What's the big deal about the Metaverse?
What is it, and should you care? To put it simply, yeah, you should!
The Metaverse is a term used to describe a future version of the internet where users can interact with each other in a virtual reality environment. Think of it like the Matrix, but instead of being stuck in a computer simulation, you can actually walk around and explore this digital world.
Wikipedia defines it as a collective virtual shared space created by the convergence of virtually enhanced physical reality and physically persistent virtual space, including the sum of all virtual worlds, augmented reality, and the Internet.
The Metaverse has been around for years and was popularized in Neal Stephenson’s 1992 cyberpunk novel Snow Crash. The idea behind this sort of VR technology isn’t so farfetched anymore either because there are already VR headsets on the market today!
So, what’s the big deal about the Metaverse? Well, for starters, it would be a completely immersive experience. You wouldn’t just be looking at a screen anymore; you would be transported into this virtual world where you can interact with other people and digital objects. This could change the way we work, socialize, and even learn.
The Metaverse is also a level playing field. No matter who you are in real life, you would have the same avatar in the Metaverse. This would give everyone a fair chance to succeed and be whoever they want to be.
Where and how is the Metaverse being used?
There are already a few Metaverse projects in development. The most well-known is probably Second Life, which has been around since 2003. However, Linden Lab, the company behind Second Life, has recently announced a new project called Sansar that is geared towards more mainstream users.
Other notable Metaverse projects include: High Fidelity, an open-source Metaverse platform; vTime, a social VR platform that lets you meet up with friends in virtual reality; and AltspaceVR, a social platform where you can attend virtual events and meet new people
What industries will be disrupted by the Metaverse?
The Metaverse will have a huge impact on many different industries. Some of the most obvious ones include:
Video game industry
The Metaverse will provide a new way to play video games. Instead of sitting in front of a screen, you would be able to enter into a virtual world and interact with other players. This could lead to a whole new genre of video games.
Entertainment industry.
The Metaverse will provide a new way to consume entertainment. Imagine being able to watch your favorite TV show or movie in a virtual reality cinema. Or going to a concert where you can actually feel like you’re standing on stage with the band.
Retail industry.
The Metaverse will provide a new way to shop. You would be able to try on clothes, test out products, and even talk to salespeople without ever leaving your home.
Education.
The Metaverse will provide a new way to learn. Students would be able to attend virtual field trips, take classes in other countries, and even get one-on-one help from teachers.
Work.
The Metaverse will provide a new way to work. With the ability to collaborate with others in real time, regardless of location, the Metaverse has the potential to revolutionize the way we work.
These are just a few examples of how the Metaverse will disrupt industries. It’s hard to predict exactly how it will change things, but one thing is for sure: the Metaverse is going to be a game-changer.
How can you get involved in the Metaverse?
The 7 Market Layers of the Metaverse
The use and use of Metaverse technology can be divided into seven broad categories.
- Experience — This is what we do: games, social events, live music, and so on.
- Discovery — is how people learn that an experience exists.
- The Creator Economic— lets creators develop and monetize items for the Metaverse falls under this category: design tools, animation systems, graphics tools, monetization technologies, and so on.
- Spatial Computing — refers to the software that converts objects into 3D, computes them in the real environment, and allows us to interact with them. It is supported by 3D engines, gesture detection, spatial mapping, and AI.
- Decentralization is everything that transforms the ecosystem into a permissionless, distributed, and democratized structure.
- Human Interface — refers to the hardware that allows us to interact with the Metaverse, including everything from mobile devices to VR headsets to future technologies such as enhanced haptics and smartglasses.
- Infrastructure — is the semiconductors, material science, cloud computing, and telecommunications networks that allow any upper levels to be built.
Still so many unanswered questions
This uncharted territory exposes Pandora's box of many unknowns, such as what legal laws exist in the Metaverse. For example, copyright licenses: how will original content creators prevent their work from duplicating in the Metaverse?
How do trademark owners go about enforcing their rights? A trademark is typically a term, phrase, symbol, design, or a combination of these elements that identifies and distinguishes the source of one party's goods from another. Typically, a trademark protects brand names and emblems used on goods and services.
Third, we are already dealing with privacy issues, hate speech, and digital harassment on significant sites such as Twitter and Facebook. What safeguards are in place that large tech corporations can use to ensure that these vices do not permeate the Metaverse?
These questions, however, will not affect the Metaverse's arrival. The fundamental question is whether we are prepared for the Metaverse and spatial Internet.
