NFTs are cryptographic assets on blockchain having unique identification codes and metadata that distinguish them from each other. The difference between them and cryptocurrency is that they cannot be traded or exchanged at equivalency. The most popular example of NFT is crypto kitties, launched in 2017 using the Ethereum blockchain.
Published in Chapter:
Metaverse: Interdependent Architecture and Applications
Richa Gupta (Keshav Mahavidyalaya, University of Delhi, India) and
Vinita Jindal (Keshav Mahavidyalaya, University of Delhi, India)
Copyright: © 2023
|Pages: 28
DOI: 10.4018/978-1-6684-7348-1.ch005
Abstract
Metaverse is the future of internet and an amalgamation of VR, AR, blockchain technology, AI, and 5G, and beyond. Metaverse can be seen as a self-sustaining system with its economy, structure, and trade of virtual items. Currently, there is no common platform for this in a decentralized manner. Thus, there is a need for an interdependent architecture that can provide interaction amongst layers. This chapter focuses on a seven-layered architecture that is simple to comprehend theoretically but cannot represent the true essence of all aspects of Metaverse. Hence, a novel interdependent architecture that includes physical and virtual world interaction is proposed in this chapter. Next, some potential applications and services of Metaverse are discussed. Later, two case studies, that of a virtual city and a virtual university campus using Metaverse, were analyzed based on the proposed architecture. Finally, the chapter is concluded with the open issues and challenges faced while dealing with Metaverse.