 So the term metaverse has been discussed in crypto circles for a while now and after Zuckerberg's announcement It has been brought to the public's attention Some are skeptical and others are confused about this concept So in this video, we're going to explore the term and try to define it and we'll start by distinguishing between a metaverse with a lowercase m and The metaverse with a capital M So a metaverse lowercase is an online virtual world that allows for multiple purposes Now these metaverses can be used to exhibit art post virtual events make new friends and so much more Now a metaverse is different from a video game in the sense that there is no set Objective or main conflict that needs to be resolved One doesn't complete a metaverse like one completes a game instead one continuously builds a virtual identity interact with others in an online environment a Metaverse can also become a spaceful business as virtual stores can be created and significant deals can't be broken These metaverses need security and transparency and have been made possible Thanks to blockchain technology Blockchains public ledger allows identities to be verified and the immutability of transactions lowers the risk of fraud A leading blockchain technology in the metaverse space is polygon Decentraland the sandbox mega crypto populace Avogaci block topia and many more of the biggest metaverses use polygon because it enjoys the benefits of ethereum Without the high transaction costs Now all these metaverses mentioned and more are part of something bigger which we can define as the metaverse with a capital M Let us now explore what the metaverse is So in a nutshell the metaverse is everything it is a set of all things Now we need the term metaverse because it is different from the more familiar term universe We are currently in a postmodern era where science has defined the universe as only that which is matter If we cannot sense or detect something then it doesn't exist in the universe Now this way of thinking secularized Western society and disenchanted our world view No longer do we consider the spiritual to be of much significance because it isn't made of matter Now this way of thinking is becoming a stumbling block for many when it comes to cryptocurrencies and the value of the virtual world It is given rise to the familiar argument against Bitcoin, but I can't touch it or there isn't anything tangible backing it To them cryptocurrencies cannot be sensed or detected and therefore don't exist in the universe NFTs are an even bigger conundrum to these people Because to them things have to have a physical form to have value To them it is outrageous to suggest that art has transcended the canvas and no longer depends on the materials to exist And if they cannot accept virtual tokens and virtual art then there is little hope for them to accept virtual land as a new asset class Now it would be easy to dismiss Bitcoin, NFTs and virtual land if they didn't have billions of dollars of monthly transactional volume But because of these large sums of money people cannot ignore it Capitalism makes them curious to learn more and it is the reason why the metaverse is such a hot topic of discussion Now the metaverse gives people a structure to understand and accept things that are not only physical It allows them to break free from a purely materialistic way of thinking The metaverse includes the physical world, the spiritual world, the psychological world, the virtual world and all other worlds The metaverse idea will bring many old naysayers of crypto into the ecosystem They'll start by looking at virtual art and exploring online environments Once immense in the virtual world they will start to see its value and by accepting the idea of the metaverse They'll be able to embrace things that are beyond physical matter So the metaverse is the philosophy that will bring the rest of the world to crypto