Popular Metaverse Decentraland & Adidas Plans With Metaverse Knowledge (2023)

What is Metaverse?

Before understanding what the Metaverse is, it would be helpful for us to understand what it is not. You'll often hear people say that it's an evolved form of virtual reality. But this is not the case as the metaverse is not really limited to the digital world only where the world of virtual reality operates. In fact, it extends beyond that.

Some often say that this is another theme park for the digital space. This is somewhat true again because the metaverse may contain a space that resembles a theme/amusement park. However, the digital theme park concept is limited for what it offers. In that sense, while Metaverse can certainly offer that experience, it's much broader than that.

Some compare the concept of the metaverse to a game, such as Fortnite. And here's where most people find it okay, because a metaverse is (in a way) like entering a new world of gaming like Fortnite. Many of the features of Metaverse, it already offers such as having a consistent identity for different nearby platforms, giving users the ability to be compensated for content, and giving access to many features. However, because it's a "specific" world (read: metaverse), it can't contain the vast expanse of the metaverse. Thus, while Fortnite is certainly conceptually a metaverse, it exists within itself and operates within the boundaries set by its creators.

Popular Metaverse - Decentraland(MANA)

Decentraland is one of the most well-known metaverses existing in the market today. Since its launch in 2016, investment in the Metaverse has been increasing day by day. A significant number of users have been added to the platform within a short time of its launch. Already some big brands have started marketing/advertising their products on this platform.

In short, it is a virtual world built entirely on blockchain. Which is really interesting and completely decentralized. Owners of MANA cryptocurrency can participate in voting events on this platform. Here items like games, clothes and virtual real estate are bought with NFT.

Let's try to understand how it works.

How does Decentraland work?

These two primary tokens, named Metaverse LAND and MANA, use a 'dual-token economy model'. The latter (MANA) is the platform's own token and empowers its owner to vote to participate in the Decentraland DAO.

• MANA: To vote on key decisions, users lock their MANA into the DAO. Therefore, each MANA will count as a single vote on the management proposal. . You can easily earn the token on the Decentraland Marketplace by selling your collected digital items.
• Land: Represents virtual real estate ownership on the platform. This is NFT. This token also gives its owners the power to vote.

Like most metaverses, users of Decentraland can own virtual land, i.e. build, sell, and rent it. You can easily buy land on Decentraland Marketplace.

Adidas Reveals Big Plans on Metaverse

After constant speculation in recent days, Adidas has finally detailed its entry into the metaverse.

The sportswear brand has partnered with Bored Ape Yacht Club, PUNKS Comic and Gmoney NFT. Those involved in the process say: “When you believe that nothing is impossible, and you end up in some strange with new place. … At this point, Adidas, known for celebrating radical new ideas, and the Metaverse are at the cutting edge of creativity. Here Young people are creating a realm parallel to our real world from a largely unknown location.

In explaining its entry into the Metaverse, adidas stated its mission is to "see every inhabitant thrive".

The brand describes Metaverse as a place "where anyone can publish their most original ideas and with their most acceptable proofs. The good thing is, blockchain here means pioneers own a piece of what they create.

There's a lot of interest in what these virtual landscapes are going to offer — as Adidas declares that there's a "world of limitless possibilities."

In a video posted on Twitter, a total of three characters, one from each of the three projects the company has been involved with, are seen flying around the world - and all of them are cut from Adidas gear. Then they land on a neon-lit version of the Adidas company logo in a mountainous area.

More details on what the sportswear brand will bring to Metaverse users will be revealed via the Adidas CONFIRMED app — a promise the company won't miss.