In the year 2022, when new words emerge daily, it is not surprising that some of us are confused about these matters. Nonetheless, a particular word seems to be generating a lot of buzz at the moment; I mean, it’s all over the internet these days, and you may have become frustrated not knowing what it means. Today, we will delve deeply into what a METAVERSE actually entails, so there is no need for further annoyance.
What is a METAVERSE
With all the commotion in the world, one might wonder what the word signifies. Today, I will discuss its meaning in relation to various disciplines. As a portmanteau of “meta” and “universe,” the term “metaverse” originated in the 1992 science fiction novel “Snow Crash.”
The term “cyberspace” first appeared in William Gibson’s groundbreaking 1984 novel “Neuromancer.” In “Snow Cash,” the metaverse is depicted as a planet-circling market where virtual real estate can be purchased and sold, and where VR goggles-wearing users inhabit 3D avatars whose appearance they are free to select.
Subsequently, metaverses have been developed for widespread use, including platforms for virtual worlds such as Second Life. Some iterations of the metaverse integrate virtual and physical spaces and virtual economies.
As a result of the demand for greater immersion, metaverse development is frequently tied to the advancement of virtual reality technology. In futurism and science fiction, the internet can be viewed as a single, universal virtual world made possible by virtual and augmented reality headsets.
An additional definition implies. The metaverse is a virtual universe that integrates various internet functions and services, such as socializing, gaming, and business opportunities, within an immersive virtual reality setting.
A metaverse is also a network of 3D virtual worlds that emphasize social interaction. This definition appears to be the source of all the buzz, given that it is used for public relations purposes to exaggerate the development progress of various related technologies and projects.
Information privacy, user addiction, and user safety are concerns within metaverses, as a result of difficulties facing the social media and video game industries as a whole.
Further investigation reveals that the term “metaverse” does not refer to a specific type of technology, but rather a shift in how we interact with technology. The technologies that comprise the metaverse may include persistent virtual worlds in virtual reality and augmented reality that combines aspects of the digital and physical worlds.
However, it is not required that these spaces be accessed exclusively through VR or AR. Metaverse could refer to a virtual world accessible via PCs, game consoles, and even mobile devices, such as Fortnite. Consequently, it also facilitates the production, purchase, and sale of goods, resulting in a digital economy.
Ideally, it also permits data exchange and communication with another system or device. Therefore, this implies that the metaverse enables users to take virtual goods such as phones or shoes from one platform to another, just as it is possible in the real world to purchase a phone and then take it to a mall to purchase a shoe.
In an effort to make the metaverse as realistic as possible, most platforms have avatars, virtual identities, and inventories that are tied to a single platform. However, a metaverse may allow you to create a persona that you can take everywhere, similar to how you can move your profile pictures from one social network platform to another.
ELEMENTS OF THE METAVERSE
In current conceptions of the metaverse, VR interface, digital ownership, and avatars play a prominent role. However, none of them are essential to the concept. Consequently, there are essential components to its existence. They consist of;
1) Presence: This is the sensation of being physically present in a virtual space with virtual others. Decades of research indicate that this sense of embodiment, which can be attained through virtual reality technologies such as head-mounted displays, enhances the quality of online interactions.
Secondly, interoperability. Interoperability is “the capacity of a product or system to interact and function with others in a mutually beneficial manner.” This implies that the metaverse enables seamless travel between virtual spaces using identical virtual assets, such as avatars and digital objects. A platform such as ReadyPlayerMe, for example, enables users to create an avatar that they can use in hundreds of different virtual worlds, including Zoom meetings via apps such as Animaze. Moreover, blockchain-based technologies, including cryptocurrencies and nonfungible tokens, can facilitate the transfer of digital goods across virtual borders.
3) Standardization is what enables the interoperability of platforms and services across the metaverse’s borders. For widespread adoption of all mass-media technologies, from the printing press to text messaging, common technological standards are required. These standards are established by international organizations like the Open Metaverse Interoperability Group, whose mission is “to connect virtual worlds by designing and promoting protocols for identity, social graphs, inventory, and more.”
HOW IS THE METAVERSE FUNCTIONAL?
The metaverse is, in layman’s terms, a vast virtual space powered by technologies such as VR, AR, blockchain, and a creator economy. All of these technologies combine to provide users with immersive experiences in the virtual metaverses. Users can engage in a variety of activities, including interacting with other users, collaborating with coworkers, and playing games with friends.
In addition, the platforms of the metaverse have their own independent economies with native mediums of exchange, which are typically cryptocurrencies. Fictional works such as Ready Player One and Free Guy serve as notable examples of the metaverse. Using VR headsets and Extended Reality devices, players can enter virtual worlds with their own autonomous economies. In Ready Player One, the OASIS is the virtual world, and players can access it using advanced XR technologies.
Positives and negatives of the METAVERSE
In 2021, the metaverse gained widespread attention. This is the result of the coronavirus pandemic, which altered global norms. With people spending so much time in Zoom meetings for work and video game usage soaring as people seek to enter more colorful and exciting environments without leaving the safety and comfort of their homes, it’s only natural for tech companies to look for ways to profit by bridging these two needs. As a result, as the metaverse’s popularity continues to rise, the discussion of its advantages and disadvantages has gained momentum. Consequently, we will be discussing some.
PROS
1) It connects the world and eliminates physical distance: One of the most intriguing aspects of the metaverse is that it completely eliminates geographical barriers. As soon as you enter the virtual world, your physical location becomes irrelevant and you are no longer constrained by it. The metaverse will function as a neutral space where all parties can meet on an equal footing. Additionally, finding and meeting people with similar interests and ideas will be easier, will feel more genuine, and will allow you to feel more at ease meeting new friends from the comfort of your own home.
2) Innovations in Communication for Workplaces and Educational Institutions: In 2020, a raging pandemic seized the entire world and taught us the value of remote work. Globally, businesses began adopting digital technologies and online tools for communication. Therefore, remote working or work-from-home routines have become quite common for businesses and employed individuals to continue operations.
In the event of restrictions on face-to-face interactions, educational institutions have also acknowledged the value of remote or distance learning. The pandemic was a major factor in the rise of video conferencing platforms such as Google Meet, Zoom video calls, Microsoft Teams, and others.
3) Immersive experience: Imagine the metaverse as a 3D upgrade to traditional internet usage. A more immersive way to experience the various aspects of the Internet and everything it has to offer. The greatest benefit of the metaverse is that you become more immersed in your activity. You experience everything in the most immersive manner, which opens up more opportunities for personal and professional endeavors. In a virtual environment, you can exercise, socialize, play games, and conduct business meetings.
4) Doubling the Effectiveness of Blockchain Another promising response to the question “What are the benefits of the metaverse?” highlights the possibility of using it to support blockchain applications. Blockchain is the underlying technology that underpins cryptocurrencies such as Bitcoin, Dogecoin, Ethereum, and many others.
It is essential to note, however, that blockchain can serve many other purposes besides the creation of crypto tokens and coins. It can serve as a distributed or decentralized database for storing transaction records. With the assistance of NFTs, blockchain applications in the gaming industry can diversify with new trends. So, where do the metaverse professionals fit into this scenario? NFTs are appropriate tools for promoting the new model of play-to-earn games, in which players can acquire tradable in-game digital assets.
5) New Branding Opportunities: The impact of social networking sites and platforms on the media industry is undeniable. The primary platform for promoting their products and interacting with their target audience is social media. The new platforms for branding and marketing grant the target audience the ability to generate brand-related content. In addition, social media has created numerous opportunities for businesses and marketers to promote their products and services. Social media are also producing better results than traditional media, resulting in the emergence of new marketing trends.
CONS
1) Requirement of Advanced Digital Technologies: The first entry on the list of metaverse disadvantages is undoubtedly the necessity of advanced digital technologies. Metaverse introduces numerous innovative and cutting-edge technologies, including VR headsets, haptics, blockchain, and other necessities. However, not every person on the planet has access to advanced technologies. For instance, one of the mandatory requirements for participation in the metaverse is a fast Internet connection. The majority of the world’s population lacks access to high-speed Internet and cannot exploit the full potential of the metaverse. In addition, the disadvantages of the metaverse highlight the need for advanced communication tools and devices. Many individuals cannot afford an expensive VR headset to enter the metaverse.
2) Cybercrime is a serious issue that has plagued the internet ever since its inception. Governments have spent millions of dollars and years combating it, thereby enhancing the security of our current internet systems. However, because the metaverse is a relatively new concept, it lacks these advanced cyber security measures. This makes it highly susceptible to a variety of illegal activities, including fraud, money laundering, child exploitation, illegal goods, services, and cyberattacks, to name a few.
3) Effects detrimental to cultures and societies: One disadvantage of bringing everyone so close together and fusing the various cultures of the world into one is the loss of the world’s beautiful cultural diversity. If people spend the majority of their time in the metaverse, they will no longer feel connected to their immediate society and will not feel the need to embrace their local or regional culture. This may eventually lead to the demise of many traditions that have existed since the dawn of humanity and will likely result in the formation of a new society that, despite being unifying and all-encompassing, may become monotonous and uninteresting.
4) Addiction issues: Like gaming, addiction can become a problem. Some argue that there is a greater risk of addiction in the metaverse because you are completely immersed in a virtual world. Aside from physical necessities such as eating and sleeping, you do not need to leave your VR setup. Experts believe that exposing individuals under the age of 18 to the metaverse and allowing them to spend an excessive amount of time in it will have detrimental effects on their development.
5) Losing connection with the physical world: The ease with which you can lose track of time in the metaverse is a major concern for many people. As your senses are effectively disabled, or to put it another way, they are linked to the virtual world rather than the real world. People who are exposed to the metaverse for an extended period of time may lose their connection to reality and may go further, refusing to acknowledge the existence of a physical world.
The average American spends approximately 5.4 hours per day staring at a screen, exhibiting a degree of this type of behavior.
IS THE METAVERSE THE FUTURE OF THE FUTURE?
If the metaverse becomes the successor to the internet, who and how it is built will be crucial to the future of the economy and society as a whole. Facebook seeks to play a leading role in shaping the metaverse, in part by making substantial investments in virtual reality.
Mark Zuckerberg, the CEO of Facebook, stated in an interview this summer that, in his opinion, the metaverse encompasses both non-immersive platforms, such as social media, and immersive 3D media technologies, such as virtual reality, and that it will be used for remote work and play.
The metaverse may one day resemble the flashy fictional Oasis from Ernest Cline’s “Ready Player One,” but until then, you can get a taste of the immersive and connected metaverse experience through games like Fortnite and Roblox, virtual reality social media platforms like VRChat and AltspaceVR, and virtual work environments like Immersed. As these compartmentalized spaces converge and become more interoperable, a truly unique metaverse will emerge.
Here is where we close the curtains. I hope you’ve gained some knowledge. Merci for reading.
