Our Growing Metaverse, Explained
Unless you’ve been living under a rock, chances are you’ve already seen the term “Metaverse” floating around for quite a while. While the metaverse enthusiasts cheer for it to replace the Internet, others think it’s home to a future digital life. There have also been speculations about companies such as Facebook trying to take over it and recent news don’t seem to be in denial either.
Regardless of these predictions, it’s more important to learn about the metaverse itself before we jump to conclusions. For those catching up a little late, here’s what the metaverse is with some of my two cents on its future.
What is the Metaverse?
Let me start from the beginning. The term itself originates from as far back as 1992 in a sci-fi novel titled Snow Crash. The author- Neal Stephenson coined this term to define a virtual world that could connect the entire globe at once in real-time… and boy was he right.
The Metaverse cannot be described in any words better than his depiction. Due to one apparent reason — there is no agreed by and large definition of a metaverse, other than the idea that it’s a suitable successor to our long-loved Internet.
For some people, it can still just be the same old VR Chat with a new and cooler title. Facebook (arguably, the most dominant company over this tech) has tried to explain the metaverse more diversely. They define metaverse as a space where two users can create and explore without physically being close to one another.
In more recent times, the metaverse has been understood as a digital world that isn’t fixed to certain attributes alone. It can be stated as a more motivational title given to a futuristic digital world.
The Metaverse is a more eccentric topic than others to cover since there can still be developments set in place currently. However, it should be noted that notable firms such as Facebook have stated that the metaverse isn’t a one man’s job. Just as the Internet is today, the metaverse could be the same tomorrow.
Growth Of the Metaverse And Where Billions are Involved
There’s no wonder that global companies are watching the emergence of metaverse keenly. Metaverse is the evolution of technology. If we take a look at its early discoveries, we can see its formation and implementation.
Many elemental foundations of the metaverse have unfolded, right from the origin of the Internet to the introduction of Proof of Work in 1993.
There have also been breakthroughs such as in the 2000s. This was when the application named Second Life was developed by Linden Lab. It enabled users to build an online virtual avatar, chat, play games, buy and sell virtual clothes and make digital houses.
In 2006, another gaming platform named Roblox emerged. It was ranked the third position as being the highest-grossing game in 2020 as people used the application to interact amid the COVID-19 pandemic.
This vast acceleration of virtual reality and augmented reality, gaming, 3D virtual environment and digital assets like NFTs have all proliferated in the pandemic. The concept of sharing online spaces is not only limited to tech companies but is becoming a leading concept in video games companies.
Epic Games, the company that developed Fortnite, is planning on building the metaverse and has raised $1 billion from investors for the same.
The same trend can be seen in brands like Gucci who are collaborating with Roblox to release its digital accessories.
Metaverse and Us — The Future
Metaverse is looked at as futuristic technology with several advancements still yet to follow.
Big tech companies are leaping towards the metaverse due to its potential of building a new universe system that replicates our physical world.
Moreover, the fun part begins with the metaverse’s wide spectrum of elusive features in augmented reality.
Metaverse is perceived as the next development of the internet by allowing people to interact with each other in a multidimensional environment. This combination is not exactly new but earlier was restricted to the gaming sector only.
However, it’s now being explored to deeper ends, so digital content can be perceived, explored and manipulated in new forms. Try imagining going through your Facebook feed in Fortnite or Minecraft. With augmented glasses of course.
Altogether, the metaverse is fresh and is even called the next big thing! The world could soon be introduced to different variants of the metaverse since it’s a flexible environment that displays our physical world. As of now, the metaverse journey has just begun and will develop further with time but it’s catching a lot of attention due to its shift into the tech industry like the gaming sector. Several businesses are looking at metaverse as the latest medium to exchange content or data.