‘Metaverse’ is a broad, immersive digital environment in which people meet, create, connect, work, purchase goods and services, and engage with others who do not have the same physical space. A true metaver is a perfect repetition of real life, although it is not known how many more years it will take to grow. The word metavers was invented three decades ago in the Snow Crash. Facebook, the world’s largest social networking site, has been recognized as a meta-maker this year.
Called the next version of the Internet, Web 3.0 builds on the concept of decentralized management, transparency and advanced user service. It will be based on blockchain logging technology, in which users will have a stake in forums and applications. Looking back, the current version of World Wide Web or Web 2.0 has been identified on social media platforms, which allows for more user-generated content.
This is a far cry from Web 1.0, which is an all-encompassing and non-interactive – completely top-down data transfer process.
Blockchain is basically a database, but it is very different from any other database you have seen. As the name implies, blockchain is a chain of blocks, each block stores some information. Other key features of the blockchain are decentralized and unchanged design features. Although Crypto is the most popular form of blockchain, governments around the world and in India are moving rapidly to use this technology for administrative and public administration purposes.
NFT is a non-short token. It is a unique digital certificate that is used to register blockchain property as an artwork or collection. Most people do not know what NFT is until this year, when sales are high, with former Twitter CEO Jack Dorsey selling his first Twitter NFT for $ 2.9 million. The madness of the NFT in India came after Bollywood superstar and actor Amitab Bachchan launched his collection, including the autobiography of the films, as NFT.
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