Metaverse – this concept has appeared in our imagination for nearly 30 years, but only recently has it truly become a hot topic. Why? When Mark Zuckerberg decided to rename Facebook to Meta and Epic Games raised $1 billion to turn Fortnite into part of the metaverse, people began to realize this is no longer just a science fiction idea.

So, what exactly is the metaverse? Simply put, it is a virtual world built from the Internet and technologies like VR, AR. In it, you can interact, create, and own assets just like in the real world. Imagine Ready Player One – that is a perfect example of the metaverse people envision.

Interestingly, the metaverse is not a new idea. The term first appeared in Neal Stephenson’s science fiction novel 'Snow Crash' in 1992. The author described it as a cyberpunk space where people can connect with each other. The word 'metaverse' combines 'meta' (beyond) and 'verse' (universe) – meaning a parallel world outside our reality.

But why has the metaverse become popular now? In my opinion, it fulfills a deep human need – exploring beyond limits. The COVID-19 pandemic also accelerated this development. When people couldn’t meet face-to-face, the metaverse became an ideal place for interaction. Additionally, with technological advancements, we can create near-real experiences without waiting for hardware technology to fully mature.

The main features of the metaverse include: sustainability (continuous operation), immersion (realistic experience), openness (limitless creativity), and its own economic system. It is built on four layers – the foundational Internet layer, the infrastructure layer (hardware + technologies like blockchain, AI), the content layer (games, applications), and finally the true metaverse layer when all components are sufficiently developed.

Many projects have already started building the metaverse. Minecraft, GTA V, Roblox are traditional examples. In the crypto space, Decentraland and The Sandbox allow users to own land as NFTs and build their own worlds. However, current applications are still limited – experiences are not truly realistic, and interactions between platforms remain very restricted.

The potential scale of the metaverse is enormous. According to LD Capital, this industry includes two main components: hardware infrastructure (reached about $862 billion in 2020 with a growth rate of 9.4% per year) and metaverse content (around $170 billion currently). As augmented reality technologies become widely adopted, this scale could surpass trillions of dollars.

But why is blockchain important for the metaverse? Current platforms like Facebook, Fortnite, Roblox have issues: limited interoperability between platforms, virtual assets are not truly owned by you (they can be lost if the company changes policies), and you don’t have real control. Blockchain solves all these problems. It enables scalability (blockchains like Solana, Avalanche, Polkadot have addressed speed issues), cross-chain interactions, true ownership via NFTs, and high security. DeFi also provides a flexible digital economy system for the metaverse.

To build a truly crypto-based metaverse, three factors are needed: (1) blockchain optimized for high scalability, low fees, fast speed – such as Solana, Mina, Avalanche, Polygon, Cosmos, NEAR, Flow, Theta; (2) dApps serving the metaverse – gaming platforms, NFT marketplaces, DeFi; (3) cross-chain technology to connect different ecosystems.

Currently, although major tech companies have begun investing in the metaverse, it remains a concept for the future rather than an explosion. The VR market in 2021 was only $22 billion, but is projected to grow at 18% annually, reaching $70 billion by 2028. VR devices are still expensive and not widely adopted. Current metaverse content also isn’t as engaging as traditional games.

Where are the investment opportunities? Instead of directly investing in current metaverse projects (which are not yet compelling enough), you can look for opportunities in foundational blockchain infrastructure platforms, DeFi applications, NFT marketplaces, or cross-chain technologies. As tech giants continue to share information about the metaverse, smaller waves will emerge. And when the infrastructure and content mature, a real boom will occur.

In summary, the metaverse is the future, but that future is still some distance away. However, with the participation of tech giants and blockchain advancements, we have every reason to be optimistic about its potential. For now, it’s crucial to monitor technological and infrastructural developments rather than rushing into investments in immature metaverse projects.