Metaverse
A vision of persistent, shared 3D virtual worlds where users own digital assets and identity across platforms.
The crypto angle is ownership. In a blockchain metaverse, land parcels and avatar wearables are NFTs that users hold in their own wallets rather than rent from a company. Decentraland and The Sandbox sold virtual land for real money during the 2021 boom, some plots fetching six figures.
Reality fell short of the pitch. Many of these worlds saw thin daily user counts even at peak valuations, and prices collapsed in the bear market that followed. The term blurred gaming and virtual reality together with NFTs, and by 2024 attention had largely shifted to AI. Whether any version sticks remains unsettled.
Related terms
A blockchain token that represents ownership of a unique item, where no two units are interchangeable.
Web3A vision of an internet built on blockchains, where users own their assets and identity without central platforms.
GameFiBlockchain games that fold DeFi mechanics into play, letting users own in-game assets as tokens and earn rewards.
TokenA digital asset issued on top of an existing blockchain, usually through a smart contract rather than its own network.