Source: Sohu. com – NOOB HUANG

Our News (Reporter: He Junjie) The metauniverse has recently become a particularly hot topic. On the 17th of this month, the Macau Millennium College held a lecture on the metauniverse with the theme “The metauniverse that needs to be known”. Guo Weiwang, President of Hong Kong Caton College and Executive Chairman of the Macau Digital Asset Exchange Association, was invited to introduce relevant knowledge of the metauniverse, and nearly 100 people attended the meeting. Guo Weiwang stated that the metauniverse is a digital world that combines blockchain technology, social media, online games, virtual reality, augmented reality, virtual currency, and digital assets, and believes that the metauniverse will become the next stage of development of the Internet.

Photo of Guo Weiwang and the participants (photographed by Lu Zixuan, a reporter from Citizen Daily)

Guo Weiwang pointed out that the metauniverse is a hot topic in recent times, and the Chief Executive, He Yicheng, earlier said that the development of the metauniverse should be taken seriously. But most people do not understand the practical significance of the metauniverse. Metaverse is a digital world that combines blockchain technology, social media, online games, virtual reality, augmented reality, virtual currency, and digital assets. This virtual space can be fully utilized by users for interaction. In addition, virtual reality and augmented reality create various sensory elements for this virtual space, which allows users to obtain a more enjoyable experience.

The metauniverse opens up new opportunities for individuals and businesses.

Guo Weiwang introduced the relevant knowledge of the metauniverse to the participants (photographed by Lu Zixuan, a reporter from Citizen Daily)

When introducing various elements in the metauniverse, Guo Weiwang stated that Web 3.0 is an important component of the metauniverse, integrating concepts such as decentralization and blockchain technology. Blockchain is a peer-to-peer network system that uses cryptography and consensus mechanisms to create and store blockchains of huge transaction data. The use of blockchain technology allows both parties to effectively record transactions and permanently verify this transaction. Non-Fungible Token (NFT) will become a means of payment or a means of representing real-world assets in the metauniverse. Online and offline games will be digitized in the metauniverse. Users can invest in in-game assets and sell and trade them in supported markets. 5G technology is also one of the metacosmic elements. 5G is the fifth generation mobile network, with a data transmission rate of about 100 times that of the previous generation 4G networks, faster response time, and broader hardware connectivity capabilities.

He pointed out that the elements of the metauniverse also include virtual currency, augmented reality (AR), virtual reality (VR), and mixed reality (MR). He further explained that in the metauniverse, there will be a shift from using legal tender or paper currency to using digital currency, and platforms within the metauniverse have provided various forms of virtual currency, including Bitcoin, Ethereum, and so on. The so-called augmented reality is the use of various sensory elements (such as sound, images, etc.) to enhance the real world, which can be used by retailers or other companies in the metauniverse to promote business or other services. Virtual reality utilizes technology to create a completely new virtual world or simulation environment that is completely separate from the real world. VR can be applied to education, games, fashion, entertainment, and other fields in the metauniverse. Mixed reality combines AR and VR technology to provide users with a more real-world experience than AR. This technology provides successful training simulations in various fields such as entertainment, design, medical surgery, and military training.

In terms of the characteristics of the metauniverse, Guo Weiwang believes that the Non-Fungible Token can be used to represent virtual real estate in the metauniverse. Users can sell, rent land, build buildings such as stores, and even hold social events in the metauniverse. Since the property owned by users in the metauniverse is stored on the blockchain, it is easy to prove the ownership of such assets by users. In addition, the decentralized financial technology used in the metauniverse can eliminate the fees charged by banks and other financial companies for using their services. Individuals store their money in secure digital wallets, allowing them to transfer funds within minutes. Anyone with an internet connection can use this technology.

Guo Weiwang also introduced some of the leading metacosmic projects in the world, including Decentraland, TheSandbox, Bloktopia, AxieInfinity, and StarAtlas. He introduced that users can complete social interactions, build or create their own NFTs, purchase virtual assets, and so on in these projects.