Imagine that you meet your family members or friends, not in real life, but in a 3D virtual world, an artificial one. You enter this world while sitting in your room, using a headset or special glasses. In the same way that you work, study or shop, you do almost everything you do in the real world, but not in the real world. Metaverse promises something similar in the future. It is described as the technology that will replace the internet in the future and become the future of humanity. So, read the full blog to know How does Metaverse works, Its technologies, its currencies, what its future will be.
What is Metaverse?
The word Metaverse is made up of two words: Meta + Verse. The word Meta comes from Greek, a prefix that basically means “Beyond”. The verse comes from the word “universe”. We live in this universe, and behind this universe, there will be a Metaverse. This word is mainly used to refer to an artificial universe. The Internet can also be called a separate universe, but when you connect to the Internet, it is basically limited to only two dimensions. Whether you’re using your phone or a computer, these are 2D displays. But when talking about the Metaverse, the Metaverse is going to be a world where you can be completely in it in 3 dimensions.
For example, when you watch a movie in the Metaverse, you will not only see the movie as a spectator, but you will feel like you are in the movie. Although many companies have recently tried to create their own virtual worlds and Metaverses, this word has been made popular again by Facebook. When Facebook decided to change its company name to Meta. They say they want to take over the Metaverse. They want to switch from a social network to a Metaverse company.
According to Mark Zuckerberg’s definition of the Metaverse, “You can do just about anything you can imagine. Get together with friends and family, work, study, play, shop, and create, plus all-new categories don’t really match our understanding of computers and phones today.”
Various techniques are used here to actually create the Metaverse, Like:
- The first is Virtual Reality(VR). This technology already exists today. But to use it, you have to wear those heavy headphones. And if it is worn for more than half an hour, it begins to cause headaches and motion sickness, as many users claim. It is also hoped that these heavy headphones with new technologies will become smaller and thinner, and eventually will be the size of regular glass.
- The second technology is Augmented Reality(AR). This means that some synthetic elements have mixed with our real world. It will not be full virtual reality.
- In addition, there is also talk of the presence of 5G technology in the Metaverse. If we want to create a huge virtual world, we will need to upload and download huge amounts of data constantly, for this we will need very high internet speeds, and we will need 5G.
Currency in Metaverse
When money is spent to buy something in the Metaverse, it certainly cannot be real money, because everything is digital, so a digital currency is needed. This is where cryptocurrencies come into play. And since there are a lot of transactions going on all the time, it should be safe. There will be a threat from hackers or a threat of data leakage. To ensure their security, blockchains can be used.
Also, if you want to buy land in the Metaverse, or some other property, or any asset in the Metaverse, how do you do that? This is said to be done through non-fungible tokens (NFTs). You can think of NFTs as tokens that are on the blockchain and can prove ownership of any digital asset. It is currently used to buy or sell ownership of memes. NFT can also be used to validate concert tickets. If someone is having a virtual party in the Metaverse like many celebrities did last year.
Will Metaverse Idea Work?
This is an interesting question. There have been many inventions related to Metaverse in the past, such as Google glasses, but they all failed. The main reasons for the failure of these inventions are:
They didn’t have a single feature that people really needed. It looked very cool, futuristic technology. And people who owned one could boast about the properties of the glass, but there was almost no actual use. Whatever you can do on these devices, you can already do on your smartphone. And you can do it even better on a smartphone. Something similar can be said about the Metaverse.
It’s so cool to try it out for the first time, seeing how you can sit in a 3D virtual environment and interact with others while having 3D meetings, but really, why bother? Everyone needs to wear glasses, others need to call on the 3D setting, it is easier to get on the phone and make a normal video call. The same goes for meeting friends. You can actually meet them in real life, but even if you want to meet virtually, make a video call with them. Or talk to them through messengers.
Fake Dystopian World
Also, people don’t really want to distance themselves from real life so much that they forget even how to live a real life. To spend our whole lives in this fake artificial world. If this virtual world becomes too immersive and exciting, people will stop worrying about the real world. This is really Dystopian.
The biggest problem with Facebook and Mark Zuckerberg is Privacy threat and data theft. You are tracked on Facebook in every possible way. The exact pixel you click, the content you watch, the accounts you follow, based on that, similar content is shown to you.
This creates bubbles. You stay in your bubble. It only shows you what you want. Since they want you to work in the Metaverse, talk to your friends, your every move will be tracked. Every word you say, they will track it in order to sell ads. The more time you spend in the Metaverse, the more data they can collect about you.
And even after investing $188 billion and even owning the world’s largest VR headset company, Oculus. There are several reasons why Microsoft easily beats META.
- Microsoft has been huge in gaming, both with Xbox hardware and with the purchase of game studios like Minecraft in 2018, ZeniMax in 2020, and the $69 billion purchase of Activision Blizzard in 2022. On the other hand, Meta has less experience in making games and doesn’t have a single game studio yet.
- The early purchasers of personal computers in the 1990s were companies that bought them for their employees to increase efficiency if the same had happened with metastasis. Microsoft has years of experience selling software to businesses while FB was primarily a B2C company.
- Microsoft Teams is a direct competitor to META’s Horizon Workrooms. The only difference is that MS Teams has a daily active user base of 145 million people.
Metaverse, an artificial universe. As we know, some technologies from it that would definitely be popular in the future. But they will be popular in their sectors. Like:
- Offering several options regarding where to work and how to work
- Create a centralized digital work environment that facilitates the transition to remote work.
- Ensures physical security from exposure to harmful viruses
- Meeting our loved ones or hanging out in any place you want virtually
But still, this is an idea which couldn’t be accepted by many due to the issues mentioned above!
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