Understanding the Metaverse

Have you ever imagined a virtual world where billions of people live, work, shop, learn & interact with each other?

Yes, we are talking about the next generation internet universe that allows you to do all of this, and more, from wherever you are!

There has been a lot of curiosity about the term “metaverse” ever since Facebook announced its rebranding to ‘Meta’ and the tech-giant’s focus on this new iteration of internet

What is Metaverse?

The term metaverse was coined in 1992 by author Neal Stephenson in his sci-fi novel Snow Crash, as a combination of “meta” and “universe”. Metaverse is an immersive 3D virtual space where humans can experience life in ways otherwise impossible in the physical world.

It is a digital reality with combined aspects of social media, online gaming, augmented reality (AR) & virtual reality (VR) to allow users to interact virtually.

We can use metaverse platforms for various purposes, including social networking, online gaming, education, and training. They can be used to create virtual worlds that mirror the real world or they can be used to create entirely new & imaginary worlds.

How can one access Metaverse?

Two technologies considered important to the development & growth of the metaverse are virtual reality and augmented reality.

Virtual reality is a simulated 3D environment that enables users to interact with a virtual surrounding in a way that approximates reality as perceived through our senses. This approximation of reality is now typically accessed through a VR headset that takes over a user’s field of vision.

Augmented reality is less immersive than VR. It adds digital overlays on top of the real world via a lens of some type. Users can still interact with their real-world environment. Google Glass and heads-up displays in car windshields are well-known consumer AR products.

Why is Metaverse important?

The term “Metaverse” became popular when Facebook rebranded its corporate identity to Meta in 2021. Along with Meta, other well-known technology companies including Google, Microsoft, Nvidia, and Qualcomm are enthusiastic about the idea and have committed billions of dollars.

Management consultancy McKinsey & Company has predicted that the metaverse economy could reach $5 trillion by 2030. E-commerce is expected to be the dominant engine with gaming, entertainment, education & marketing in the metaverse also becoming important sectors.

How will Metaverse shape the future?

The future metaverse would be something very similar to our real world in many aspects & even replace some real-world activities. In addition, with the current version of the metaverse shaping up as a multiverse, companies are using the term to refer to many different types of enhanced online environments.

See You In The Metaverse!