A clear definition of the metaverse does not currently exist. Rather, there are discussions about what the Metaverse could be, what it isn't, what it should or must be, and what goes with it.

At the heart of the cryptocurrency's rise over the past year has been the growth of decentralized finance - or DeFi for short - which has helped propel the popularity of the Ethereum network while introducing a host of new innovations to finance.

For the past few weeks, we've been looking at first and second layer protocols and how they set ground rules and scaling functionality for a given blockchain network.