The concept of the Metaverse first appeared in the 1992 science fiction novel Snow Crash by Neal Stephenson. It is a virtual world detached from reality, yet it operates under specific economic rules and social interaction methods, much like the real world.
In the movie Ready Player One, the Metaverse is depicted more concretely. In this created virtual world, people can embody game characters and "live" according to the game's rules, socializing with anyone. Although the Metaverse reflects many aspects of the real world's order and rules, it still has immense "malleability." Through careful shaping and precise control, we can gain rich experiences in the virtual world that are difficult to achieve in reality, infinitely expanding and broadening people's living spaces and life experiences. This not only enhances the Metaverse's appeal but also deepens people's tangible connection to it.
Since the Metaverse aims to construct a virtual world that simulates and surpasses reality, it inevitably encompasses many application fields. Roblox, the "first Metaverse stock," proposed eight key elements: identity, friends, immersion, low latency, diversity, accessibility, an economic system, and civilization—with civilization being the ultimate direction of development. Beyond these elemental attributes, the Metaverse includes diverse applications covering categories like artificial intelligence and social communication, which can be broadly summarized into three modules: economy, entertainment, and social interaction.
Economy: DeFi, short for decentralized finance, originated from the native crypto community. It is essentially a financial system based on blockchain technology, eliminating the need for traditional intermediaries in transactions. Since 2020, DeFi has experienced explosive growth, with its various sectors maintaining high popularity in the crypto market. DeFi has become a crucial part of the crypto market, now widely applied in lending, payments, decentralized derivative exchanges, and more, with a market capitalization exceeding $67.7 billion.
Entertainment: The two most important applications in the entertainment sector are NFTs and blockchain games. NFTs represent a virtual extension of human culture, with diverse artworks like audio and images being vital components of civilization. NFT series like Cryptopunks and Loot have been wildly popular, with floor prices repeatedly hitting new highs. Blockchain games, with their inherent appeal and profit-generating properties, have attracted significant attention from capital and users. Games like Axie Infinity have gained remarkable popularity in the market. According to Token Terminal, Axie's daily revenue has repeatedly surpassed that of Honor of Kings. As of this writing, its peak single-day revenue exceeded $17.54 million.
Social Interaction: The economy and entertainment sectors of the Metaverse have seen rapid development and market recognition, with applications flourishing across public blockchain ecosystems. But what about social interaction, another critical sector of the Metaverse? Will it become the next investment hotspot?
