The first thing that surely pops up in our mind when we see the word metaverse is a virtual world. But what exactly does it mean? And where are we heading with this fancy word? Are we all living in the metaverse but just not realizing it?
All your questions will be answered. But first, let us begin with the basic definition of the metaverse.
What is the metaverse?
Metaverse is a virtual world where you can perform your daily activities, from shopping to attending classes. Instead of a 2D version of a browser, you will be immersed in a simulated environment surrounded which is an exact copy of your real surroundings. We can also build engaging and imaginative worlds which are impossible to build in our real life.
The term actually got derived from digital antiquity: In a 1992 novel, “Snow Crash” written by the author Neal Stephenson, and then got featured in the Oasis in the Ernest Cline novel “Ready Player One”.
In short, the utopian metaverse can be best described as an alternate world, other than the one we currently live in, where social norms and values are written afresh and is the next version of the internet.
Where are we heading in the metaverse?
The current form of the metaverse is creating hype and confusion among enthusiasts. Some say that the metaverse is a full-fledged digital world and we will be living there in a few years. While some argue that the metaverse is still in its developing stage. What is the truth?
Mark Zuckerberg assumes that the metaverse will arrive by the end of the decade, but it could also be much sooner than that because foundational components are already in place.
Let me explain a few things first from my perspective. It may seem that the notion of the metaverse is clear and final, but it is still evolving and patience is needed as it can take up to a decade or more to completely develop. But since the metaverse is in its early stages, it is the right time to invest in metaverse. Check out our blog, “The Best Metaverse Stocks To Consider Buying Now” for more information.
For gearheads, the metaverse symbolizes a nirvana: a place to grip’s one attention in a digital environment, where we can participate in any physical activity, at any time. With the advancement of technology, it is also possible to see and feel anything using haptic devices, even if you are thousands of miles away from that physical place.
Technologies are building with each passing day. And, we cannot deny that there will be a first big wave of innovation over the next 1 to 2 years, where MR, or “mixed reality” hardware delivers advancements for immersive experiences.
Just as the bitcoin network came into existence in January 2009 and has been disrupting the financial industry since then with innovative technologies. The same can be used to promote the continuity of data in the metaverse. Non-fungible tokens or NFTs are an incredible example of how blockchain technology can be utilized to verify the ownership of digital assets.
Living In The Digital Age
By living in the metaverse we do not mean to pack your bags and live there. It means that whatever you do in your real-life can be imitated and done in the metaverse. All you need is a VR headset. It enables you to experience immersive environments, you can even go on a world tour without even stepping out of your home.
In the metaverse, it is your customized avatars that will communicate, and attend meetings, and concerts to build a community of like-minded people. Imagine living in a virtual world, mainly powered by Augmented Reality (AR) and Virtual Reality (VR), where you can teleport whenever you want and can perform your day-to-day activities there.
I agree that’s not how most people live today. But, we cannot turn a blind eye to the fact that we’re moving along a continuum where our everyday life is mediated through digital characters and worlds with each passing day.
Conclusion: The Metaverse Is Expanding
So what exactly will the metaverse look like? Will it be an exact replica of the real world or something even better than that?
IT all depends on who is building what. Various use cases of the metaverse are already forming pop up. We can have a look at some early enterprise users of the Hololens, Google Glass, Magic Leap, and numerous companies that are also pitching digital twin simulations with gaming engines like Epic and Unity.
A number of startups have also come up in the limelight for developing metaverse solutions. WoWExp Technologies is one such startup that is currently working on building a metaverse city wherein people can collaborate and interact via avatars. From attending their classes in the “Metaverse Campus” to dancing in a club for an event or a concert, everything will be held in the WoWExp City (WEC). Check out their YouTube page for a quick demo of their service.
Whether we are in the metaverse or not, one thing is certain, soon a perfect combination of AR, VR, AI, crypto, and NFTs will bring us a new virtual world where we will be cherishing every possible activity, all from the comfort of our homes.
