The Future of Virtual Reality and Cryptocurrencies

Both virtual reality and cryptocurrencies have been gaining popularity in recent years, and show signs of being the next big thing in the future of the entertainment industry. While both of these technologies have been around for some years, it is only recently that virtual reality prices have begun to drop and cryptocurrencies have begun to catch on as a viable form of exchange. Chances are, as these technologies become common household names, people will begin to spend larger portions of their lives in virtual reality and those who spend some time trying to imagine what that will look like stand to profit a good deal as these changes occur.

Cryptocurrencies and MetaMask

It’s important to note that this article really isn’t describing some kind of utopian distant future; in reality, virtual and augmented reality is already here and it requires new ways of thinking about both currency and the world in general. For example, a Google Chrome extension known as MetaMask is already available and is quickly catching on. MetaMask works sort of like an online wallet interface, allowing browsers to display their current monetary standing on their screen while they browse to help them make responsible online shopping choices.

This may not sound like futuristic innovation, but it is one important step toward the adoption of cryptocurrency as a viable means of performing online transactions, which is already paving the way for the use of this technology as virtual reality develops further. It’s not the only example of cryptocurrency being used in virtual reality’s infancy, though.

VibeHub Marketplace

VibeHub is an online marketplace that allows users to buy and sell virtual reality sessions using cryptocurrency. This represents an incredible step in the direction of a comprehensive change in how users think about virtual reality and social communication alike, as it allows users to experience things like meet and greets with their favorite artists, live music concerts, or even learning new skills from the comfort of their homes using virtual reality technologies. Like virtual reality more generally, this platform is still in its infancy and the potential for future development is almost limitless.

VibeHub and Cryptocurrency

VibeHub uses its own currency based on the block-chain technologies behind other cryptocurrencies such as Bitcoin to enable virtual trading in real-time. This web platform is compatible with MetaMask and Myst, allowing those who are unfamiliar with cryptocurrencies to access VibeHub as well. However, as public confidence in cryptocurrency continues to rise, eventually, the forms of currency that are currently most commonly in use could easily become antiquated and unnecessary.

The Future of Virtual Reality

As the world’s populations continue to skyrocket while its resources become simultaneously depleted, it is hard to imagine everyone in the world having access to all of the physical things that they desire. However, virtual reality might someday offer a virtual alternative in which users are able to have the virtual houses, cars, pets, and material possessions of their dreams with no need to continue consuming valuable natural resources to have and maintain them. Of course, this is only one potential future for those technologies currently being developed, but it is admittedly an appealing one.

The Winding Road Toward Progress

It would be a mistake to believe that these two examples of virtual reality backed by cryptocurrencies represent any kind of end-point for either of these technologies. In fact, both block-chain technologies and virtual reality are still in their infancy, and chances are the road to progress will be long and winding. There are a wide variety of possible outcomes for these technological innovations, but with any luck, the end result will be a fully-integrated virtual reality that is decentralized and accessible to all.

Neal Walters

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Neal Walters