Metaverse and Blockchain - Crypto Academy / S5W1 - Homework Post for @wahyunahrul
Welcome you all to a wonderful week and a new season once again
Man has always looked for ways to better his life and his environment, right from the origin of man, he has been trying to live a life of ease and pleasure. Naturally, Man does not like to suffer, so he tends to invent and produce something that makes his life easier. Technology is what man has been inventing or modernizing to make life better. Technology has evolved in the previous years. Things have led to things and it has led to the manufacturing of good products. Man is a being that thinks, that is what he separated from other animals and that is why he is called a higher animal.
Previously, Man can trek for days to travel for a very short distance. The has led him to think something very important and after many trials and error, the cart was produced. As the was produced there is some limitation with the cart, because it needed the horses to power and drive them and so many other factors. The led man to think further, and a CAR was the solution and today there are still many updates happening in the car industry. One of the latest is the electric car, the power of the electric car is not fuel but electricity. So man has constantly been on a journey, and the journey is to better himself and his environment. Below is how man
This is the future of man when it comes to transportation and there is still going to be more development.
When it comes to socialization and interaction and communication, Man also has tried his best to make every means of communication easier, cost-effective, and very faster. In ancient times, for you to communicate with someone in another state, you can use a letter, through the post office and this can take up to a month before it can reach the person. This has caused a big problem in the time past. So decided to think about the future and the thinking has led to the invention of the mobile phone. From Mobile phones to Smartphone that does not have any button and you can operate by touching the screen. You can make calls, text, and even do video calls with someone in another country within some seconds. There is a lot of advancement when it comes to the communication aspect of man.
The metaverse concept was introduced by Neal Town Stephenson in his novel that he titled “Snow Crash”, which he published in 1992.
The amazing one that has been reigning now is the Metaverse, what is Metaverse? Metaverse is the latest concept of the future technology of man, that will enable man to communicate with one another, appearing in real 3D format, and you can see, feel, touch the person you are communicating with from the comfort of your home. For example, I can stay from my house in Nigeria and see, feel, touch someone in America with the use of Metaverse. This is so amazing, this is the real future that everyone has been waiting for. With Metaverse, there will not be a barrier to free physical communication. This is mind-blowing and everyone can not wait to feel the taste of it. Metaverse will automatically break the problem of you being present at a particular place. It will give you the ability to move from one place to another in a split second. It is just like telepathy, but the is done through a device and not voodoo. for us to get this done properly we needed to connect all human senses with the internet, a tool called Virtual Reality will be used.
Metaverse brings the internet very close to man by allowing us men to enter the internet where there are some people and it will feel like it is real life. Of recent the Gaint Social media platform “FACEBOOK” announced that they have changed their name and logo to Meta. To bring people to a new world, where they can communicate physically with their device in respective of your location. Though it is still a concept with time I believe it can come to pass.
This is the future that we all have been waiting for, and Metaverse is the Future.
Knowing what Metaverse is and what it does as we have discussed in the previous question. There is one thing we need to understand, That Metaverse would be a technology just like Blockchain technology and they have a lot in common. And I’m sure that we know that blockchain is used for cryptocurrency transactions in the world.
The is the Seven layers of the Metaverse
The image above was gotten after a series of research was being done, created by a man called Jon n Radoff. From Jon Radoff's chat, we can see that Metaverse is made up of 7 absolute layers, and every layer is unique on its own, with its specialty.
WIth the fifth layer being decentralized. And we all know that Decentralization gives you full control of whatever you are operating or doing without the interference of any party. This layer, which is the fifth layer shows us that the Metaverse runs on a Decentralized system, just like the blockchain technology. This makes them free from every centralized authority control. In this Decentralized system, nobody or party controls the Metaverse and participants can be very free to create things without being stopped by anyone. Because data are being created by individuals the metaverse will tend to grow faster. The Metaverse and Blockchain technology has a wonderful compatible future together.
Blockchain technology will enable the storage of Metaverse data on it. The blockchain will serve as the foundation of the Metaverse. As a Decentralized system, all the transactions and activities of The Metaverse will be a Blockchain network, and once it is done, no one can change it. This enables your creativity as a user and removes every form of manipulation on the blockchain.
The NFT (Non-Fungible Token) provides a solution to the blockchain and makes it more compatible with the Metaverse, by providing authentic digital content. NFT is simply proof that you own a digital asset that is on blockchain technology. Knowing the fact that Metaverse is Virtually inclined in nature, then all the assets and tools will also be digital. And the NFT also runs on the blockchain, and the NFT has a lot of digital content already, so it will be very easy for Metaverse to run on the Blockchain having the NFT already. The Digital content solution is there already.
A clear example of the relationship between the NFT and Metaverse, if someone buys digital assets, let's say a digital car in a blockchain-based Metaverse. Only you can have access to it at any time and any day because it will be automatically stored on blockchain technology. If anyone tries to claim the land, the blockchain will deny him access, because you are the only one that has the proof of ownership of the digital car.
(Don't choose projects that have been discussed in the discussion above). (Screenshot Required)
For this, I will be selecting the polarity,
Polkacity
Polk city is a virtual world blockchain game that gives users which users the total ability to own virtual locations and also provides a steady source of income for the user.
The native token for the Polkacity is the POLC token. NFT has value being relative to the business or location you own, which can be a Digital asset. Your payment is being given to you as long as your assets are under contract. Polka City also has a 3D video game, the game runs on Ethereum Blockchain and the Binance Smart chain.
From the Coinmarketcap.com, let do some further analysis,
From Coinmarketcap.com we can see the following
The Polkacity is being ranked #2763, with a current price of $1.62, and market Cap of $13,895,124 and a volume of $27,110,667 and a circulating supply of 8,707,014.00 POLC, also a fully Diluted Market Cap of $406,698,393
From the chart above, we can see that the price of the POLC is currently on the rise and it will continue to rise for the time being.
(Screenshot Required)
- I already have, the Metamask, installed on my browser as an extension, so I just opened it, by clicking on the icon.
- I then went to the official website of the Polkacity, then I selected the marketplace in one of the boxes below.
- Automatically, the Metamask started to connect with the PolkaCity, then I press connect,
- it shown that the PolkaCity is being connected to the Metamask
(Screenshot Required)
- When you the Polkacity website, it appears like this, have the following features
- The first feature of the Polkacity is the Exchange platform, where you can exchange different tokens, look through it and you will see some examples below
- The next on the line is the Marketplace, this is a place where you can buy and sell your NFTs in the Polkacity, it is made up of many items that are being sampled with their prices.
- The next feature id the bridge, The connect the PolkaCity to other Exchange platforms, like the ethereum and the Binance platform
- Featured Assets, these are Nfts that are higher in price and more expansive are being showcased in the platform of the Polkacity
- My Assets shows your worth, for these below, you can see that I don't have any worth in the polkacity
- Roadmap, this comprises of the visions and the plans of the Polkacity, and some questions that are being asked and their answer. These are step by step guides to PolkaCity
- the last but not the latest id the Tokenomics, shows the relationship of POLC to other tokens
- One of the major advantages of the Metaverse is the fact that it is been Decentralized, meaning that the ecosystem isn’t controlled by a central authority.
- The fact that it is Decentralized, makes the security to be very hard before anyone can hack the ecosystem
- There is room for improvement by the users.
- WIth the help of polka city, you can have another source of income by selling digital assets, creating digital assets, even you can even buy properties.
In conclusion, Metaverse is the next big thing in this world. The concept is mind blowing and everyone would have taste of the feel of it. I must thank Professor @wahyunahrul for bringing this wonderful topic, of truth, this topic is an eye-opener, and I will be personally doing researches regarding it.
Cc: @wahyunahrul