Humanity has always strived to expand the boundaries of reality. From cave paintings to cinema, from the first computer games to social networks — we continuously create new ways to interact with the world and with each other.
Every technological revolution has brought us closer to an idea that not long ago seemed like science fiction: a fully digital universe where you can not only communicate and consume content, but also live, work, build, and even feel emotions — just like in the real world. This concept was predicted by writers and futurists, dreamed of by game developers and engineers.
Today, it is beginning to take shape and has a name — the metaverse. But what exactly is it? Another stage in the evolution of the internet, or a fundamentally new world? A technology of the future or just a passing trend? Let’s figure it out.
What Is the Metaverse? A Simple Explanation of the Digital Future
Technology is changing our lives faster than ever before. Just a few decades ago, the internet was something new and unfamiliar — but today, it has become an integral part of everyday life. We study, work, relax, and even shop in the online space.
But imagine if the internet evolved from a familiar set of websites and apps into a fully immersive virtual world, where you don’t just read information but actually dive into a digital environment and interact with it. This kind of space is called the metaverse. It’s a virtual world that combines elements of real life, gaming, social networks, and the digital economy.
In the metaverse, each user has their own avatar, which allows them to explore different locations, meet with friends, attend concerts, work, and even buy real estate — though not in the physical sense, but as digital assets that hold actual value.
Where Did the Idea of the Metaverse Come From?
Today, the term metaverse appears more and more frequently in news headlines, marketing, and even conversations about the future of entertainment, work, and education. However, the idea of the metaverse isn’t new to humanity — it has long existed in science fiction. For instance, in the 1992 novel Snow Crash, author Neal Stephenson was the first to describe a virtual reality where people exist as digital avatars.
Although many still view the metaverse as something out of a sci-fi novel or films like The Matrix or Ready Player One, it’s already available today through specialized platforms, video games, and digital products. One prominent example is Horizon Worlds, a project promoted by Mark Zuckerberg and Meta.
The term metaverse was first introduced back in 1992, but interest in it surged dramatically after the pandemic. Due to lockdowns, remote work, and restrictions on movement, people began seeking new ways to connect and be present with others.
The metaverse offered a new level of digital interaction — a sense of shared presence in a virtual space, even if you’re physically alone with your computer.
Metaverse projects like Second Life, Minecraft, and Fortnite have already shown that people are willing to spend time in virtual worlds, build homes, create digital businesses, and even earn money there.
Today, the development of technologies such as blockchain, virtual reality (VR), augmented reality (AR), artificial intelligence, and cloud computing is bringing the concept of the metaverse closer to reality.
Key Features of the Metaverse
- Immersion – Unlike the regular internet, where users simply look at a screen, the metaverse allows people to become part of the virtual world through VR headsets, augmented reality (AR) glasses, or even basic mobile apps.
- Free movement and interaction – In the metaverse, users can travel between different digital environments, meet other users, attend events, play games, and work — all within the virtual space.
- Blockchain-based economy – Cryptocurrencies serve as the bridge between the metaverse and the real world. They enable access to digital assets, payment for services, trading, and investment. For example, purchasing virtual land or items in the metaverse often requires a platform-specific token. There are already many such examples — from Decentraland to The Sandbox. Special NFTs (non-fungible tokens) are created — unique digital items that prove ownership of objects like outfits or buildings. These assets can be quite valuable, as they are limited and can be used across multiple projects at once.
- Decentralization – Traditional internet platforms are controlled by large corporations like Google or Facebook. The metaverse, on the other hand, is built on blockchain, which means there’s no single owner. Each user can be a full-fledged participant in this digital world, maintaining control over their data and assets.
Also read: What is DeFi in cryptocurrency and how is decentralized finance changing the financial world?
How the Metaverse and Cryptocurrencies Are Connected
Cryptocurrencies play a key role in the development of the metaverse. They are used for purchases, value exchange, and even income generation. Here are a few examples:
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Buying Virtual Real Estate. In metaverse platforms like Decentraland, The Sandbox, and Otherside, users can purchase plots of land and build anything they want on them — homes, shops, offices, galleries. Companies like Nike, Gucci, and Adidas have already opened their own digital stores in the metaverse.
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NFTs and Digital Assets. NFTs allow users to buy and sell unique digital items — from avatar clothing to digital artwork. For instance, virtual sneakers can cost thousands of dollars if they are rare and exclusive.
Play-to-Earn Games. In games like Axie Infinity or Gods Unchained, players earn cryptocurrency for completing tasks and participating in the virtual economy. This model has become a new way to earn income for millions of people around the world.
Top 5 Popular Metaverses in Cryptocurrency
In recent years, blockchain-based metaverses have been gaining popularity, offering users entirely new opportunities.
These digital worlds not only provide entertainment but also allow people to work, earn, and own unique assets in the form of NFTs (non-fungible tokens).
Here are five of the most popular metaverses that use cryptocurrencies to build virtual ecosystems:
1. Decentraland (MANA)
- Blockchain: Ethereum
- Cryptocurrency: MANA
Decentraland – is one of the first metaverses that allows users to purchase virtual land plots and build various structures on them, such as houses, shops, offices, and art galleries.
This metaverse uses the MANA cryptocurrency for all financial transactions, including the purchase of land (LAND), as well as for trading digital assets within the platform. Decentraland regularly hosts events such as virtual concerts, exhibitions, product launches, and conferences, where major brands — including Coca-Cola, Samsung, and Sotheby’s — have already established their virtual presence.
This provides unique opportunities for content monetization, user interaction, and full immersion in a virtual world. Decentraland is actively growing and offers its users tremendous potential to create unique projects, making it one of the most exciting metaverses for NFT holders and crypto enthusiasts.
2. The Sandbox (SAND)
- Blockchain: Ethereum
- Cryptocurrency: SAND
The Sandbox – is a metaverse focused on the creation, ownership, and monetization of virtual worlds. Within it, users can build their own games and content using SAND (the platform’s native cryptocurrency), as well as purchase virtual land plots to develop unique structures.
A key feature of The Sandbox is its strong integration with NFTs, allowing users to create unique assets such as avatars, objects, and in-game elements.
Major companies like Adidas, Gucci, and Atari are actively involved in the metaverse, highlighting the growing interest from brands looking to promote their products in virtual spaces. The Sandbox continues to expand its ecosystem by adding new features such as hosting gaming events and enabling users to develop their own businesses.
3. Otherside (APE)
- Blockchain: Ethereum
- Cryptocurrency: APE (ApeCoin)
Otherside – is a metaverse built on the popular NFT collection Bored Ape Yacht Club (BAYC). This unique project combines elements of gaming, social networking, and decentralized platforms. In Otherside, users can own virtual land parcels (Otherdeeds) and develop them by creating digital objects and content.
A key component of the ecosystem is the use of ApeCoin, a cryptocurrency used for making purchases, paying for transactions, and accessing exclusive events within the metaverse. The space actively attracts attention from NFT collectors and users interested in the BAYC project.
Otherside promises to be a major player in the metaverse, catering to both gamers and digital asset collectors. The project is rapidly evolving, and its opportunities continue to expand every day.
4. Axie Infinity (AXS, SLP)
- Blockchain: Ronin (a custom Ethereum-based network)
- Cryptocurrencies: AXS (Axie Infinity Shards) and SLP (Smooth Love Potion)
Axie Infinity – is a gaming metaverse with Play-to-Earn elements where players breed, train, and battle digital creatures called Axies.
These creatures are NFTs, and each one is unique with various characteristics and abilities. In the game, players can earn SLP cryptocurrency, which is used for purchasing, upgrading, and selling Axies, as well as AXS, a governance token.
Axie Infinity has gained massive popularity among users wanting to earn through gaming and has attracted attention from global investors, including major crypto firms and even governments of some countries, such as the Philippines, where players started using Axie Infinity as a means of earning. The project has an active and growing economy, making it one of the most successful examples of a metaverse with real-world earnings through blockchain technologies.
5. Illuvium (ILV)
- Blockchain: Ethereum (with Immutable X to minimize fees)
- Cryptocurrency: ILV
Illuvium – is a fantasy role-playing game set in an open world with metaverse elements. Players explore vast virtual worlds, battle creatures known as Illuvials, and collect them as NFTs.
Each Illuvial has unique characteristics and can be used in combat, as well as sold or traded on NFT marketplaces. Illuvium is known for its high-quality graphics and deep gameplay mechanics, and the project promises to be one of the most ambitious blockchain games in the world.
In the metaverse, players can earn ILV cryptocurrency, which serves as both an in-game currency and a governance token for the project’s ecosystem. Illuvium is attracting attention from both gamers and crypto investors due to its high monetization potential and unique gaming mechanics.
The Future of the Metaverse
The metaverse is still in development, but large companies are investing billions of dollars into it. Giants like Meta (Facebook), Microsoft, Google, and Epic Games are creating their own digital spaces, developing devices for immersion into the virtual world, and improving artificial intelligence technologies.
However, the metaverse also faces challenges:
- Technological limitations – not everyone has access to VR headsets and powerful computers yet.
- Security and privacy concerns – virtual worlds require reliable data protection.
- Legal aspects – legislation is still not prepared to regulate digital ownership.
Despite these challenges, the metaverse is not just a trend, but a new stage in the development of digital technologies. It could change our lives in the same way that the internet once did. In the future, work, education, and even travel may become part of virtual worlds, and the metaverse economy could become as significant as the real one.
Also read: Step-by-step guide to working with cryptocurrency for beginners, with examples and explanations.
FAQ
How to Start Using the Metaverse?
- Create a Cryptocurrency Wallet
The best options for an average user are MetaMask or Trust Wallet. Be sure to store your seed phrase in a secure place! - Choose a Platform
Once the wallet is created, the user should select a metaverse platform:- Decentraland – an open world on Ethereum
- The Sandbox – a gamified metaverse with elements of Minecraft
- Spatial – for 3D exhibitions and meetings
- Voxels, Somnium Space, Roblox, Otherside
- Fund Your Wallet and Start Exploring
After choosing a platform, the next step is:- Purchase ETH or the required token on exchanges (Binance, OKX, Bybit)
- Connect your wallet to the platform
- Create an avatar, explore the map, and try to earn
Tip: Beginners in the world of cryptocurrency and the metaverse should start with free activities, such as attending events, socializing, or creating 3D objects in VoxEdit (Sandbox).
Are There Risks in the Metaverse? What Do Experts Say?
Secondly, laws regarding ownership and trade in the digital space are still being developed. This becomes more complicated considering the international nature of these platforms: the laws in one country might be prohibited in another, or still undefined.
Key Risks:
- Volatility of tokens – prices can crash overnight
- Scams and phishing – fake websites, fraudulent NFTs, malicious contracts
- Loss of access to wallet – recovery is impossible without the seed phrase
- Regulatory uncertainty – laws are still in formation
- Dependence on the platform – if the project disappears, tokens and assets may lose value
Like in any emerging technology, the risks are real. The key advice for anyone diving into the virtual reality world is not to lose your head and act wisely.
Experts say we will witness a significant transformation in the coming years, creating a copy of the world where many tasks can be accomplished without leaving home. Some view the metaverse as a marketing trend, while others believe it is the future. Most likely, the truth lies somewhere in between.
Advice: Always check the website’s address, avoid connecting your wallet to suspicious sources, and store your recovery phrase offline.
Can You Earn in the Metaverse?
Popular Ways to Earn:
- Play-to-Earn – games where you earn tokens for activities (e.g., Axie Infinity, Illuvium)
- NFT Creation – modeling, designing clothes, selling digital art
- Buying and Selling Land – buy cheap, sell high
- DAO Participation – earn income by voting and managing projects
- Streaming and Hosting Events – paid lectures, stand-ups, concerts
- Developing Objects/Locations – architects and designers are always in demand
Fact: In The Sandbox, some designers earn $1,000–$5,000 per month just by creating and selling items and interiors.
What is Virtual Land and Why is it Needed?
Ways to Use Purchased Land in Virtual Reality:
- Build structures (galleries, schools, shops, concert halls)
- Place brand advertisements
- Host events (lectures, parties, presentations)
- Rent to other users or companies
- Create paid entry to exhibitions or concerts
Case Study: Snoop Dogg bought a plot of land in virtual reality on The Sandbox, built “Snoopverse,” and sells digital party tickets.
Why Do Brands Enter the Metaverse? Is it PR or a Real Strategy?
- New audience (especially young Web3 users)
- Unconventional interaction format
- Experimentation with digital products (clothing, NFTs, merchandise)
- Reputation boost: being “early” = being innovative
Examples:
- Nike created a virtual Nikeland on a purchased land in Roblox.
- Gucci sold a digital bag for more than its real-world counterpart.
- Samsung purchased land in virtual reality and opened a virtual store in Decentraland.
What Devices are Needed for Full Immersion in the Metaverse?
Basic Level – Entry Without Extra Costs:
- PC or Laptop – with any modern operating system. The key is stable browser performance.
- Internet + Browser – Chrome, Firefox, or Brave work great. Many platforms work directly in the browser without needing to download a client.
- Cryptocurrency Wallet (e.g., MetaMask) – needed for authorization, storing tokens, purchasing digital items, and interacting with blockchain functions.
This format works well for those starting with platforms like Decentraland, The Sandbox, or Spatial.
Maximum Immersion – Feeling of Being Inside the World: If you want to feel as if you’re inside a virtual world, interact with objects using gestures and body movement, you’ll need advanced gear:
- VR Headsets (Virtual Reality):
- Meta Quest 2 / 3 / Pro – standalone devices tightly integrated with Horizon Worlds.
- HTC Vive – popular among gamers and professionals due to its high motion tracking accuracy.
- Valve Index – a flagship among VR headsets, offering high-quality visuals and controller sensitivity.
- AR Glasses (Augmented Reality): Although still gaining popularity, mass-market products like Apple Vision Pro are expected in the future, allowing people to overlay digital objects on the real world, blending the physical and virtual.
- Powerful PC or Gaming Console (if the headset is not standalone) – crucial for rendering 3D graphics and smooth performance at high resolutions.
Additional Devices and Accessories:
- Haptic Gloves – allow users to “feel” objects in the digital space.
- Body Motion Trackers – detect head movements, hand gestures, and even walking.
- 3D Audio Systems or Headphones – enhance the sense of presence.
How are Metaverses Changing Everyday Life?
For users, this also presents opportunities: engage in creativity, earn money, find work, or purchase a digital version of their favorite physical item. New professions are emerging: virtual space designers, content curators, digital world architects, and more.
Conclusion
If you’re curious about the future of the digital world, the metaverse is an excellent starting point. It integrates future technologies like blockchain, VR, AI, and cryptocurrencies.
Even if you’re new to this field, learning the basics will help you understand how the virtual economy is developing and the opportunities it opens up for all of us.
Perhaps one day, your next job, meeting with friends, or even purchasing real estate will take place not in the physical world, but in the metaverse.
