You may have noticed “From Meta” in your Facebook, Instagram, or WhatsApp apps in the last few days. This is due to the parent company of Facebook. Changing its name to Meta in order to speed up the Metaverse’s growth.
It’s not just Facebook and Meta that are investing extensively in the Metaverse; Google and Microsoft are as well. Why are they putting money into the metaverse? So, what exactly is it, how does it function, and what does the future hold? Coming up next to web 3.0 also.
The question of why they are investing in Metaverse will become evident, fully or partially, once you realize what Metaverse can become. The Metaverse is a virtual or semi-virtual world that may be accessed by virtual and/or augmented reality headsets, each of which provides a unique experience.
Imagine a virtual world setting where you can stroll around, meet people, and buy whatever you desire, but it will be delivered to your real home or consumed digitally. You and your buddies can enter a virtual multiplex and enjoy movies, Metaverse gaming, virtual reality videos and VR movies with VR technology together.
Basically, we do everything socially, but there is a virtual environment that will feel more real. You can even communicate with colleagues and classmates in a virtual work or study environment. Take a virtual vacation to any part of the globe while sitting in your living room with your buddies on different continents.
Imagine a virtual world setting where you can stroll around, meet people, and buy whatever you desire, but it will be delivered to your real home or consumed digitally.
You and your buddies can enter a virtual multiplex and enjoy movies together. Basically everything we do in social situations, but in a virtual world that feels more real. You can even communicate with colleagues and classmates in a virtual work or study environment.
By being in your living room with your friends from 4 continents, you may take a virtual vacation anywhere in the world. A Metaverse will be like that. Some of it is already taking place. You can think of it as the Internet’s 1990s, but the Metaverse’s growth will be considerably faster.
Metaverse will make use of virtual and augmented reality, web 3.0, and Blockchain. The Blockchain component is what will set this apart from the internet world, or Interverse, as I refer to it. Actually, the only thing you own or can own in your own name on the internet is a domain name.
The remainder of the accounts, such as Facebook, Instagram, WhatsApp, Gmail, and others, are owned by the respective corporations. You can own a lot more in the Metaverse. You will be able to buy anything you desire with Blockchain NFTs. This needs to be explained.
You can own digital works, and when someone buys them, you and any intermediaries, if any, will profit since your NFT will identify you as the content’s original owner.
Consider a virtual supermarket where you can enter using your avatar, purchase what you need, and have the real items delivered…to your home in minutes. You can enter a metaverse conference room with your coworkers or students and engage with each other instead of taking the long drive and suffering from traffic jams. Other users can directly or indirectly purchase your digital products (NFT), allowing you to earn money.
As it interacts and augments with the physical world, augmented reality-based Metaverse’s may have a more immediate impact. We will live in our Universe, Interverse (current Internet technology), and Metaverse’s of our choosing once these Metaverse’s take off.
My first encounter with a desktop computer was in the computer lab at my high school in 1995. No one could have predicted the massive technological advances that occurred in just two decades. We may see the rise of Metaverse’s (virtual humans) around us in the next two decades. It will be virtual metaverse time in the near future. Virtual reality applications will be quietly released.
Facebook’s recent announcement of a ten-billion-dollar investment in its metaverse has reignited the argument. In the Metaverse, however, Facebook (now renamed Meta) isn’t the only game in town.
In 2022, these will be the top three Metaverse platforms:
Ari Meilich and Esteban Ordano founded Decentraland, an open-source 3D virtual world platform, in 2015. (Both from Argentina).The platform’s digital Land had a $20 and its cryptocurrency, MANA asking price when it launched in 2017, the platform was made available to the public in Feb’20.
Somnium Space, the brainchild of Artur Sychov, is a virtual reality world in the Metaverse. The platform’s first working drafts were released in 2017. Somnium Space has been open to the public since September 2018. Somnium Space has uneven topography, as well as Somnium Space CUBEs, an erc20 token. VR, PC, and Web are all used to access the area, which is also mobile-friendly The most attention is given to the virtual reality experience.
In 2012, Arthur Madrid (CEO) and Sébastien Borget founded Sandbox as a game (COO). Animoca Brands purchased the company in 2018, and added 3D and blockchain to the game. The metaverse shifted in November 2021. The SAND money is used by Sandbox. The organization is working with a number of partners in the entertainment, finance, gaming, real estate, and Hong Kong film industries to create a virtual Mega City.
