2.2 Metaverse and the role of cryptocurrencies and NFT

The Metaverse is the next stage in the development of the lnternet. We do not know exactly how it will be arranged, but it is designed to break down the barriers between Facebook and Fortnite, Google and Call of Duty, and get to а level where virtual reality will merge with physical reality as much as possible. This will lead to а new level of networking, to which many IT industry leaders are striving.

Thus in April 2021, Epic Games (whose equity capital is now estimated at $ 28.7 billion) announced the completion of attracting $1 billion in investment forthe development of the Metaverse.

The development of large platforms such as Facebook has allowed hundreds of millions of users to share content, interact with each other, gather gaming communities and play games. But since these platforms are controlled by centralized organizations, they also control content flows, regulate the rules of these communities and, as а result, own the income from the activities of the communities solely.

Digital property is becoming the backbone ofthe future of the lnternet. These games will eventually form the all-embracing Metaverse of theWeb 3.О lnternet level, the gradual switchover to which is beginning to occur right now.

In Web 3.О, all data will actually belong to users rather than individual companies and will be stored decentralized, which is much safer and faster. At the same time, data and assets in this Metaverse should eventually become interoperable in the global Metaverse, і.е. any assets could be exchanged between different worlds, games and economies. Via the Metaverse, а person must be able to interact with users of any site and have access to all games at once.

In the Metaverse, the users will be able to sell their NFT collections to other players in the gaming hall, attend а global online concert using only their avatar, participate in the life and economy of the virtual city, and advertise their offline business on the walls of virtual buildings. In the same place, with the help of an avatar, it will be possible, for example, toview and select а 3D layout ofyour future apartment, concluding а safe bargain with the developer through а smart contract, without leaving your home, etc.

The decentralized gaming platforms on which blockchain applications are built today provide greater connectivity and scalability than ever before, and with the rise of blockchain and NFT applications, this market is rapidly gaining momentum.

The next generation lnternet - Web 3.О - will be built on the basis of decentralized technologies, on the basis of decentralized Dapps. The transition to itwill be long and gradual, but blockchain-based projects are entering real life right now. And these projects have great chances of becoming market leaders in the near future.