We understand that much is unclear for a lot of people. It’s also true that the metaverse and its possibilities are in a state of flux. However, here are a few answers to some of our frequently asked questions.
Metaverse definition
Metaverses are virtual parallel worlds that turn the internet into a networked, interactive experience.
The difference between centralized and decentralized metaverses
Various factors determine whether a company or brand opts for a centralized or decentralized metaverse. The visual implementation and ease of use of centralized metaverses are currently more sophisticated, while decentralized metaverses provide greater possibilities for wearables and gamification.
What is Web3?
The internet is by definition essentially decentralized. Web1 and Web2 are based on server farms that are operated centrally by companies. Web3 is the decentralization of server farms through the use of blockchain, an immutable, public, decentralized database. Thanks to this decentralization, communities become stakeholders. This development has created various blockchain protocols, such as the mega-phenomenon NFT, for example.
What are NFTs (non-fungible tokens)?
Here’s the best explanation we can find: https://twitter.com/swombat/status/1548412342571917312.
How much does a metaverse project cost?
Metaverse projects are like web projects. Although it’s a recent development, there are already countless applications (SAS and Open Source) that can be used in a targeted manner, depending on the project. If Web3 (blockchain) development is required, things become more complex and therefore more expensive.