothing purchased for your avatar, are technically NFTs and transactions are recorded on a blockchain.
The rebrand is an emblem of the company’s long-term bet that users will increasingly spend time in virtual worlds. “We believe the metaverse will be the successor to the mobile Internet, we’ll be able to feel present – like we’re right there with people no matter how far apart we actually are,” Mr. Zuckerberg said.that includes fragrance, touch and sound to allow users to lose themselves in virtual reality.
Decentraland, whose creators raised about US$26-million in an initial coin offering in 2017, opened its online playground to the public in February,
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