Although the metaverses concept has existed for over a couple of decades now, the idea found its practical implementation only after the pandemic break. However, most people still don’t know what the word means.
Microsoft, Meta, and other tech companies have already been developing various metaverses. Numerous crypto projects and exchanges are involved in building their own metaverses, but with limited functions. We talked to Volodymyr Nosov, the CEO of the biggest European crypto exchange, WhiteBIT, and found out the reasons for the hype around metaverses, and what innovations stand behind the concept.
The first Volodymyr Nosov’s comment was about a metaverse concept itself, “a metaverse is a virtual space where people can interact with each other through their digital selves 24/7. But I can’t tell that current metaverses function that way now. There are many virtual worlds, but the word “verse” comprises a much bigger picture and possibilities.” Nosov also added: “Cryptocurrency-related companies, including WhiteBIT, support the idea of metaverses, where you can do much more than only exchange ETH to EUR assets. Yet, it is only the beginning of something big that we don’t fully see now. I think, eventually, all these realities will unite in one big virtual world, which will be the next generation of today’s attempts and visions presented by multiple companies.”
We also asked Volodymyr about the possibilities a metaverse should give to its users. The answer was the following: “Infinite possibilities. Imagine you take your device or put on VR glasses and enter the virtual space where you can shop, earn, play, watch films, and travel. You can do almost anything. My words sound like a dream of a space travel, but it’s happening now thanks to dreamers who are not afraid of putting an effort into such things.”
Volodymyr Nosov thinks the metaverse will be like the Internet, “created for other purposes, it will end up in our everyday lives.” Nosov continued, “The WhiteBIT company fully supports the idea of creating metaverses. My team and I think the implementation of metaverses is impossible without blockchain. And thanks to it, we will soon see not only WhiteBIT, but many other crypto exchanges and companies operating in the metaverses.”
How Do Metaverses Change Our Today’s Lives?’
“Despite the success of some products, these are only the first steps. People are also getting acquainted with the concept that will change all of their lives one day. Today, metaverses allow buying real estate, conducting live concerts, shopping, visiting museums, and earning money.”
WhiteBIT has also opened the exchange’s office in the TCG metaverse.” Volodymyr Nosov believes that people are now bored. They look for new opportunities to have fun and live, it’s not merely about earning digital assets.”
“It is inevitable that the number of people interested in metaverses will increase. It is a buzzword creating hype for a reason: so many projects have already proven that meta spaces are going to change the world of virtual interactions for the better.”
We also asked Nosov about the connection between virtual universes and blockchain. The head of the WhiteBIT exchange smiled and said: “People are tired of the current corruption level. I’m sure that they will demand blockchain integration, as this is a highly secured and transparent system. Even if we ignore this, the fact is that blockchain-based digital assets ideally fit the economy of any digital world. WhiteBIT and I are doing everything to demonstrate that the mere fact that digital currencies already exist and bring so much good to the world proves the potential of blockchain. The same is relevant for metaverses: they might be seen as an invention for simple entertainment, but the key to its further application is intention. Intention is the key.”
Volodymyr Nosov said that Ukraine is a vital part of a crypto society. “My native city of Kharkiv and the whole Ukraine continue working on blockchain adoption at a legislative level. I am convinced that Ukraine will greatly contribute to the development of metaverses, and it already is. Ukrainian specialists from Kharkiv, Kyiv, Lviv, and many other big and small Ukrainian cities are among the leaders in the industry, and I’m so proud of it. WhiteBIT and our native country keep pace with the times.”
What Are The Next Steps of Metaverse Development?
The CEO of the WhiteBIT exchange believes that metaverses have infinite potential, but there are also some problems. “The first issue is a wide variety of existing products. Users are searching for one simple solution. This is how they will choose the metaverses. Users will wait for one big virtual world, not hundreds of small ‘verses’. But, now, there are no unified rules on which such a metaverse can base. Today’s alternatives can’t cater to all users’ needs. And the process of scaling takes a lot of time. For now, it’s worth waiting to see what happens next.”
We last asked if the WhiteBIT exchange had planned to create its own metaverse. But Volodymyr Nosov answered that WhiteBIT had no such intentions and that “we’ll see with time.”
We remind you that WhiteBIT is a highly secured crypto exchange originating in Kharkiv, Ukraine. The company offers all popular digital currencies and over 20 fiat currencies. Led by Volodymyr Nosov, the European cryptocurrency exchange WhiteBIT provides customers with many crypto trading services, including margin and futures trading, tools for passive income with lucrative interest rates, and much more. The exchange is actively growing and fully implements the AML policy provisions.