Metaverse: Everything You Need to Know About!

• By Janet Xulu
• 11-02-2022
• Technology

The concept of Metaverse has been around for a very long time. In fact, there have already been several innovative messaging platforms developed using this concept. Ones that allow you to portray yourself in a 3D Avatar and communicate with other online members in various virtual settings. This is the concept of merging digital, virtual, augmented, and physical reality.

The CEOs of several major online platforms frequently mention metaverse and how it is likely to be the future of the Internet. There are a wide range of applications like innovative media games or an online meeting platform. It can be described as a 3D virtual world to connect with other people. It implements various technologies like AR/VR, AI, and more. This article provides more information about what Metaverse is all about.

What is Metaverse?

Metaverse is a combination of various elements like technology, virtual reality, augmented reality and more. Virtual reality is a big part of this, and it is expected to be an integral part of various industries and change the way we work, live and play. There are many applications of this like a virtual concert, digital clothing, wallets, and even a virtual office.

Does Metaverse Exist?

It is understandable to be under the impression that Metaverse doesn't exist yet. However, this is not true. It does exist to some extent, and is expected to evolve into something bigger. Some of the main features of Metaverse include a high level of scalability, interoperable, real-time, 3D virtual worlds, synchronous, persistent, personalization. There are many major firms with big plans for metaverse and investing big in this technology.

Some practical examples of Metaverse include:

• Facebook which is not called Meta has already acquired Oculus which is a major firm invested in virtual reality technology. They are expected to develop a platform that combines all their current applications.
• Microsoft has already implemented several technologies like holograms, virtual reality and more that combine real-world elements with virtual, and augmented reality. This is likely to be expanded, and integrated with their existing software like Microsoft teams and many more.
• Epic Games have also invested big in this concept and this is likely to be visible in their game releases.
• Minecraft is also committed to developing virtual worlds allowing users to create their own digital characters. This is a firm owned by Microsoft.

Is Metaverse for You?

Several firms can take advantage of what Metaverse has to offer. This does not mean having to invest big in technologies like NFT or Virtual reality. This technology will be very beneficial to customer-centric businesses since all customers prefer innovative features and a good experience. Horizon world by Meta is one such application that has implemented this concept and is expected to expand further. Companies investing in cryptocurrency and blockchain technology too can take advantage of this. It is one of the best methods of offering a personalized experience to the customers

Metaverse Applications

• Video games: Virtual reality and video games go along very well. In fact, this concept has been explored by several novels and movies already. Video games feed on technologies like 3D, AR/VR, AI/ML which is the very basis of the Metaverse concept. Video games can offer various features that combine the real world with the virtual one. Several games like Roblox and Fortnite have already begun taking advantage of this concept in the form of virtual in-game music tours and other activities.

• Crypto: The virtual world has a lot more to offer than just games. The world of crypto technology can also implement this concept. The virtual world is expected to become big soon and it too will have a need to use virtual items and virtual currency. This is where crypto fits in. It is expected to be implemented as it has some of the major features that are ideal for the virtual world. It can provide users with proof of digital ownership. IT is both a secure and robust method of establishing ownership. NFT allows one to create unique objects that are impossible to forge or copy. Thus blockchain can help provide proof of ownership of physical items. It also makes the transfer of items simpler and can be implemented as currency in multiplayer games.

• Advertising: It is the ideal platform for advertising and brands to score big points for innovative ads. It is the ideal platform for car manufacturers to allow users to test drive their vehicles in the virtual world. It is also the ideal method for travel companies to provide a preview of the location and generate the interests of the customers. This can also be used by real estate agents for showcasing their commercial and residential properties.

• Virtual Reality: Social networks can implement this concept to create a virtual world and provide more innovative methods for users to socialize. In fact, Facebook has already launched a VR world called Facebook Horizon. Microsoft too has opted to use this concept by acquiring Altspace. This offers a virtual world that offers features like virtual avatars, virtual reality, etc.

Future of Metaverse

Metaverse development companies are bringing change in a big way and is being widely accepted by many industries and all types of users. All types of consumers find personalized content very appealing as do they find using innovative platforms. They like having a good, unique, and diverse experience which this offers. Smartphones are getting more technologically advanced as are laptops. There are also various other technologies like augmented reality (AR), mixed reality, virtual reality (VR), etc. that are also developing further.

Some of the common features of a meta avatar include the ability to create your own innovative avatar and also design your own virtual outfit. One can expect to find applications where the real worlds merge with the virtual ones. Thus, this means one can explore a city like New York from the comfort of their living room. One can explore the various sites and famous places in the virtual world. This is something that a high percentage of people find appealing hence it is expected to grow in popularity.