Introduction to Metaverse World:
Everybody is talking about Metaverse World; let us know what exactly it is. Metaverse is a combination of two words Meta means beyond, and Verse means universe. So, we can say that Metaverse is something beyond this universe. It is an artificial world where we create our digital identities known as Avatars to attend meetings, play video games, hang out with friends, attend events, etc. we have to wear Virtual Reality (VR) headsets to enter into this Metaverse world.
The term Metaverse was first used in 1992 in the science fiction book “Snow Crash.” Later, a game was launched in 2003, which allowed the users to create virtual characters known as Avatars. The word “Avatar” got in the limelight after the release of the film Avatar in 2009. Recently, Facebook has changed its name to Meta to become the pioneer of this technology. Many tech giant companies like Google, Facebook, Microsoft, Qualcomm, Nvidia, Valve, Epic, HTC, and Apple are all dreaming up new ways to connect online.
Technologies of Metaverse World:
Virtual Reality (VR) is a software-generated environment with scenes and objects that appear to be real, and the user feels it as a part of the surrounding. The user has to wear Virtual Reality headsets or helmets in order to enter the virtual world.
In augmented reality, some artificial elements like objects, scenes, or images are added to the natural world environment to make it more fascinating. So, we can say that it is a combination of both virtual and real worlds and an accurate 3D registration of virtual and natural objects. An example of this is the Pokémon Go game, in which we can see Pokémon’s in the real-world environment. Google had also launched a product in the past known as “Google Glass” in which we could see artificial objects in the real-world environment.
There will be a need of the hour to have 5G technology to implement Metaverse fully.
Blockchain is a chain of blocks that are linked together using cryptography. Each block contains a cryptographic hash of the previous block, a timestamp, and transaction data. So, in this way, a chain of blocks is formed. It is nearly impossible to change the cryptographic hash because you have to make alterations in all of the subsequent blocks simultaneously.
There are many Blockchains as of now. They offer you digital currency, which could be used to make payments in the Metaverse world.
Non Fungible Tokens (NFTs):
Non Fungible Tokens are unique, rare, and not mutually interchangeable. NFTs are used to buy and sell digital artworks. They can be GIFs, tweets, images of physical objects, virtual real estate, video game skins, virtual trading cards, and more.
In the Metaverse world, you can buy virtual property, Avatar skins, virtual event passes, Video games characters, etc.
What are the plus points of Metaverse World?
The metaverse world is taking online interactivity to another level with the help of virtual reality and augmented reality. Let us discuss some of the benefits of Metaverse.
Virtual Offices and learning spaces in Metaverse World:
Individuals and businesses are adopting digital ways of communication due to the Covid-19 pandemic. That is why we see video conferencing applications getting much more popular among people for remote work, online work, and work-from-home arrangements. But, these applications are unable to provide the desired engaging experience.
Metaverse virtual world solves this problem by providing a graphically rich-virtual environment in 3D. It allows us to navigate in a virtual world with our avatars.
Virtual businesses and markets:
The businesses are coming out of two-dimensional platforms and focusing more on three-dimensional surfaces to make them more interactive for the customers and do more realistic marketing.
Social Media Expansion:
The users of the social media platforms are limited to their computer or mobile screens. There was a need of the hour to bring something more to the users. That is why Facebook has changed its name to Meta to give a feeling of presence and enhance interactivity. The company intends to combine virtual reality and augmented reality to make the virtual world more realistic for social media users.
Usecase of Blockchain Technology in Metaverse:
Metaverse complements many Blockchain applications like Non Fungible Tokens (NFTs), Play to earn gaming, decentralized finance, and cybersecurity. One can buy land, Avatars, gaming characters in Metaverse through NFTs.
The play-to-earn concept is being introduced in the gaming industry in which the player is rewarded in the form of a digital asset for playing the game. An example of such a type of gaming is Axie Infinity.
Since everybody cannot afford to travel the whole world physically, Metaverse provides the opportunity to visit the world virtually.
When can we get Metaverse World?
According to Mark Zuckerberg, it can take 5-10 years to implement Metaverse fully. But, according to others, it can take a long time for this type of development.
Is Metaverse going to be successful?
The people had rejected Google Glasses due to the reason that it had not any prime feature that could attract people. Some people said that it had less battery timing, and some people had privacy issues because of the Camera. The same could be the case with Metaverse. The VR headsets do not offer long battery life, and they are big, look weird, and so on. One gets a headache after wearing them for a long time. So, you cannot stay in the Metaverse world for a long time with existing technology. We can expect more compact VR headsets or even no VR headsets in the future.
Metaverse is an emerging technology, and it has some real use cases. The whole world is currently facing a Covid-19 Pandemic that has restricted human life to a greater extent. It is need of the hour to have such a technology that reduces your physical presence and provides you with a virtual space to work, meet, and play games.