The metaverse concept doesn’t seem to be new. The 1992 novel Snow Crash first introduced the concept. Many companies developed online communities using the same concept later, including Second Life, which was released in 2003.
People use avatars in the metaverse to communicate with one another and build a community. Digital currency can be used in the metaverse to purchase clothes, weapons, shielding and other items. You can also use a virtual reality headset to travel the metaverse, with no specific goal.
Snow Crash was a more dystopian vision of the future that didn’t portray the metaverse as a positive. The term metaverse was first coined by Neal Stephenson as a type of next-generation virtual reality-based Internet.
In Stephenson’s metaverse, status was achieved through technical skill. This was represented by the sophistication and level of an avatar. Access to restricted environments was another indicator of status, which is a precursor to today’s paywalls or registration requirements.
Ready Player One by Ernest Cline was another book that popularized the concept of the metaverse. Steven Spielberg later directed the movie. The dystopian sci-fi novel of 2011 is set in 2045. People escape from the problems plaguing Earth by living in a virtual world called The Oasis. The world is accessible via a virtual reality headset and haptic gloves, which allow users to touch and grab objects in the virtual environment.
Difference between the Internet and the Metaverse
The internet is a network that includes billions of computers and millions of servers. Internet users can communicate with one another, view and interact on websites, as well as buy and sell products and services.
The metaverse does not compete with the internet, it simply builds upon it. The metaverse allows users to explore a virtual world that replicates the physical world with the use of technologies like virtual reality (VR), AR, and AI. It also offers digital currency and social media. People “browse” the internet. However, it is possible to “live” in this metaverse.
Learn more about mixed reality, AR and VR here.
Even governments can expand their reach into the metaverse. Barbados , for example, has a relatively small presence on the internet. However, it plans to open a diplomatic embassy in the metaverse, specifically the online world Decentraland.
Many services have emerged from the internet’s growth, which is leading to the creation and expansion of the metaverse.
Ben Bajarin, a Creative Strategies analyst, said that “In gaming, Roblox, Minecraft, and other immersive videogames — and even Zoom — foreshadow the metaverse’s design to offer.” “You even have some digital presence on social media.”
He says that it is up to the users of the metaverse to decide what form they will take. It will be open, like the internet. Will it be closed to the public like the internet?
Metaverse companies
These are just a few of the many companies that have their own metaverse visions.
Mark Zuckerberg, Facebook CEO, stated that the metaverse investment was a fundamental shift and part of a new vision for his company.
He stated that Facebook is a metaverse first company, and not Facebook-first. This is a significant change, as it means that users won’t have to create a Facebook account in order to access other services in the metaverse. Facebook already has millions of Oculus VR headgear units that can be used to navigate the metaverse.
Epic Games
Epic Games, the makers of Fortnite, an online multiplayer game, and the Unreal Engine software, were planning to claim a stake in the metaverse in 2021 with a $1 billion funding round. The $200 million came from Sony Group Corp.
Epic Games’ vision for the metaverse is different from Facebook’s. It wants users to have a place to connect with brands and other people, without having to scroll through a lot of ads.
“I believe this aligns with our purpose of filling the world with emotion through the power creativity and technology,” stated Kenichiro Yoshida (chairman and CEO, Sony Group Corp.) in a statement.
Microsoft
Microsoft Teams will soon have the metaverse — an online meeting platform that rivals Zoom. It announced that it will launch Mesh for Microsoft Teams by 2022. This new service allows Teams users from different locations to share holographic experiences and collaborate during virtual meetings.
It announced Mesh allows users to establish a virtual existence from any device by creating an avatar. This announcement builds on Mesh for Microsoft’s earlier announcement. It is a platform for developers that offers a suite AI-powered tools to enable avatars, session management and spatial rendering. Synchronization across multiple users can also be achieved. Holoportation allows users to create and send high-quality 3D models for people in real-time using 3D capture technology.
Microsoft and Accenture have been working together to create Mesh-enabled immersive environments. Accenture employs over 100,000 people each year, and Mesh is used to help them onboard new employees.
The new hires are instructed on how to create a digital avatar, and to access One Accenture Park — a virtual space that is part of their onboarding process. This futuristic space is reminiscent of an amusement park. It includes a central conference area, a virtual boardroom, and digital monorails that allow new hires to travel to different exhibits.
Where do NFTs fit in the metaverse?
Nonfungible tokens (NFTs), play an important role in the popularity and usefulness of the metaverse. NFTs, a digital asset that is secure and based on the same blockchain technology as cryptocurrency, are an example of a nonfungible token. An NFT can be used to represent digital property, music, or art instead of currency. An NFT is a digital proof of ownership or digital deed that the owner can use to buy or sell in the metaverse.
Metaverse Properties claims to be the first virtual real-estate company in the world. The company acts as an agent for the sale or rental of land or property in several metaverse virtual universes, including Decentraland and Sandbox, Somnium, Upland, and Somnium. There are many options available, including conference and commercial space, art galleries, family homes, and “hangout places”.
It Properties, a new company that offers digital goods, has opened up opportunities. However, brick-and-mortar businesses are also stepping in. RTFKT, a startup that creates unique virtual sneakers and digital artifacts with NFTs, Blockchain authentication, and augmented reality, was acquired by Nike. stated that it was “born in the metaverse” and this has shaped its identity to this day.
Seven trademark applications were filed by Nike prior to the acquisition to allow them to create and sell virtual sneakers. Roblox and Nike also collaborated on “Nikeland,” which is a digital world in which Nike fans can connect, play games, and dress up their avatars with virtual apparel.
“NFTs, blockchain and cryptography lay the foundation for digital ownership,” stated Nick Donarski CEO of ORE System. ORE System is an online community of gamers and content creators. NFTs will allow one to retain ownership of their real-world identity in the metaverse.
How close are we to the metaverse?
Although the idea of being able interact in virtual online worlds has been around for many decades, it is still years away from a real metaverse that allows for life-like interactions. Bill Gates, Microsoft cofounder, noted in his annual review blog post that not all people have the VR glasses or motion capture gloves necessary to capture their expressions, body language, and voice quality.
Gates says that virtual meetings will shift from being two-dimensional square boxes in the future to be more like the metaverse, a 3D space where participants appear as digital avatars.
Read More : Metaverse : What you must be aware of
