- Metaverse hailed as the future of the internet
- Theta Network holds the key to Metaverse Development
Welcome to Metaverse—deemed as the next big thing and the future of the internet. The term has created a massive buzz in the mainstream media that even Facebook (NASDAQ:FB) has rebranded itself to embrace the futuristic notion.
But what is metaverse exactly? It’s a concept that visualizes an online platform where users can virtually interact and communicate with another. Think of something similar to Zoom or Facetime, but instead of seeing them through a screen, you’ll see them. It can be the improved version of Virtual Reality (VR).
The idea came from Neal Stephenson’s 1992 cyberpunk novel called Snow Crash. Based on the book, metaverse is a shared imaginary space available to the public over the worldwide fiber-optics network. This inspired games like Second Life, which became a hit in the early 2000s.
Since then, the blockchain space has been eyeing metaverse for some time now. Just like in cryptocurrency, blockchain allows metaverses to be more decentralized with their transactions.
As metaverses and metaverse-based events continue to soar, Theta poses as the primary tool in powering them across the data ecosystem. Theta’s significant number of concurrent users is an ideal fit for peer-to-peer (P2P) video and information delivery.
The growth of the Theta ecosystem is one that never stops. Over the past years, they have developed technologies that are the backbone of the metaverses being created today. Thus making Theta a critical tool in metaverse development.
Just last month, Theta, together with Decentral games, hosted a metaverse nightclub. They partnered with one of the most famous nightclubs in the world, Amnesia Ibiza from Spain. The virtual music festival featured well-known international DJs like Yves V, Benny Benassi, and Paul Van Dyk.
Upcoming virtual live events can further explore this idea and use P2P distribution. In that way, people can earn TFUEL and have fun at the same time. All these just by attending the party and sharing their bandwidth.
Another thing to mention, Theta has a patented NFT DRM technology that will be incorporated into the ThetaPass ticketing system. This way, people can use NFTs as their custom tickets to get into exclusive virtual live events.
As the end for innovations remains unseen, Theta continues its pursuit of technological development. With this, Theta will be the key to unlocking the full potential of metaverse, the future virtual world.