Web3 is defining the internet to its next blockchain enabled avatar, transforming internet of information to internet of value, on a decentralized and immutable technically sound model. The other unravelling technology termed as Metaverse, likely to take the world by storm, is a ”public virtual world.” It is radically different to the loose use of the general internet synonym, virtual world. ”A Metaverse is a network of 3D virtual worlds focused on social connection.” Talking of it as a science fiction becoming reality, the internet becomes one single virtual world. This would be brought to life by the user donning virtual and augmented reality headsets.
It has its origin in the 1992 Snow Crash fiction novel as a portmanteau of meta and universe. In simple terms Metaverse can be thought of as the world’s digital counterpart. Represented by avatars, it becomes an extension of the real world. Not only the avatars, the whole human living ecosystem is mirrored. It seems the world is moving towards the Metaverse at a fast pace. Everyone is embracing it, from the tech giants like Microsoft and Facebook to Robolox and Epic Games. Some futurists define it as a collective virtual shared space. ”It is the perfect fusion of physical, augmented and virtual reality.” The Metaverse as expected would be accessed through the internet.
The fascinating part is that several components of the Metaverse have already been developed in the fold of modern internet enabled video games. Second Life, 2003, a virtual world platform has been variously described as the first Metaverse. The current conception of Metaverse is encompassing the entire gamut of social and economic structure that exists in both the actual and virtual worlds. The best part of Metaverse is that it is a living and breathing experience. It does not pause or end like a game. Avatars, content, and goods all travel around freely. Individuals can communicate and transact with each other and with digital 3D items. You can walk around with your friends, visit places and buy things. You can also attend events in such environments.
Gaming has provided first of its environments, its own distinct worlds. Epic Games accomplished a great deal in this direction with Fornite. They were able to organize complete concerts. In 2019 Facebook launched a social VR world called Facebook Horizon. ”In 2021 Facebook was renamed “Meta Platforms” and its chairman Mark Zuckerberg declared a company committed to developing Metaverse. Nonetheless, the hard fact is that many of the virtual reality technologies advertised are still to be developed. As Metaverse is dependent on VR technology, it has limited its development and wide-scale adoption. Once the technical handicaps are gotten over, the future is extremely bright. ”The Metaverse has no bounds. Allowing individuals to imagine endless spaces that aren’t constrained by geography.”
METAVERSE IS THE NEW DIGITAL UNIVERSE.