Consider meeting family members or friends not in real life, but in a 3D virtual environment created by a computer. Using a headset or special glasses, you experience this world while sitting in your room. You do practically everything you do in the real world, but not in the actual world, in the same manner that you work, study, or shop. In the future, Metaverse promises something similar. It is characterised as the technology that will eventually replace the internet and become the future of humanity. So, read the entire blog to learn how Metaverse operates, its technology, currencies, and what its future holds.
What is Metaverse?
Metaverse is made up of two words: Meta and Verse. The word Meta is derived from the Greek prefix meta, which meaning "beyond." The poem is derived from the term "universe." We exist in this reality, and there will be a Metaverse behind it. This term is most commonly used to allude to a fictitious universe. The Internet may also be referred to as a different world, yet when you connect to it, you are essentially constrained to only two dimensions. These are 2D displays, whether you're using your phone or a PC. However, while discussing the Metaverse, the Metaverse will be an universe in which you may be entirely immersed in three dimensions.
When you watch a movie in the Metaverse, for example, you will not only view the movie as a spectator, but you will also feel as if you are in the movie. Despite the fact that several firms have lately attempted to develop their own virtual worlds and Metaverses, Facebook has reignited interest in this term. When Facebook chose to rename their company Meta. They claim to desire to rule the Metaverse. They seek to go from a social network to a Metaverse firm.
"You can accomplish just about everything you can think," says Mark Zuckerberg of the Metaverse. Get together with friends and family, work, learn, play, shop, and create, plus all-new categories that don't exactly match our current concept of computers and phones."
Metaverse Technologies
To actually generate the Metaverse, several strategies are employed, such as:
- The first of these is Virtual Reality (VR). This technology is already available. However, in order to utilise it, you must wear those bulky headphones. And, according to several users, if it is worn for more than half an hour, it begins to create headaches and motion nausea. It is also envisaged that with new technology, these bulky headphones would get smaller and thinner, eventually shrinking to the size of a standard glass.
- Augmented Reality is the second technology (AR). This indicates that certain manufactured components have mingled with our natural environment. It will not be fully immersive virtual reality.
- Furthermore, there is speculation about the presence of 5G technology in the Metaverse. If we want to develop a massive virtual environment, we will need to continually upload and download massive quantities of data, which will necessitate very fast internet rates and the use of 5G.
Currency in Metaverse
When money is spent in the Metaverse to buy something, it cannot be actual money because everything is digital, hence a digital currency is required. Cryptocurrencies come into play here. And, because there are so many transactions occurring on all the time, it should be secure. There will be a cyber-threat or a data leaking risk. Blockchains may be utilised to assure their security.
Also, how do you go about purchasing land in the Metaverse, or any other property or asset in the Metaverse? This is supposed to be accomplished through the use of non-fungible tokens (NFTs). NFTs may be thought of as blockchain tokens that can be used to establish ownership of any digital asset. It is presently used to acquire and trade meme ownership. Concert tickets may also be validated using NFT. If a person is hosting a virtual party in the Metaverse, as several celebrities did last year.
Will Metaverse Idea Work?
This is a fascinating question. There have been several Metaverse-related technologies in the past, such as Google glasses, but they have all failed. The following are the primary reasons for the failure of these inventions:
Convenience
They lacked every function that consumers actually wanted. It appeared to be future technology. People who possessed one may brag about the glass's virtues, but there was virtually little real use. Everything you can do with these gadgets, you can already do with your smartphone. It's even easier to do on a smartphone. A similar statement may be made regarding the Metaverse.
Fake Dystopian World
Furthermore, individuals do not want to be so removed from reality that they lose how to live in reality. To spend our entire lives in this fictitious artificial universe. People will cease thinking about the actual world if this virtual environment becomes too engrossing and entertaining. This is definitely dystopian.
Privacy Issues
The most serious issue with Facebook and Mark Zuckerberg is the threat to privacy and data theft. Facebook tracks you in every manner imaginable. Similar material is given to you depending on the precise pixel you click, the content you watch, and the accounts you follow.
This causes bubbles to form. You remain encased in your bubble. It only displays what you want to see. Your every step will be recorded since they want you to work in the Metaverse and chat to your buddies. They will trace every word you say in order to sell advertisements. The more time you spend in the Metaverse, the more information they have on you.
Competition
Even after investing $188 billion and owning Oculus, the world's largest VR headset firm. Microsoft handily defeats META for a number of reasons.
- Microsoft has been a big player in gaming, both with Xbox hardware and through acquiring game companies such as Minecraft in 2018, ZeniMax in 2020, and Activision Blizzard for $69 billion in 2022. Meta, on the other hand, has less game development expertise and does not yet have a single game studio.
- If metastasis had occurred, the early consumers of personal computers in the 1990s would have been firms that purchased them for their staff in order to boost efficiency. Microsoft has a long history of selling software to companies, whereas Facebook was predominantly a B2C company.
- Microsoft Teams competes directly with META's Horizon Workrooms. The main difference is that MS Teams has 145 million daily active users.
Metaverse: Conclusion
A metaverse is a made-up universe. As we all know, some of its innovations will undoubtedly be popular in the future. They will, however, be well-liked in their respective fields. Like:
- Providing a variety of alternatives for where to work and how to work
- Make a centralised digital work environment to ease the move to remote work.
- Protects the user's physical security against hazardous infections.
- Meeting our loved ones or hanging out nearly everywhere you wish
However, owing to the concerns described above, this is a proposal that will not be embraced by many!
