If you have heard the Metaverse run and you are wondering what it is exactly, here is your answer. In this guide, we are going to discuss what the Metaverse is and how it works. In short, Metaverse can be considered as a parallel virtual universe on the Internet!
What is Metaverse and how does it work?
Metaverse is a term formed by combining the two different words, including Meta and Universe. It is essentially a digital space in which digital objects and things represent digital people. It is a concept that is believed to combine aspects of several technologies, including social media, augmented reality (AR), virtual reality (VR), online gaming, and cryptocurrency. And allow people to interact with each other virtually. Simply put, it is a virtual world where users can socialize, shop, do different activities, and learn new things.
The term “Metaverse” is attributed to author Neal Stephenson. It was he who visualized people as avatars meeting each other in different virtual reality environments (eg, realistic 3D buildings) in his 1992 sci-fi novel “Snow Crash”.
In a way, Metaverse already exists on several online gaming platforms, including Minecraft, Fortnite, and Roblox. Even apps like Microsoft Teams or Zoom can be called a form of metaverse since a group of people come together and interact in a virtual world. However, Metaverse is a larger concept of digitally representing space in order to bring people together, from virtual trips to concerts and conferences.
It’s a hot topic right now as Facebook and Microsoft rebrand the term and concept. These two most popular organizations are focused on making the most of the metaverse concept.
Is Metaverse a new concept?
Not really. It’s not really a new phenomenon, especially for gamers. People who are familiar with Fortnite and Ready Player One can easily understand and understand the concept and how it works. However, the term has recently created a buzz since Facebook took it over and rebranded itself as “Meta.”
What is the metaverse for?
As we have already described above, this metaverse is used to create a virtual world in order to bring people together. Instead of viewing the content, users will actually be in this virtual world.
Future meetings could go metaverse
Bill Gates said most virtual meetings will likely transition to the metaverse in 3 years and workers will interact using headsets and VR avatars.
Barbados to establish world’s first Metaverse embassy
This tiny Caribbean country called Barbados is set to become the first sovereign country to build an embassy in the Metaverse. On November 14, he signed an agreement with Decentraland to establish its Metaverse embassy.
Gucci announces its new “Metaverse Design” category
Roblox to offer a new category called “Metaverse Design” in association with Gucci. Players can purchase exclusive outfits on Roblox.
The games move to the metaverse
A metaverse game is a game that allows millions of players to interact with each other within a single virtual world. Roblox, Fortnite, Acknoledger, Crucible Network, Ex-Populous, Netvrk, Meta Spatial, Sandbox, etc. are some of the metaverse games currently available.
What are the current Metaverse implementations?
Current Metaverse implementations largely include internet video games like Roblox, Active Worlds, Decentraland, and Fortnite. It even focuses on improving virtual reality technology, and Facebook recently launched Facebook Horizon, which is essentially a virtual reality world. In addition to this, several organizations are focusing on using the metaverse to improve work productivity.
Read: Facts, myths, debate on artificial intelligence.
What does Zuckerberg mean by metaverse?
Mark Zuckerberg has already announced his intention to establish the “Metaverse”. Here’s what he had to say about Metaverse:
I believe the metaverse is the next chapter for the internet.
An Internet personified, where instead of just posting content, you are there.
What I think is most interesting is how these themes are going to come together into a bigger idea. Our overriding goal through all of these initiatives is to help bring the Metaverse to life.
All of these quotes from the CEO of Facebook give a clear idea of how Metaverse will be Facebook’s main focus going forward.
Is Microsoft working on Metaverse?
Microsoft has its own plan to brand the Metaverse. He planned to deploy Mesh for Microsoft Teams which looks a bit like a metaverse. Several new features like Fashion Set aim to create virtual spaces with better collaboration.
However, it does not build a unified and universal space and is more like a gateway to the metaverse. We’ll keep you posted as there will be updates on how exactly Microsoft is working on Metaverse. However, it’s pretty clear that Microsoft has a more realistic approach to the concept of this virtual world.
What will I be able to do in Metaverse?
Metaverse is supposed to be a game-changer by creating a virtual world that brings people together from all over the world. It can be used for things like virtual concerts, virtual trips, shopping, leisure activities and much more. The scope of Metaverse is not limited to a specific action. This is more relevant in today’s world which is affected by the coronavirus pandemic and where people are crossing Work at home (WFH). In such cases, employees can join a virtual office rather than seeing individual workers on a video call grid.
As Mark Zuckerberg says:
A big part of the Metaverse experience will be being able to teleport from one experience to another.
Users will be able to navigate between separate virtual worlds generated by different organizations. However, big brands and tech organizations are still working on how separate virtual worlds will connect to each other. They have to agree on the same set of standards to connect different virtual worlds.
What is Metaverse cryptocurrency?
Each metaverse platform should have its own cryptocurrency or tokens that users can buy and use online on their platform. Currently, Decentraland (CRYPTO: MANA) and The Sandbox (CRYPTO: SAND) are two of the popular Metaverse cryptocurrencies that can be used in their respective Metaverse games.
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