Blockchain

the-multiverse:-what-it-is,-its-benefits,-and-its-role-in-helping-build-the-metaverse

The Multiverse: What It Is, Its Benefits, and Its Role in Helping Build the Metaverse

The metaverse continues to gain popularity worldwide. Though it depends on how you define the metaverse, it’s estimated that it has over 400 million active users monthly, and the global metaverse market is projected to surpass USD 1.3 trillion by 2030.

While the metaverse is a relatively established concept, a comprehensive idea of the metaverse is slowly gaining traction: the multiverse. With the rapid and constant change that the world is experiencing due to continuous technological innovations, how we communicate and access information has dramatically changed over the years.

For this article, we talked with Ronny Tome, the founder of a blockchain company Ducatus Global, to help us shed more light on the multiverse, what it is, and what it will play in bringing the metaverse to life.

What Is the Multiverse?

Before defining what the multiverse is, let’s do a quick review of what the metaverse is. As defined by Tome, a metaverse is a shared space that’s created when physical and virtual realities come together.

It is an immersive environment that goes beyond the traditional concept of virtual reality as entertainment, the metaverse connects anyone – anywhere and anytime – with others in a virtual environment that offers possibilities for social interaction, community, business, and more. Today and arguably the future’s metaverse is believed to be the next evolution of the Internet,” he said.

Meanwhile, the multiverse “is the home of multiple metaverses,” as Tome puts it. In the multiverse, users can discover and experiences different metaverses all at once, even if the diverse ecosystems are disparate. To expand on the concept of the multiverse, it’s a virtual space where users can also interact with each other.

Multiverse vs. Metaverse: What Are Their Differences? 

Some of the key differences between the metaverse and the multiverse are as follows, according to LeewayHertz:

  • The metaverse is one shared virtual universe, while the multiverse houses multiple virtual universes.
  • The metaverse is interconnected, while the multiverse contains several disparate ecosystems.
  • In the metaverse, users can have ownership over their digital assets, whereas, in the multiverse, users won’t be able to own their investments in separate ecosystems.

However, while they may be two different things, Tome said in the interview that the metaverse and the multiverse will complement each other, meaning there’s no competition between these virtual universes.

Tome then introduced the idea of the GOLD Multiverse, Ducatus Global’s vision of the multiverse and part of the Ducatus Ecosystem, which allows users to utilize their rewards and tokens in the metaverse and real life. Think of it as a blockchain with multiple layers comprised of different universes where users can do activities like shopping for clothing in a virtual world and then visiting a garden in real life, all of which are connected to the metaverse.

Benefits of the GOLD Multiverse

So, how can organizations benefit from the multiverse?

According to Tome, the GOLD Multiverse opens up more opportunities for users.

In the GOLD Multiverse, there are various metaverses, which we call worlds, that are dedicated to different values, interests, and persuasions. There’s a world of sustainability in Garden of Life, a world of heritage and tradition with the Queen Margherita Napoli, a world of health and fitness in META Gym, and more,” he said.

Tome goes on to say that, for instance, if someone is interested in bodybuilding, then they’d go to the META Gym. However, before they can get there, they’d have to go through what he calls a “gateway,” where they’ll be able to discover other worlds, which can potentially hold new opportunities for them.

For organizations planning on venturing into the multiverse, Tome suggests that it’s best to be clear about their objectives and that they should “have the tenacity to fulfill these objectives.”

For ordinary users, the GOLD Multiverse also holds several benefits, according to Tome, such as:

Accessibility

Users can support their preferred advocacies regardless of their location.

Connection

In the GOLD Multiverse, users (organizations and individuals) can freely interact with each other without any limitations of borders or influence.

Education

Users can enjoy limitless learning. They can still access new information, skills, and more with minimal resources.

Community

In the GOLD Multiverse, users can unite and bond over shared interests.

Financial Opportunities

Each metaverse offers various chances to grow financially, either by receiving rewards or making use of the skills developed through learning experiences or by promoting their brands to users,” said Tome.

The Role of the Multiverse in Bringing the Metaverse to Life

Our vision for GOLD Multiverse is shaped by the values of openness and inclusivity. We believe that by serving as a gateway, the GOLD Multiverse magnifies the potential of each metaverse. Potential to be seen more, experienced more, and supported by more people,” said Tome. “With a single entry through this gateway, you will immediately be made aware of the existence of the various worlds that you can discover.”

However, while the concept of the multiverse seems promising, some challenges remain. Tome notes that these challenges, such as glitches and downtime, are commonly faced by anyone going online.

Nothing is certain. But if we are committed to our goals and objectives, the work will never stop. Technology is never constant, it’s always evolving, improving, striving to be better, and always looking for the next best thing,” Tome remarked.

Tome adds that the mission of the GOLD Multiverse is to help different projects proceed with the development of their respective metaverses.

Our role extends beyond constructing or designing the virtual space, we also offer our expertise in making sure that objectives and goals are met,” he shared. When asked if there are any real-world rules that govern the multiverse, Tome shared that if these refer to government regulations, they’re not aware of any such practices.

As a company though, we abide by strict professional standards in the way we do business and our work in general. We practice due diligence and vet the projects that we allow into our blockchain and the multiverse – this is our very own GOLD standard,” said Tome.

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10-top-use-cases-of-blockchain-in-virtual-reality

10 Top Use Cases of Blockchain in Virtual Reality

While talking about blockchain technology, we should keep in mind that this is a new and still evolving industry. There are several use cases of blockchain in different industries, including virtual reality.

Here are the top use cases of blockchain in VR.

1. Decentralized Asset Ownership

Blockchain can be used to verify and track the ownership of virtual assets in VR, making it impossible for fraudulent transactions to occur, one example is DeFi (Decentralized Finance) in which there is no threat of fraud or theft as DeFi offers an emerging model for organizing and enabling cryptocurrency-based transactions without relying on intermediaries or traditional banks.

2. VR Advertising and Sponsorship

Blockchain and VR can work together to verify sponsorship and verify traffic, promoting transparency and trust between brands and consumers. Through blockchain, advertising and sponsorship in virtual reality can be made more secure and reliable.

By using blockchain-based smart contracts, brands and advertisers can ensure that their ads are displayed to their target audience in the virtual reality environment. This, in turn, can increase the relevance of the ads and improve the ROI for the advertisers.

Additionally, blockchain can also help to track and verify the traffic generated by the ads. By recording each interaction with the ad on the blockchain, advertisers can get a better understanding of the effectiveness of their VR advertising campaigns. This level of transparency can help to build trust between the brand and the consumer.

Blockchain can also be used to prevent fraudulent advertising practices. By using a decentralized system that relies on a consensus mechanism, blockchain ensures that the data is secure and tamper-proof. This can prevent scenarios where advertisers pay for fake traffic generated by bots or other illegitimate means.

In conclusion, the use of blockchain technology in virtual reality advertising and sponsorship can offer numerous benefits to both brands and consumers. By increasing transparency, security, and reliability, blockchain can help to build trust and improve the overall experience for everyone involved.

3. Secure VR Marketplaces

Decentralized marketplaces on the blockchain can be used to facilitate secure transactions of virtual goods and services, reducing fraud and ensuring safe transactions.

4. Virtual Reality Gaming

Blockchain-based incentives may be utilized to incentivize gamers to contribute to better gameplay, thus increasing engagement in VR gaming environments.

5. Rights Management

Another potential use case is the registration of copyright, publisher, and distribution rights to control the distribution and licensing of virtual reality content, ensuring the creators of content receive fair compensation.

6. Virtual Real Estate

With the increasing popularity of virtual worlds, blockchain technology can be utilized to enable the ownership and trading of virtual real estate. This allows for users to build and own property in virtual worlds and potentially earn revenue from it.

7. Virtual Currency

Virtual currencies used in VR environments can also benefit from blockchain technology. Blockchain can enable secure, transparent, and decentralized transactions for virtual reality commerce, as well as provide a more stable and reliable virtual currency system.

8. Identity Management

Blockchain technology can be used to manage and protect user identities in virtual environments, providing a more secure and trustworthy system for verification and authentication.

9. Cross-Platform Interoperability

Blockchain technology can enable interoperability between different VR platforms, allowing users to seamlessly interact with each other and access content across different platforms.

10. Decentralized Autonomous Organizations (DAOs)

Using blockchain technology, DAOs can be created in virtual reality environments to create decentralized decision-making and governance structures. This can enable community-driven development and decision-making in virtual worlds.

Conclusion

The use cases of blockchain in virtual reality demonstrate the potential for these two emerging technologies to work together and create innovative solutions for a variety of industries.

Blockchain technology can provide an additional layer of security and transparency to the virtual world, enabling safer transactions and the protection of users’ personal information.

Guest Post


About the Guest Author(s)

Amir Ashraf

Amir Ashraf

Amir is an expert editor and writer in the blockchain industry. After completing his studies, he started exploring different aspects of the blockchain industry and took the initiative to make things easy to understand by writing about different techniques that are used in blockchain and still working on different aspects as this is a developing field.

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Tech’s role in the quest for climate justice: What not to miss at TNW Conference

Tech’s role in the quest for climate justice: What not to miss at TNW Conference

Linnea Ahlgren

Story by

Linnea Ahlgren

Award-winning innovators Caroline Lair and Lucia Gallardo will be speaking at TNW Conference, which takes place on June 15 & 16 in Amsterdam. If you want to experience the event (and say hi to our editorial team!), we’ve got something special for our loyal readers. Use the promo code READ-TNW-25 and get a 25% discount on your business pass for TNW Conference. See you in Amsterdam!

Social inequality and climate risk have become central to understanding what will drive innovation – and investment – for the future. On day two of TNW Conference, Caroline Lair, founder of startup and scaleup communities The Good AI and Women in AI, and Lucia Gallardo, founder and CEO of impact innovation “socio-technological experimentation lab” Emerge, will be on the Growth Quarters stage for a session titled Technology-Driven Climate Justice.” 

The climate crisis is itself the result of a deeply embedded and systemic exploitation of nature and people in the name of profit. Its impact is already being felt disproportionately over the world, with severe heat waves, droughts, and entire nations disappearing below sea level. What’s more, the people worst affected are those who have contributed little to the greenhouse gas emissions driving global warming.

Climate justice is the idea that climate change is not just an environmental but also a social justice issue, and aims to ensure that the transition to a low-carbon economy is equitable and benefits everyone. Lair and Gallardo will specifically speak about how technologies such as AI, blockchain, and Web3 can play a crucial role in addressing these issues. 

AI for good

Artificial intelligence can be applied in the quest for climate justice in several ways, given that it is implemented in a way that ensures transparency, accountability, and fairness. These include data analysis and prediction, discovering patterns and informing policies, as well as evaluating their effectiveness. 

It can also enhance climate modelling capabilities, crucial for developing adaptation strategies. Furthermore, AI-powered technologies can monitor, for instance, weather systems with real-time data and also optimise resource allocation and energy distribution.

Reimagining value

Emerge’s objective is to “reimagine impact innovation with regenerative monetisation models.” Regenerative finance goes beyond traditional models that focus on profit, taking into account broader social, environmental, and economic impacts. 

Blockchain technology can, for instance, offer transparency for transactions, ensuring that funds are indeed directed to regenerative investments. It can also tokenise regenerative assets such as renewable energy installations, sustainable agriculture initiatives, or ecosystem restoration projects, representing them as digital tokens and making them more accessible to a broader range of investors. 

Meanwhile, in the words of Gallardo, “Integrating crypto into existing ecological initiatives doesn’t automatically mean it is applied regenerative finance. We must be intentional about how we’re reimagining value.”

Reclaiming an equitable future

Why am I looking forward to this session? The theme of this year’s TNW Conference is “Reclaim The Future”. In all honesty, I belong to a generation that, while I hopefully have several decades more of on-earth experience ahead of me, will most likely not have to deal with full-on dystopian scenarios, battling to survive climate catastrophe.

I am also privileged in terms of geographical location and socioeconomic status not to have to worry about immediate drought and famine. (Flooding may be another matter, but as someone said when convincing me to move to Amsterdam – “wouldn’t you prefer to live in a place that is already used to keeping water out?”) 

However, this does not mean that we who enjoy such privileges get to simply shrug our shoulders and carry on indulging in business as usual. TNW has always been about the good technology can do in the world. And what is better than employing it in service of one of the greatest challenges of our time?