The internet is in the midst of transitioning from Web2.0 to Web3.0, shifting investor perception towards innovation and decentralization. With technology evolving, Web3.0 aims to go beyond simply connecting people. 

The Metaverse is seen as an early framework for this “new internet”. It is intangible and undefined. Various reports speculate on the possibilities, but the only undisputed conclusion is that it will be a better internet for everyone. 

This report is designed conceptually for beginners to increase their understanding of the diversity of NFTs and the current state of the Metaverse. The report is broken up into several bite-sized sections to be digested easily. 

Avalanche is open-source platform for decentralized applications and enterprise blockchain developments built in one interoperable, highly scalable ecosystem. Being the fastest smart contract platform in the blockchain industry, their near instant transaction finality is built to scale for global finance.

Avalanche sets itself apart from other decentralized networks with its consensus model. They employ strong safety guarantees, quick finality, and high throughput without compromising decentralization.

Founded in 2018 by Cornell professor and computer scientist, Emin Gun Sirer, Avalanche is built by Ava Labs, a for profit software company based in the United States.

Fantom is a proof-of-stake Layer-1 blockchain founded by computer scientist and ex-CEO Dr. Ahn Byung Ik in 2018 and launched on December 2019. Fantom is unique in that it runs on a single consensus layer known as the “Lachesis Protocol”. It serves as the core engine that also connects to Fantom’s EVM-compatible chain Opera (a wordplay on the popular musical “The Phantom Opera”).

Fantom’s goal is to create a smart-contract DeFi ecosystem that solves Ethereum’s existing problem of slow and expensive transactions, putting them in direct competition with Avalanche, Binance Smart Chain, Cardano, Solana and Terra. According to the Fantom Foundation, Fantom achieves an impressive time-to-finality of 1-2 seconds and a speed of 10,000 transactions per second (TPS), far ahead of Ethereum’s current 25 TPS.