Rashmi Singh
Have you thought of a world where you watch your favorite movie on big screens, go for a shopping spree, visit a cozy restaurant for a dinner date with your beloved, hit the gym, or go to beaches, in the comfort of your home? Yes, you read that right. This is what our world is going to become years down the line. We are going to live our lives the way we want to, experience Paris, click a picture by the banks of the River Thames, and eat Lasagna in Italy sitting on the very same couch that we are, now. How is this possible? Is it already happening? Well. All your questions will be answered if you dive into the below write-up. Let’s know what is metaverse.
The word “Metaverse” is the hackneyed one on the internet and everywhere across the globe now. People have already ventured into it and making quick bucks. This VR/AR tool is making geographical locations borderless. The transaction people make is also going to be virtual and everything that you see, hear, smell, touch, and feel is going to be virtual. The tech-giant Facebook renamed to Meta citing that they are going to focus more on Metaverse and evolve into a better platform to give away the best experience to the users.
In simple terms, Metaverse is a 3D virtual space where users are given scope to live their life like how they are unable to, in the real world. The word first appeared in Neal Stephenson’s sci-fiction released in 1992, called Snowcrash.
Metaverse is found in terms of Meta Crypto, Meta Stocks, Meta Tokens, Meta NFTs, Meta Technology, etc.
The advent of this technology has brought a new era to the Internet space called ‘Web 3.0’. Some technologies that connect people to this are Virtual Reality headsets, Augmented Reality glasses, etc.
Who can benefit from Metaverse?
Anybody from a peasant to a state’s ruler. A shopkeeper can sell merchandise in this space and get paid via crypto. It’s as simple as that, provided one understands the operation.
A Coldplay concert on video streaming might not be the same when listened to for real. But VR/AR can bring that effect to the listener. A concert, lectures, conferences, classes, cultural events, get-together parties, weddings, monuments, museums, and everything under the Sun can be done here, Perhaps, even the Sun. Of late the following fields have ventured into Metaverse.
- Fitness gyms
- Education
- Gaming
- TV Shows, events, movies, and entertainment
- E-Commerce etc.
The fashion industry has been using this space to help its customers find the best outfit, handbags, glasses, etc. Likewise, it is useful to other industries if they venture.
What is the origin of Metaverse Technology?
The origin of Metaverse dates back to 1883 when Sir Charles Wheatstone brought the concept of “ binocular vision”. This paved way for the invention of stereoscopes, a concept currently used in VR Headsets.
Then, in the book Pygmalion’s Spectacles, the writer Stanley Weinbaum introduces a character who explores an illusionary world with specs that allow him to touch, hear, and smell everything virtually.
It was later in the book Snow Crash that Neil Stevenson introduced to the world the term “Metaverse”. Then this Technology evolved fast, being used in arcades, furniture marts, etc. Then tech giants like Apple and Facebook indicated they were focusing on mending the future of Metaverse Technology by manufacturing VR Headsets and glasses. The release date of the next-gen Quest by Facebook in 2023 is much awaited by tech enthusiasts.
The term became familiar during the pandemic when people had to avoid in-person interactions and go through hardships. So people had to work remotely and organize virtual meetings. This led them to learn about Metaverse Technology and its utility.
Meta Crypto
A cryptocurrency is a form of digital asset that uses cryptography to save transactions which are usually done in digital ledgers. They are not regulated by a body or a government. It doesn’t depend
on a financial institution and can make anyone send money to anyone from any part of the world. They are decentralized and optimize resource distribution. There is coding gone into storing these digital assets.
A few years down the line, we might own real-estates, lands, plants, buildings, and houses virtually and shell money out for acquiring them virtually too. This is where Cryptocurrencies come into action.
Crypto is the key to Metaverse! Though both of them seem to go hand-in-hand, they are separate concepts. But the usage of crypto in the virtual world cannot be denied. This simply means all the banks and financial institutions should update themselves and evolve to support this cyberspace and users with an ever-cherishing experience. No wonder they set up their headquarters in this space too.
Some of the most familiar meta crypto today are Decentraland, The Sandbox, Axie Infinity, RobotEra, FightOut, and so forth.
What Are Metaverse Games?
Metaverse has been creating waves in gaming technology by easily bringing together games, social media, cryptocurrencies, virtual reality, augmented reality, etc.
Digital games today are entertaining but fail to give users the real experience of playing them. But Metaverse has gone one step beyond it by allowing them to experience it play, hear, watch, and do everything that they wish to. It also gives a 360-degree view of the environment.
Some of the gaming platforms are:
- Epic Games
- Roblox
- Microsoft
- Niantic
- Nvidia
A fast internet connection, a virtual reality headset, a computer or mobile phone, and Blockchain wallets will alone suffice to make a user experience the best of all the games one has ever played.
Some of the examples of games where Metaverse is used to a large extent are Pokemon Go, Horizon, Fortnite, Ready Player1, Second Life, and so on. These are not just Metaverse examples but platforms that are going to change the entire landscape of the industry by making the virtual experience a reality.
What are Metaverse NFTs?
Non-Fungible Tokens certain one his/her ownership over an art piece or anything that has been created. So VR is the best platform that allows the users to view the work of the owner closely from every possible angle. With many museums on the Metaverse now, one can look at it with awe in a relaxed environment giving importance to details. With applications like VR Chat, providing links to assets has become way easier.
Companies that would like to get on Metaverse platforms can approach a VR application developer and place links to their products and sell them.
Metaverse Tokens
Experts say since the concept of Metaverse is not known by many people. It is advisable to acquire Metaverse tokens when they are cheap. There are some of them available for even less than $1. At the same time, one should not waste money on tokens that have no future.
With proper analysis and experience, one can find if there is an earning potential in the tokens. Some of the investment-worthy Metaverse Tokens go as follows:
- The Sandbox
- Decentraland (MANA)
- Highstreet (HIGH)
- Floki Inu
- Metahero (HERO)
- Virtua (TVK)
- Star Atlas (ATLAS)
- Enjin Coin (ENJ)
There are a lot more promising Metaverse Tokens available in the market. These play a huge role when a user wants to shell out money to buy their favorite outfit, transfer money to their family, go on a dinner date with their sweetheart, and buy popcorn at the cinema, virtually. Since the physical form of money cannot be carried, Metaverse Tokens are spent on buying all these.
The entire concept of Metaverse finds its grounds in Cryptocurrencies and Meta Tokens. So with a proper understanding of the domain, a risk-taker can invest money to see profits in long term.
Why do Metaverse Graphics look bad?
This is considered to be an internet challenge. Most of the avatars don’t have legs, which is against reality. Hence, cartoons are seen as the temporary solution to this issue.
Also Read | What is Non-Fungible Tokens (NFT) and How Does NFT Work? The Ultimate Guide
Meta line : Available in the forms of Metaverse Tokens, Metaverse Games, Metaverse NFTs, Metaverse Crypto and Metaverse Stocks, Metaverse Technology is a 3D virtual space where users are given scope to live their life like how they are unable to, in the real world. Facebook is about to launch a VR headset in 2023 that might shape the Metaverse world in the future. However, the release date is unknown. Though Meta Graphics is yet to be streamlined, Metaverse has the potential to be called as an ‘investment-worthy’ platform.
What Facebook has to do with Metaverse?
On Oct 29, 2021, Facebook’s founder Mark Zuckerberg took to Twitter to announce that Facebook would no more be called so, but Meta. He also mentioned that the company was moving towards its mission of setting foot in the world of Metaverse and shaping it.
He added on by saying he believed the entire idea of social technology is to make a user feel truly present with another person and Metaverse is not about spending time digitally but in a better way.
The company also went on to unveil its new sign at its headquarters in Menlo Park, California in place of its thumbs-up-like logo with a blue infinity shape. The founders said that it was the right time to encompass everything they do and to reflect on who they are and what they hope to build. Also, they have segmented their business into two- one for their family apps and the other for their work on future platforms.
Mark stated that the word Meta originated from Greek meaning ‘Beyond’ indicating that there was always more to build and go beyond what one actually can to bring a change. He added that Facebook users might not have to use the application to use their other services in the future.
The most awaited news of this year from Facebook is the release date of the Quest headset. Meta CEO Mark Zuckerberg has confirmed that the company will launch the next-generation Quest in 2023. CFO Dave Wehner hinted that it will be launched “later next year”.
Meta-owned Reality Labs produces virtual reality and augmented reality hardware and software including Quest 3. Sources say the headset might see its debut at the company’s annual Connect event the following year.
The current news about Metaverse is Mark Zuckerberg’s Meta graphics going viral on the internet. Although Meta graphics is an aesthetical choice, many say it is killing realism. Recently Zuckerberg’s selfie of him at the Eifel Tower in Meta graphics was backlashed.
FAQs
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What is Metaverse?
It is a 3D virtual space where users are given scope to live their life like how they are unable to, in the real world. The word first appeared in Neal Stephenson’s sci-fiction released in 1992, called Snowcrash.
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Why should one use Metaverse?
It possesses the ability to make people experience whatever they want to, virtually. It has immensely benefitted the education, tourism, gaming, and healthcare industries. More than 40% of the AR and VR trends are already set to the Metaverse Technology approach.
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What are the other forms in which Metaverse Technology is available?
It is available as Meta Coins, Meta Tokens, Meta NFTs, Meta Games, Meta Stocks, Meta Crypto, etc
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What are the examples in which Metaverse is widely used?
It is used in gaming platforms like Fortnite, Decentraland (MANA), Metahero (HERO), Second Life, etc. Apart from that its application ranges from agriculture to administration to real estate and everything on earth.
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Why do Metaverse Graphics look bad?
This is considered to be an internet challenge. Most of the avatars don’t have legs, which is against reality. Hence, cartoons are seen as the temporary solution to this issue.
