So, what just pops up in your mind when someone talks about the virtual reality of avatars – Metaverse, Right? For me, when someone says metaverse, some outstanding science function movies are comes to my minds such as The Matrix, Wall-E, and Ready Player One. Also, there are some games that are on top of the list like Age of Conan, Second Life, etc.
But, there are the things that we saw as a part of the entertainment. However, looking at the current situation of the world, there will be a huge chance where metaverse become the daily routine of our life. Yes, the metaverse future isn’t far.
Gartner expects says by 2026, Almost 25% of people will spend their one hour a day on metaverse for doing the things like social media, entertainment, work, shopping, etc.
So, if the above statistic has something from the reality, very short we have to understand the concept of the metaverse and its impacts on our life.
What is the metaverse?
If we separate the terms meta and verse – they have their own meaning. Meta means beyond and verse represents the universe. Their combination becomes the “Metaverse” – a digital environment that allows people to socialize as avatars. Metaverse is a more technological concept rather than a product and it is not owned by any single vendor as it is device-independent.
In short, metaverse will be the next version of the internet where you can meet people, by land, and building as avatars with the help of cryptocurrency.
The recent popularity of the metaverse
The popularity of metaverse is increasing day by day and it comes as an opportunity for companies who are working in the field of technology. If you study metaverse more closely, you will be surprised to know that metaverse not only allow people to create avatars and do the intersection with other people. But, It will also allow companies to create their asses in the form of avatars to sell them in the world of digitalization.
Recently, Facebook comes up with a big update and rebranding to Meta in October 2021, the news itself spiked 25x the popularity of metaverse.
Do you remember the time when Facebook was only just a website/application that people around the world use to connect with each other? Look at it now, it seems like this was ages ago. Facebook is no more just a social media platform that people was using to interact with each other.
Facebook shows its big vision to the world by making it a reality, now you can buy things and sell it through Facebook. Now Facebook wants to sell the virtual assets and wants to take its vision beyond its limits. That’s where meta comes into the picture for Facebook. But, to create metaverse, a few things that you need to consider like technologies, budget, security, infrastructure, and a few more.
Technologies that make the metaverse
As you know the metaverse is a complex virtual environment and it depends on distinct layers in the terms of hardware and software. Let’s look at it.
Hardware – AR glasses, VR headsets, Mobile
Software – AI, MR mobile applications, Blockchain, etc.
Infrastructure – 5G, Wi-Fi, GPUs, and cloud
Spatial computing – 3D visualization and modeling frameworks
Creator economy – Digital assets, e-commerce establishments, designing tools.
So, companies need to check the various factor before jumping into the industry of metaverse.
You might be surprised to know that few leading organizations, take the first step towards the metaverse and adopted it for their business.
Real-life uses of the metaverse
Metaverse attracts companies to develop their own world in the form of digitalization with their own assets and properties. Many companies in the following sector are investing in the world of the metaverse.
One of the leading organizations in the E-commerce section – Walmart is venturing into the metaverse and has a plan to develop its own cryptocurrency and NFTs.
The technology involves the most in the gaming industry and few big names in the industry like Funcom, Linden Lab, and Epic have already launched the avatar-based game to explore the fun element of the game.
It seems that many industry giants want to be ahead of the competition but to understand the metaverse, they need to have deep knowledge of the software and hardware involved in it.
By looking at the current trends and the situation, we can say that metaverse has a bright future ahead.
Metaverse has no limit update science fiction concept but even the activities that living world is doing, metaverse soon will experience that such as:
Yes, there are endless possibilities that you can do in the metaverse. In the true sense that the world has not met the madness of the metaverse yet. Don’t worry, just like you I am also looking forward to see the magic of the virtual reality world. Let’s learn the metaverse more, I am excited to know the good, bad and ugly about the metaverse. Keep connected for more such articles.