Metaverse For Dummies Cheat Sheet

Metaverse platforms

Here are some popular metaverse platforms worth checking out:

• Decentraland: Decentraland is one of the first metaverse platforms. Not only can you create your own world by purchasing a parcel of virtual land, but you can also visit one of the many virtual places that have been developed on it.
• Horizon Worlds: Launched by Meta, Horizon worlds offers a host of games and activities that complement its hardware product, the Meta Quest series of virtual reality (VR) headsets.
• Roblox: Roblox is a gaming platform where you have an avatar and engage in different activities and games.
• The Sandbox: Similar to Decentraland, the Sandbox is a popular metaverse platform, where users can experience worlds created by others and build their own worlds.
• Somnium Space: Somnium Space is one of the first metaverse platforms. It offers the ability to purchase land and build a property on it. You can also meet other people, engage in games, and attend events.

Metaverse headsets

To get the best experience in the metaverse, a VR headset is recommended. Some popular ones include the following.

• HoloLens 2: The HoloLens 2 is an improved successor to Microsoft’s powerful HoloLens headset. Its new carbon-fiber build makes it comfortable, lightweight, and easier to adjust. The field of view is also a great improvement from the original, and there have been some improvements when it comes to its functionality, including a smart new interface that makes the HoloLens 2 very easy to operate.
  • Pros: Extremely high resolution and suitable for augmented reality.
  • Cons: Very expensive.
• Meta Quest 2 (only works with Horizon Worlds): The Meta Quest 2 (formerly known as Oculus Quest 2) is lightweight and provides an excellent resolution. It is wire-free, is easy to set up and use, and has ease of movement. It’s also an affordable headset, given that you don’t need a computer or gaming console to use it. However, it can still be connected to a computer wirelessly or with a single USB-C cable.
  • Pros: Great entry-level headset with a reasonable price.
  • Cons: Mid-tier in quality and overall resolution with limited cross-metaverse compatibility.
• Sony PlayStation VR (available in 2023): With the highly anticipated PlayStation VR 2, those with a PlayStation 5 will have a chance to get their hands on a more sophisticated headset with a new game library. The PlayStation VR works great with PlayStation 5, but it needs to be connected with a breakout box full of wires. For it to work, it also requires, for some games, outdated PlayStation Move controllers and a camera, in addition to a camera adapter.
  • Pros: Great quality and reasonably priced.
  • Cons: Works only with Sony PlayStation.
• Vive Cosmos Elite: The Cosmos Elite has almost the same features as the Cosmos has, with the first controllers and first-generation base stations. The notable difference is an extra faceplate attached to the headset. The faceplate allows users to benefit from extra-accurate tracking through a built-in six-camera setup.
  • Pros: Good-quality construction and overall resolution.
  • Cons: Could be improved when it comes to user comfort level.
• Valve Index: The headset comes with a complete kit, two controllers, wall-mounting hardware, and two 2.0 base stations, which come at the best value for VR first-timers.
  • Pros: Great quality and overall construction.
  • Cons: Mid-tier price, slightly expensive.

Crypto wallets for the metaverse

In order to connect your metaverse account to your real-world money account and convert your money into a metaverse usable currency, you need a crypto wallet. A wallet forms a connection between your real account and a metaverse platform.

Crypto wallets are different from a cryptocurrency exchange, which is used to buy or sell a cryptocurrency. You need your wallet to buy crypto from an exchange and then use it on your preferred metaverse platform to buy a digital asset, such as a nonfungible token, or NFT (a digitally created asset that is connected to a blockchain, giving it a unique identity and features of being incorruptible, verifiable, and perpetual).

There were more than 100 crypto wallets as of 2022. Some popular metaverse wallets include the following:

• Bitski: Bitski is a unique wallet that is hosted on a server. It uses single sign-on (SSO), which means you can use your email address to login in to the wallet. If you lose your password, you can easily reset it. The Bitski wallet can be used to purchase NFTs. Because Bitski is a hosted solution, it has the risk of being hacked if the server is hacked.
  • Pros: Single sign-on. Crypto can be recovered if credentials are lost.
  • Cons: Hosted on a server so risky if the servers are hacked.
• Coinbase Wallet: Coinbase Wallet is a leading cryptocurrency wallet. It currently supports credit and debit cards in more than 90 countries worldwide. This means you can fund your Coinbase Wallet directly from your bank and be in the metaverse in minutes. Typically, new accounts go through a verification process that may take a few hours to a few days.
  • Pros: Widely accepted and integrated with financial institutions.
  • Cons: Credential verification takes a few days.
• Coinomi: Coinomi is a multi-platform cryptocurrency wallet that includes desktop and mobile options. It supports more than 1,500 cryptocurrencies, meaning you can buy and sell these currencies in the wallet. The wallet also supports more than 125 blockchains, which means assets based on these blockchains are accessible to users. The wallet is available in more than 25 languages and is anonymous. Users don’t have to undergo a lengthy verification process to add funds — the wallet is one of the easiest ones to set up.
  • Pros: Good custodial wallet that can securely store crypto on your computer.
  • Cons: Has a history of been hacked, although vulnerabilities have been removed.
• Enjin Wallet: The Enjin Wallet is a popular crypto wallet commonly used for storing Ethereum, Bitcoin, Litecoin, and a variety of other tokens. Users are able to trade more than 100 different cryptocurrencies with the Enjin Wallet.
  • Pros: Compatible with a lot of cryptos; very secure.
  • Cons: Limited availability; may not be available in every country or region.
• Fortmatic: The Fortmatic Wallet is different from other traditional crypto wallets. It can be used to collect tokens and dApps (applications that run on a blockchain and can offer services such as decentralized finance) through a user’s Ethereum address. The wallet utilizes the user’s mobile phone number or email address for validation rather than a web browser.
  • Pros: Easy to manage.
  • Cons: Does not work with all cryptocurrencies; stored on the cloud.
• Glow: The Glow Wallet is a Solana cryptocurrency. It’s the only token that works exclusively with Solana. Glow is available on popular web browsers and has iOS and Google Store apps. The wallet has been created to specifically make buying Solana-based NFTs easier.
  • Pros: Great user experience and visual design.
  • Cons: Only works with Solana.
• Math Wallet: Math Wallet is a new cryptocurrency wallet that offers multi-platform functionality and supports tokens across more than 100 blockchains. Math Wallet is available as an iOS, Android, or Windows app. It also has Web 3.0 support, enabling users to purchase cryptocurrencies directly in the wallet rather than going to a crypto exchange. Users are able to see the transaction cost before every transaction is conducted.
  • Pros: Good wallet solution overall and compatible with many cryptocurrencies.
  • Cons: Weak customer service; not very stable.
• MetaMask: MetaMask is a way to access blockchain applications such as dApps. MetaMask enables you to buy crypto tokens or even exchange them with other blockchain apps across decentralized platforms in the metaverse. The wallet offers a high level of data ownership because users manage who they share information with.
  • Pros: High privacy.
  • Cons: Crypto can be lost if wallet credentials are lost.
• Venly: Venly provides white-label custody wallet services. This means you can incorporate the Venly wallet solutions inside your own products and solutions and offer them to customers. The Venly solution stack consists of the wallet, NFT marketplace, and application programming interface (API) access that make it easy to connect to other software packages.
  • Pros: Can be used to integrate multiple wallet providers and used as a white-label solution.
  • Cons: Cloud storage

Here are some popular cryptocurrencies used in the metaverse:

• Ethereum: Ethereum is one of the most popular cryptocurrencies and is being used by various metaverse platforms to enable transactions such as buying and selling.
• MANA: MANA is the default cryptocurrency of the Decentraland platform. You need to convert your local currency into MANA by buying the MANA token from a crypto exchange
• SAND: SAND is the cryptocurrency currency or token used exclusively by the Sandbox platform. You need SAND tokens to purchase any land or digital asset on the Sandbox.

Safety in the metaverse

To stay safe in the metaverse, follow these tips:

• Create a different username and password for each metaverse you want to be part of. Using different usernames passwords makes it more complicated for hackers to steal your account data if one account is compromised.
• Get a new credit card to use exclusively in the metaverse. Devoting one credit card for your metaverse usage is a way of protecting yourself from scammers. If your card number is ever lost or stolen, you’ll still have another credit card (for your non-metaverse usage) that hasn’t been compromised.
• Never share your private details with anyone in the metaverse. Strangers may use your personal information against you or even steal your identity.
• Power down, switch off, and disconnect your metaverse hardware from the Internet when you’re done using it. Even after you leave your favorite metaverse, data communication channels on computers (called ports) may still allow traffic that can be used by hackers to hijack your computer. Additionally, malicious programs sometimes get activated during idle time, which means your device can be compromised. Fully powering down your devices is a great way to make sure your network and computers are not accessible to hackers.
• Triple-check any nonfungible tokens (NFTs) you’re buying. Many fake NFTs are floating around in the metaverse. In fact, the largest NFT trading platform, OpenSea, has said that more than 80 percent of NFTs being sold online are fake.
• Always supervise young children if they connect to the metaverse. Don’t disclose any of their personal information online and refrain from sharing their pictures and videos on public networks online.