Metaverse: What Is It and What Can We Expect?

Over the last few years, the digital landscape has evolved exponentially, opening several new avenues of comfort, leisure, connectivity, and fun. The fireball of technology sparked by the pandemic not only made the people around the world over-reliant on digital solutions like video-conferencing apps, online learning platforms, ecommercee-commerce platforms, and online management software, but it also made the tech giants come up with some remarkable technologies to keep the world connected together.

Mobile games like Fortnite and PUBG, and apps like Zoom saw tremendous growth during the pandemic. People being confined to in their homes enhanced internet connectivity, and ease of use were the main reasons behind this revolution. These games and apps connected ‌users virtually and brought the world closer.

The rapidly increasing need to stay connected and the continued advancement in technology have laid the foundation and created conditions that gave birth toof a new technological phenomenon known as the metaverse.

The term metaverse has been making the rounds lately, especially after Facebook changed its name to Meta in October 2021. The term was coined by author Neal StephensonAuthor Neal Stephenson coined the term in 1992 in one of his famous sci-fi novels, Snow Crash. In the novel, the term is described as a phenomenon in which a virtual reality environment existed where human-like avatars of people met in realistic 3D buildings.

Since then, multiple technological developments have laid the groundwork for the real metaverse. It ise, a digitally modified virtual environment integrated with 3D holographic avatars, augmented reality, video, and virtual reality. The growth of this phenomenon will offer people a hyper-real alternative world powered by the internet.

Glimmering hints of ‌the ‌metaverse are already a part of multiple online games like Roblox, Minecraft, and Fortnite. AndMoreover, almost all the major online gaming companies are determined to be a part of the metaverse’s evolution.

Although tThe term “metaverse” entered common usage over the course of 2021, instigating a debate globally about who will own it and whether or not it is already here. However,, we still don’tdo not have a clear and acceptable definition of it, and there is a lot about it that we are still not aware of. Multiple speculations have made the rounds. For instance, it is said by some thatsome “metaverse may replace the internet and social media.” There are also conjectures that the metaverse has something to do with NFTs and cryptocurrency.

To understand the possible implications of the metaverse, we first need to know exactly what it is, how different technologies coame together to make it possible, and how different companies are integrating metaverse into their business goals.

What Is Metaverse?

Metaverse is a combination of multiple technological elements such as video, augmented reality, and virtual reality, which allows users to access a new digital universe and live within it. Metaverse supporters aim to create a virtual space where users can work, play, and shop. Be it attending concerts with friends or conducting work meetings, all will become possible in the Metaverse.

The metaverse will essentially redefine how we interact, connect, play, and work. Although many experts believe that 2022 will be pivotal in the metaverse’s history, it will still take years to build and inculcate widespread usage of it.

How Different Tech Giants Are Exploring Metaverse?

The year 2022 will demonstrate which company is most likely to own the metaverse and how most of the tech giants are going to embrace this new phenomenon. Below mentioned are a few examples of how different companies are pursuing metaverse:

Roblox

This online gaming platform offers its users a wide range of user-generated games. Some of these games include Brookhaven and Bloxburg, in which users can work, play out scenarios, and design and build homes. Roblox was founded in 2004 and is now worth more than $45 billion. In March 2021, the CEO of Roblox, David Baszucki thanked everyone on Twitter who brought him and his company a step closer to his vision of the Metaverse. Since then, Roblox has been making strides by opening a limited Gucci Garden that will allow users to dress and accessorize their virtual selves in Gucci and purchase what they like. It also joined hands with a skateboarding shoe company, Vans, ‌to create a virtual skateboarding park named the Vans World. In this, , where the players will be dressed in newly launched Vans shoes and gear.

Microsoft

Microsoft has already implemented the use of holograms, which is a significantly important technological element in the metaverse. The software is also developing a combination of virtual reality and augmented reality known as extended reality applications with the help of its Microsoft Mesh platforms. In 2021, Microsoft announced to the public how it plans to integrate mixed-reality, which will entail virtual avatars and holograms, into Microsoft Tteams in 2022. The company is also working on 3D virtual spaces for work and retail. Besides that, Microsoft is currently working with the U.S army to create Hololens 2, an augmented reality headset that will allow soldiers to rehearse, fight in, and train.

Minecraft

Minecraft is a video game series owned by Microsoft. It is a virtual universe and digital equivalent of Legos, where users (mostly kids) can build anything they want, be it buildings or their own digital characters. After the pandemic, when the kids were confined into their homes, the popularity of Minecraft exploded. A, and ever since then, it has only grown, so much so that as of August 2021, 140 million monthly active users.

Epic Games

This is another video game company that is invested dedicated toin building and creating the metaverse. The company held concerts by Travis Scott and Ariana Grande, showed many music debuts and movie trailers. Its mot captivating demonstration of the metaverse was the , and even a captivating reimagining of the “I Have A Dream” speech by Martin Luther King Jr. from 1963 in an attempt to add fuel to the idea of the metaverse.

What Can We Expect to See from Metaverse in the Future?What Can We Expect To See From Metaverse In The Future?

Over the years, due to the widespread rapid growth in technology and digital innovation, there is now an increased dependency on technologyit. Most of us can’tcannot even fathom going a day without the internet. High-speed internet services have become a need and it has now become increasingly easy to get access to such a connection. All an internet user needs to do is call ‌Windstream cCustomer sService and subscribe to one of its internet deals.

We have embraced technology and made it our way of living, and it is obvious that whatever the tech giants of the world will throw our way, we’llwe will welcome it with open arms.

Metaverse is a new yet unique technological phenomenon pursued by the tech experts of the world, and it will most likely change the digital landscape completely. This decade may just be known for the invention and growth of the metaverse, which promises to be more interactive, collaborative, and immersive than everything that the internet has offered so far.

Although Manya lot of promises have been made by the entrepreneurs of popular tech companies who are actively trying to pursue metaverse. However,, it is abundantly clear that the one technology that will most likely help create a sustainable ecosystem for all the players involved and underpin metaverse is Blockchain technology. It is also safe to say that the metaverse will have an impact on traditional business activities and jobs, and its impact on how people interact with one another and the overall society will be profound.

When the COVID-19 pandemic hit the world, the internet and the ensuing remote work technology solutions helped businesses stay afloat. A number ofSeveral industries including education and healthcare,healthcare have changed drastically post-pandemipandemic. Over time, cthese industries have become and over time have become more technology-intensive. These sectors will undergo some more radical changes with time as the introduction of the metaverse and the virtual reality-based wearables will give people access to a virtual world.

Metaverse will make it easy for people to interact and socialize with one another without the need to go through the hassle of undergoing long commutes or dressing up. Children will be able to expand their horizons by studying different modules and subjects in the virtual environment set up by them. For other leisure activities like attending concerts or watching movies with friends, there will be different spaces in the metaverse free of all the hassles and hurdles involved found in the physical world. To sum it up, there are endless possibilities with the metaverse.

For an ecosystem to thrive, it needs to have a structure in place that allows for easy transactions. This is where established cryptocurrencies will come into play. Besides that, the ability to convert fiat currencies to cryptocurrencies will also make it easier for people to switch between the metaverse and the physical world with ease.

Users of the metaverse will have the ability to buy their own virtual land, digital avatars, and eveneven conduct meetings, and throw parties using the crypto tokens issued by businesses promoting these virtual interactions.

Musicians, actors, singers, dancers, and other all types of artists will be able to present their art form in the metaverse and get paid in crypto tokens. The growth of the metaverse will eventually lead to an expansion in value unlocked and growth in the global economy as well.

Final Words

Technology has evolved over time and so have our needs. About a decade or so ago, when social media platforms were establishing themselves as the primary medium of communication, little did we know that the growing popularity of these platforms would lead to several other digital revolutions. These platforms have increased the need to interact with people around the world. Communication was made effortless. After all, people only needed an account on a social media platform and a high-speed internet connection which they could get by calling on Windstream pPhone nNumber.

This need to interact with people using digital means has grown with time. D, due to which this, experts keep experimenting with technologies to bring about a digital aid that will fulfill a person’sperson’s social needs. That is how the metaverse came into existence.

There are still a lot of unknowns when we talk about the metaverse. Much of what we know right now is mostly imagined, envisioned, or predicted. Before ‌the widespread adoption of this technology, there are many significant challenges that still need to be addressed.

The big tech giants that are fueling the idea of the metaverse must address security, privacy, legal, and accessibility issues. As the year progresses, the apprehension of these concerns will lead to decisions, discussions, and actions that will aid in the growth of the metaverse.