The crypto world keeps on surprising us. Nowadays we can walk on the beach or sit at home and play blockchain games and earn crypto doing it. Cool. But the most transformative development in blockchain technology will be in the metaverse.
In developing countries such as Venezuela and the Philippines kids play blockchain games such as Axie Infinity and earn enough to support their family. Lifestyle apps are offering move to earn tokens such as Stepn to pays users for walking to improve public health. It is also possible to earn crypto whilst learning about crypto as exchanges reward users for learning about trading on their platform.
But the truly ground-breaking development will be in the metaverse as it can transform traditional education. Traditional educational institutions are buying land in the metaverse and constructing buildings to make sure they are competitive in the metaverse. In the future online education will move into the metaverse and crypto will change the way educational institutions organize and finance education by using the learn to earn method of tokenomics. Confused? Tokenomics is a just a word to describe how a cryptocurrency works and a way to show how it’s valuable. When traditional institutions have established themselves in the metaverse their students will be able to choose specific courses from different schools to hyper-personalize their education. The individual can even choose to study a certain subject and hand-pick the best teachers from different institutions. Students will being able to learn unique skills learnt in faraway places and even earn crypto doing it.
Can student make money whilst studying in the metaverse?
Yes, institutions can use block-chain technology to reward students with NFT’s (non-fungible token) which can be used to purchase items or services in the metaverse. Students can even choose to sell their NFT for ordinary fiat cash to buy pasta and ketchup. Are you unsure what a NFT is? Non-fungible tokens are a financial security that consists of digital data which is stored in a blockchain. A NFT is like proof that someone owns something online and that it has value of some kind.
Conventional barriers of institution-bound education delivery can be broken in the metaverse. Student can jump between different schools as they wish. Gone will be the days with boring power-points presented online by stiff lecturers. The metaverse will offer a learning experience through virtual reality that capture the hearts and minds of young and old in ways we have not yet experienced. Learning in the metaverse will be a realistic immersive experience with considerable social interactions whilst wearing virtual reality glasses. Schools in the metaverse can create different services such as tutoring and interactive examinations through the metaverse. There will be different ways that schools compete in educational market place in the metaverse. Some educational institution may offer a highly flexible curriculum to their students, and some may offer digital assets such as NFT (and other not yet known assets) to reward student for studying.
The full force of tokenomics might even make education free in the future.
One thing is for sure, schools will launch their own crypto currency or asset.
Sure, the metaverse is a buzzword. Personal computers need to be far more powerful before the metaverse will be able to function and used by the average citizen of the world. But hold on tight! The blockchain technology and cryptocurrency, it is seeing a faster growth trajectory than the growth of Internet in the late 1990s. Don’t worry, in real life education will always exist as well, and one may claim that the metaverse is just a sexier version of the internet. Cool. Learning to earn might even be sexy.