The Metaverse is a virtual world that is the culmination of the various technologies we use every day. Later on, when the Metaverse becomes a reality, people will live, work and play inside this world and share experiences together through avatars. In the promised virtual world, people will be able to do many things. People will be able to buy virtual goods and services within the Metaverse.
But how would they pay for it? Since it's a virtual world, you can't give physical cash or checks or credit cards. Does this mean the Metaverse will support Cryptocurrency? Will there be a dedicated Metaverse Crypto? Let's find out!
Does the Metaverse Support Cryptocurrency?
This is a question for the future. Because the Metaverse hasn't been built yet. But, we can assume that the Metaverse will support cryptocurrency.
Inevitably, there will be the need for virtual money to buy and sell goods and services in the metaverse. So, it's only natural for the Metaverse to support crypto because it's a virtual world and you can't really use physical cash or checks or credit cards. With the integration of cryptocurrency, Metaverse will become a more complete virtual world.
Will there be a Metaverse Coin?
Many companies, such as Decentraland and The Sandbox, have created virtual worlds integrating cryptocurrencies that enable users to build virtual structures like theme parks and casinos and to monetize them. In Decentraland, the currency used is called MANA, and there are even casinos in Decentraland where you can gamble in MANA.
Accordingly, we can expect that the Metaverse will also have its own cryptocurrency (Metaverse Coin) that people will use to pay for goods and services. This metaverse cryptocurrency will be the backbone of the Metaverse economy and it will be the only currency accepted in the Metaverse.
As of yet, there is no official word about the Metaverse Coin. It is also possible that the Metaverse could support the exchange of existing cryptocurrencies like Bitcoin, Ethereum, Litecoin, etc. It is very likely, however, that the Metaverse will have a native cryptocurrency.