Metaverse can be broken down into three components — virtual reality, creators economy, and decentralised ownership. Simply put, it is a virtual recreation of the physical world which will have an economy defined by the creator of the Metaverse, which would be a “publicly-owned” space accessible to everybody. So, when you go to a mall in the Metaverse, you can buy virtual goods using the Metaverse currency, which is, in most cases, NFTs or non-fungible tokens. To paint a picture, when your avatar enters the mall in Metaverse to purchase a virtual pair of shoes, you mint an NFT that can be bartered for the pair of shoes.