The hottest topic of 2021 has been the Metaverse, with Facebook and Microsoft both staking claims. But what is the Metaverse and why it matters? Read this article of TechTrends to learn all about it.
“The Metaverse” has become a hot topic of conversation recently, but the idea for it has been around for a while. Courtesy of Facebook and Microsoft’s support, there is an escalating interest in creating simulated worlds similar to reality. Many believe that Metaverse is the next chapter for the internet and means to make virtual communications easier. But what is the Metaverse and why it matters? How to inter the metaverse? What are some Metaverse examples? There is a lot to unpack. This article aims to fully answer all you need to know about this digital world.
What Is the Metaverse and Why It Matters?
Despite the rise of this digital world, thanks to technological developments and advances in cryptocurrencies and decentralized autonomous organizations, many individuals have difficulty understanding the Metaverse meaning and wonder why it matters. According to Mark Zuckerberg, the Chief Executive Officer of Facebook, the Metaverse is “the internet that you’re inside of, rather than just looking at”. It is held that Metaverse will contribute to a more meaningful human connection and provide unprecedented access to opportunity, regardless of where you are. Now let’s get into a more detailed answer to the question what is the Metaverse and why it matters?
Metaverse definition
To begin with, answering the question What is Metaverse? is a big ask. Keeping the definition simple, we can define it as a persistent, shared, 3D virtual space that is super realistic, immersive, and interactive. It uses augmented reality (AR) and virtual reality (VR) technology. It is then linked into a perceived virtual universe. Courtesy of advances in technology, the chance for the Metaverse to become a possibility is more than ever now.
Inside the Metaverse, several virtual worlds can exist. People can engage in a broad range of physical and digital activities. Unlike now that we have to stare at a screen, in the Metaverse, you can be inside all the online experiences, such as meeting friends and family, shopping and selling goods, and even having official paperwork done. In other words, it all boils down to your daily activities being incorporated into a highly interactive platform, allowing you to have more things done in just one place.
When Was The Metaverse First Used?
To better understand the Metaverse definition, we have to trace back to when the word was first used. Ever since Neal Stephenson released his 1992 dystopic, cyberpunk novel Snow Crash, the term “Metaverse” was coined. Earnest Cline’s 2011 novel Ready Player One can be mentioned to provide a more recent inspiration.
From the mid-1980s, online communities have been part of people’s lives. They grew in the 1990s with chatrooms, instant messengers, and social media sites. Today, they are considered just as social an experience as most other physical communications. Whether in virtual reality (VR), augmented reality (AR), or just on a screen, the Metaverse promises a more significant overlap of our digital and physical lives regarding wealth, socialization, shopping, productivity, and entertainment. When thinking about how iPhones, for instance, can take a 3D scan of the surroundings or how the online taxi apps show the car’s distance via location data, we can see that these two worlds are already interwoven. The Metaverse can be described as an evolution of the current Internet at its core.
Why the Metaverse matters
Assuming you have a concrete answer to the question “What Is the Metaverse?”. we can now jump right into “Why It Matters”. The Metaverse is highly important because it establishes meaningful human interaction and provides access to opportunity in a way you have never seen before.
Physical location has long been dictating how we should live, serving as a barrier to opportunity in some cases. For instance, many people have to live near where they work, which means less interaction with friends and family members who live far away. In addition, for those generations already growing up online, socializing in chatrooms, and attending online classes, the Internet does not provide the connection and joy of being together physically.
The Metaverse, however, aims to solve this issue, for it is the Internet’s next iteration, bringing a sense of place and facilitating human interaction. Imagine working alongside your colleagues in a virtual office. You can start up a typical conversation or attend classes with a teacher who lives across the world. There will be hundreds of opportunities open for work and education for anyone. This was the answer to the question What is the Metaverse and why it matters?
The Metaverse examples
The next question that may come to mind after what is the Metaverse and why it matters? is the examples. There are several Metaverse examples available at the moment, with some of them listed below:
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Ready Player One
The New York Times bestselling book Ready Player One is a perfect Metaverse example. It further explains the Metaverse meaning and gives an image of what this virtual world may look like.
This sci-fi novel that occurs in 2045 shows a real world ravaged by poverty, war, and climate change. People escape from that harsh reality by taking refuge in OASIS, a Massive Multiple Online Role-Playing Game (MMORPG) and a digital society with a specific currency. It represents a place where anything can happen, and the only limitation for reality is people’s imagination as they can be whoever they want.
To depict the notion “What Is the Metaverse?”, director Steven Spielberg created a version of the OASIS in his movie called Ready Player One, released on 29 March 2018.
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Facebook Horizon
Facebook is also creating its own version of the Metaverse through the expanded VR world called Facebook Horizon. He elaborates on Horizon’s definition, saying: “It’s a social experience where you can explore, play, and create with others in VR.” This platform hosts these interactions, beginning with an Oculus project called Horizon Home.
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Fortnite
During the last couple of years, Tim Sweeney, Fortnite’s Chief Executive Officer, insisted on his plans to make Fortnite more than a game. The game’s most significant event occurred in 2020 when 12.3 million people attended Travis Scott’s virtual concert within Fortnite.
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Somnium Space
Another Metaverse example that backs virtual real state trading and ownership is a VR world-builder platform named Somnium Space. The currency used in this digital world – created on blockchain architecture – is called Somnium Cubes used for buying properties. It serves as the primary funding for the platform and the real state. It can be used for social networking, e-commerce, gaming, and events.
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IMVU
This Metaverse example is an enormous avatar-based 3D social network. It provides its 7+ million users with a chance to interact with friends, shop, attend gatherings and make money by creating virtual products.
The Building Blocks of the Metaverse
Further into the article of what is the Metaverse and why it matters? We discuss these Metaverse examples that show us many angles to its evolution. Some of the trends are already at play and likely to be followed.
The future of work and education
Since the Covid-19 pandemic hit, a significant part of the population has moved toward remote work. It is already a reality for many people. The Metaverse seems to be only continuing like Facebook’s Horizon Workrooms are showing us. Microsoft is right behind, and many other companies are considering sending their employees into the digital world.
About education in the Metaverse, Theoretically, people can learn anything from anyone. Facebook has revealed that they are considering spending $150 million to educate the next generation of creators to make immersive learning content.
Social connections
Another building block that is crucial in describing what is the Metaverse and why it matters? is social connections. Friends can meet in virtual rooms donning avatars, and interact through virtual assets. Although it may be a long road, the building blocks of the Metaverse are beginning to form. The purpose is to create aspects of reality and seamlessly bring it into the virtual world.
Entertainment
Free time may appear quite different in the Metaverse as it excites entertainment to a whole other level, from communicating with real users and befriending avatars to attending your favorite performers’ eye-catching virtual concerts.
It can also open doors to attending IRL events all over the world and going to an after-party in a virtual room.
Gaming
Gaming is the most significant entertainment industry in the world. It is known as a pioneer in making immersive experiences and interactive digital worlds. It will be fun to make new friends and earn money, which is one reason why the Metaverse will attract many users.
Real Estate
However, buying virtual land using cryptocurrency can make you pretty rich for those who see the real-world real state out of reach. The surging popularity of the Metaverse has been prompting record-breaking sales of digital assets every day in some of those Metaverse examples.
How to Enter the Metaverse
Having acquired a solid understanding of what is the Metaverse and why it matters? And what Metaverse examples there are to choose from; it is time to buckle up and learn all about how to enter the Metaverse.
Hardware
To begin with, hardware is required. However, there is no obligation to purchase a piece of high-tech gear. Your smartphone is enough to join the Metaverse. Nevertheless, to enjoy the whole experience, you may want to think about buying a VR headset. If you aren’t keen on jumping all the way in, a pair of AR smart glasses. When exploring your options on how to enter the Metaverse, there are plenty of aspects to take into account. Should you decide on purchasing a VR headset, it helps you become fully immersed in this virtual world, giving you a sense of real presence. Meta (formerly Facebook) is ahead of all competition between the headsets.
There is a high demand for its Meta Quest 2 is on the market. Following that, there are PlayStation VR and Valve Index. Thanks to the Metaverse topic skyrocketing recently, there appears to be a growing demand for VR headsets. Speculations are rising surrounding Apple and its plan to enter the race.
Create an avatar
In the process of learning more about how to join the Metaverse, note that you have to create your Avatar. That will make you recognizable in the Metaverse without revealing your actual identification. This virtual manifestation of the user that enables necessary interoperability can be in any form and shape as long as it has humanoid features.
A great effort needs to be put into creating an avatar. That Avatar will represent you across a wide range of virtual worlds, which makes the process all worth it.
The Crypto Avatars is a platform that provides creative designers with an opportunity to publish their avatars, preparing them for use across many virtual worlds.
Final Thoughts
Notions and opinions regarding what is the Metaverse and why it matters? And how it will look like, will keep flying around the tech industry in the upcoming years. It may take a long time for us to have a full-fledged Metaverse.
Not to forget the many technical hurdles to overcome. The world not having an online infrastructure able to sustain millions of people in the Metaverse simultaneously is one of those problems. In addition, an internet connection that is reliable and uninterrupted plays a crucial role in its creation. It is because a glitchy virtual world scenario is not what the Metaverse should look like. However, technology development like 5G and edge computing is sustained. However, it is not currently meeting the requirements of a complicated infrastructure such as a Metaverse. Moreover, data privacy and safety is another concerning issue. Only time can tell when it will become a reality and provide all its promises. When it does, maybe we meet you there.