News > Explained: What does money look like in the metaverse?

Explained: What does money look like in the metaverse?

The virtual universe where you can do various activities like shop, interact with friends or even participate in events through your avatar is well on its way to becoming a fully functional virtual economy. Buy land, go shopping, set up digital stores and so on in the metaverse, but how are these transactions carried out?

Ideally, users must create a crypto wallet, deposit fiat currency (traditional currency), and then exchange it for cryptocurrency to make an NFT purchase.