All about the Metaverse

The Metaverse is a virtual world, to which we will connect using a series of devices. These devices will make us think that we are really inside, interacting with all its elements. It will be like teleporting to a whole new world thanks to virtual reality glasses and other accessories that will allow us to interact with it.

Virtual worlds are not new and there are many of them, especially in the video game industry. You create a character or an avatar, and you enter this world to experience adventures through your computer.

However, the Metaverse doesn't seek to be an imaginary world, but rather a kind of alternate reality where we can do the same things we do today outside of the house, but without leaving the room.

Article to read: How to earn cryptocurrencies with staking?

The metaverse is one of those words that keeps slipping out of our heads when we hear it constantly in the media. The truth is that the idea of ​​the metaverse is exciting but it's not a new concept at all. Do you want to know its history and understand it once and for all? In this article, we'll tell you everything you need to know about the Metaverse.

Let's go

What is the Metaverse?

The metaverse is a digital reality that we access through special devices such as virtual or augmented reality glasses through which we can interact with other users. Each of these users will have an avatar and interact through objects in immersive worlds.

It's like a second digital reality in which we can interact with our friends. To understand the term metaverse try mentally replacing it in a sentence with " cyberspace ».

Most of the time, the meaning will not change much. Indeed, the word itself does not refer to a specific type of technology, but to a change in the way humans interact with it.

Article to read : How to protect your cryptocurrency wallet?

Typically, the technologies that make up the metaverse include virtual reality. This is characterized by virtual worlds that continue to exist when you're not even playing, such as augmented reality, which combines aspects of both worlds, both digital and physical.

Despite this, the metaverse does not necessarily require access to these spaces via augmented or virtual reality. For example, Fornite fulfills various characteristics of a virtual world, which you can access through computer or mobile, so we could say that it is metaversal.

The Story of the Metaverse: Snow Crash.

At Finance de Demain, we have some reservations about the origin of the metaverse. But it all seems to have started with Neal Stephenson's novel Snow Crash (1992). The novel tells the story of Hiroaki Hiro Protagonist, pizza delivery man in the real world, but warrior prince (samurai) in the metaverse.

At some point, Hiro discovers the existence of a powerful computer virus in the Metaverse, called Snow Crash, and the discovery of knowing more about this virus will be the central axis of the plot.

Article to read: Digital finance: the BA BA

What is relevant in this book is that Neal created the first written reference to a completely virtual world long before we could talk about cyberspace. In his book, Neal introduces the idea of ​​avatars (or virtual characters of real people in the tangible world).

When will the Metaverse be real?

Currently, the metaverse is just a concept that is beginning to build. Meta, formerly known as Facebook, pitched the idea and announced big investments to make it happen. But it remains to be seen if other companies will join the effort to create the technologies that will make it possible.

Because we still don't have the technologies that can make this concept a reality. We don't have virtual reality devices that really make us move like we're inside that universe in a realistic way.

The whole infrastructure is also lacking in terms of design. It's a universe that wants to be created, but it still has no regions, streets or anything, just a few virtual rooms that are used for early testing.

Over the next few years, we will see how new devices will be launched to connect us to this new virtual reality. The idea is that in the future they will be very comprehensive and affordable, but until this is real they may not yet allow for great interactions and will be quite expensive.

Article to read: The 10 secrets to successful affiliate marketing on the internet

We are therefore still a long way from being able to all connect to a metaverse in which to interact. We still have to develop this virtual universe, but also to develop the technology that allows us to connect to it. It is also necessary to make, where it exists, this technology accessible to all.

Features of the metaverse

These virtual spaces have a series of common characteristics:

1# These are interactive spaces

A user who is in the metaverse is able to communicate and interact both with other users/avatars and with the virtual universe itself. It also adds a causal function, since users are part of the changes happening around them.

2# Sound body ambience

Second, these virtual spaces are characterized by the fact that they are subject to the laws of physics and there is a shortage of resources, just as it happens in the tangible world as we know it.

3# It is persistent and autonomous by itself

The metaverse is persistent and self-contained. This means that even if we don't use the metaverse, it still works. This gives it the property of being a living organism, in which, whether users are connected to it or not, the dynamics of the world continue to function.

Article to read: Tips for Business Success in Africa

4# The metaverse is decentralized

The metaverse is not owned by a single company or platform. It belongs to all of its users, who can also control their private data. Blockchain technology is a big part of this because it ensures that all transactions in a virtual world are public, easy to track, and secure across the globe.

5# No limit

As a 3D virtual space, the metaverse removes all kinds of barriers, physical or otherwise. It is an infinite space where there are no limits to the number of people who can use it at the same time, the types of activities that can be carried out, the industries that can enter, etc. It extends accessibility more than current Internet platforms.

6# Virtual savings

Finally, users can participate in decentralized virtual economies powered by cryptocurrencies. This includes marketplaces where users can buy, sell and trade items such as digital assets such as avatars, virtual clothing, NFTs or event tickets.

What can I do in the metaverse?

As the Metaverse is still in a development phase in which companies like Facebook (now Meta) are creating the infrastructure necessary for it to function, the limits of what can and cannot be done are unclear.

Additionally, the intention of its developers is that users can contribute ideas and implement them in the metaverse as technology allows. Here's what you can do in the metaverse:

Work. When presenting his metaverse, Zuckerberg clarified that one of the goals is for it to become a workplace, where people can meet in virtual spaces as if they were physically, and have the tools to hold meetings, work, make presentations, among others.

Article to read: 6 keys to running a business effectively

Enjoy. Attend a concert and have the impression of sharing the same space with the artist and the public. But without leaving his living room, is one of the examples of how the entertainment industry could change. Massive events would have the option of being face-to-face, virtual or hybrid, depending on the needs of the spectators.

Buy now. Although it is now possible to buy online, with the metaverse this practice would be much more real, since the avatar of each user would be used to virtually try on clothes and thus know what one would look like with them.

It would also be possible to interact with the seller in the same way as we do in a real store, asking him questions about the items or asking his opinion.

How is it monetized?

Like Meta, companies like Microsoft, Google, Apple, Epic Games and many more in the tech world are working on developing apps and tools to be part of the new virtual universe.

But there are also companies from various sectors that have been interested in taking advantage of the business opportunities offered by the metaverse, which will configure a new financial ecosystem based on blockchain and cryptocurrencies, and which could be similar to that of the physical world .

For example, the fashion multinational Nike presented Nikeland, a parallel reality located on the Roblox gaming platform, which allows users to exercise or dress up with the brand's clothes using their avatars.

Article to read: Control project costs for greater profitability

The car brand BMW plans to create an exact replica of one of its factories and carry out virtual tests which would then be transposed into real life. The real estate company Metaverse Property sells land in several of the metaverses already created, in addition to managing the rental or maintenance of virtual properties.

NFTs are also part of the metaverse economy, so they can be bought, sold, and displayed in these virtual worlds.

Leave us a comment