All the concepts you need, to understand Metaverse

Metaverse emerged from the realm of sci-fi novels and films into reality as a 3D iteration of the internet. The metaverse is a massive 3D world including various shared digital spaces where users can participate as digital avatars. Just like browsing through different web pages in a 2D manner, the metaverse will allow users to interact with web pages in 3D environments. Imagine shopping for clothes in a virtual 3D fashion store in the metaverse. Neal Stephenson is the author of the famous sci-fi novel “Snow Crash,” published in 1994. He coined the term ‘metaverse’ for the first time in the book, with a staggeringly similar depiction of the immersive virtual world. Neal Stephenson imagined the metaverse as a virtual world where people could escape from the real world and navigate the metaverse in the form of digital avatars.

Avatars - The notion of a three-dimensional virtual world is not enough to build the metaverse. Avatars are the instruments that can bridge the gap between users and the metaverse. Avatars are the 3D counterparts of users in the metaverse. The avatars help users interact with the metaverse and other metaverse participants. Users can develop their own customized avatars by tailoring different physical characteristics and traits according to their preferences.

Realism is one of the mandatory traits required for developing a metaverse. In a world where visual effects and high-quality computer graphics dominate the visual experience; realism makes the metaverse more rational. Users should develop a real emotional connection with the experiences in the metaverse to drive engagement. One of the foremost aspects of ensuring realism is through a lucid translation of users’ actions to their avatars.

Metaverse Design is highly complex, unlike many imagine it to be. There are various components in the complex digital environment known as the metaverse. The essential elements for designing the metaverse include connectivity, interface, decentralization, 3D visualization, and experiences. In addition, the metaverse also needs a content engine and a creator economy. All these elements work in sync together to offer the functionalities envisioned for the metaverse.?

Augmented Reality or AR is one of the foundational elements in the design of metaverse. The technology enables people to add information to the visual environment surrounding them. Examples of AR applications include identifying and adding information to ojects,?or using digital holograms in physical spaces. Augmented Reality presents a slight contrast to Virtual Reality (VR) because the later is an immersive experience.?

Virtual Reality or VR is a common term you must have come across in the tech space. It is the technology that helps users become completely immersed in virtual worlds. VR is different from Augmented Reality as the later focuses on layering 3D virtual environments on the physical world surrounding users. With the help of advanced VR headsets, users can dive into a completely immersive virtual world experience.?

Creator Economy is the concept of bringing marketplaces and software together to enable and empower creators to add content to the metaverse. The creator economy can include a massive assortment of assets ranging from individual assets to whole ecosystems such as virtual worlds, games, or crafted experiences. The virtual economies in the virtual worlds could help participants create virtual assets and customize avatars.

Experiences are one of the essential elements in designing the metaverse. Anything you do in the metaverse is an experience. They are just the VR counterparts of real-life activities and experiences. Some notable examples of experiences in the metaverse include immersive social media experiences, games, virtual workspaces, and live concerts; for instance, American rapper Travis Scott organized a virtual concert on the online gaming platform Fortnite.

Extended Reality or XR is an umbrella term that encompasses almost anything immersive. It combines virtual, augmented, and mixed components in one place. The name implies that the technology could extend the reality experienced by people through the blend of real and virtual worlds. With the potential for a $209 billion market size in 2022, XR is an inevitable component of the metaverse.

Decentralization in the Metaverse - The metaverse has been envisioned as a democratic space where users are free of any centralized control. Therefore, decentralization is essential for building metaverse while enabling users to interact across different spaces without restrictions. A virtual world like metaverse also needs independent currency like native crypto tokens and NFTs to verify asset ownership, which brings decentralization into the picture.?

Decentraland is one of the early pioneers in the field of metaverse applications with its Ethereum-based utopian world. The platform helps users engage with different types of games and activities and also features the option to creater own environments, applications, and marketplaces. In a recent auction of a virtual estate on Decentraland, the total auction sales amounted to almost $2.4 million, indicating favorable prospects for metaverse development.

Sandbox is a blockchain-based gaming platform where users can create and share unique experiences and assets. Creators, designers, and explorers can interact with the Sandbox and use different tools for building the virtual world. Users can make the most of NFTs for exercising ownership over their in-game assets. The Sandbox has also started gaining popularity in the NFT sales of virtual land, thereby presenting competition to Decentraland.??

5G is a broad term referring to the fifth stage in the evolution of wireless networks that would introduce enhancements in latency. The technology would improve speed alongside the number of transactions you can execute simultaneously. 5G technology can enhance the performance of congested networks alongside applications such as video telephony, real-time gaming, and edge-computing applications.

Second Life is a 3D virtual world where users can create avatars and virtual environments for different social networking and educational objectives. Users can explore the virtual environments, and interact with other residents alongside socializing and participating in different individual and group activities. The platform also enables users to create and trade virtual assets and services with each other.??

MMORPG is an acronym for Massively Multiplayer Online Role-playing Game, which are basically online video games with the elements of role-playing games. MMORPGs are different from other online video games because of the distinct role-playing and social elements such as character generation and the progress of players in the game. Another important feature associated with MMORPGs is the facility for open-world exploration.

Mixed Reality refers to the technology or systems that combine the physical world with virtual worlds alongside digital information. Basically, a blend of the physical and digital domains, Mixed Reality or MR, helps in unlocking a wide range of intuitive and natural three-dimensional computer, environmental and human interactions. MR relies on innovative developments in computer vision, cloud computing, and graphical processing.

Skeuomorphic Design?is a vital concept in user experience (UX) design that can mimic the different elements of real-life products and features. It is a design style that involves precise 3D emulation of users' real interactions and experiences in the real world. UX designers utilize skeuomorphic design approaches to offer a better sense of familiarity to users in 3D virtual platforms, thereby driving better engagement.

Mirrorworld is a concept that emphasizes creating a virtual counterpart of the real world in a three-dimensional environment. It would have 3D representations of objects, places, and people in the real world, linked to their counterparts in the real world. In technical terms, it is an invisible digital data layer associated spatially with spaces, objects, and people. Basically, mirrorworld is a one-to-one map of the real world in digital form.?

Brain-Computer Interface or BCI refers to an interface that enables users to interface their thoughts directly through a computer system. For example, a BCI system designed in 2021 focuses on supporting individuals with medical conditions that restrict the use of their hands. The two distinct categories of BCI systems include invasive and non-invasive systems. BCI has the potential for maximizing the use of different interfaces.

Cybernetics refers to the technology that bridges the gaps between machines and human interactions. You can think of a game controller as a basic example of cybernetics. Some of other examples of cybernetics applications include wearable technology, VR headsets, and smart glasses. The developments in cybernetics emerge primarily from large-scale innovation in machine intelligence and the introduction of more intuitive interfaces.

Decentralized Autonomous Organization or DAO is an approach for on-chain governance which allows the DAO token holders to guide the organization. Members of the network with DAO tokens would have the privilege of voting on the proposals for the future direction of the organization. Some of the notable examples of the use cases of DAOs include software projects, governance in companies, and protocols.

A Digital Hologram?represents the digital overlay of a specific image in a physical space. Digital holograms refer to the simulation of holograms in the virtual space, including the projection of objects or user interfaces. You can add an object mapped into the space with AR experiences or project the screens on VR or AR spaces. Digital holograms overcome the conventional barriers to displaying holograms on fixed hardware displays.

Digital Identity basically includes all the terms that showcase how you can establish proper identification in all online applications alongside interacting with the applications. Digital identity also includes software to enable authentication of identity in a specific software application. In addition, software for projecting user identity into virtual environments in the form of avatars also comes under the scope of digital identity.

A Digital Twin?refers to any digital object in the metaverse that can easily replicate the real-time properties associated with physical objects. The digital twin can include all the visual traits, such as an accurate 3D representation of the existing state of the source. In addition, the digital twin could also include data fees from the sensors embedded in source objects. The digital twin of a phone would include its 3D image and information about its specifications.?

The concept of a Distributed Network relates closely to the original vision associated with the internet. With a distributed network of computers, decentralization can offer the advantage of safety from natural disasters and nuclear strikes. Over time, the pursuit of a distributed network gave birth to cloud computing for remote data storage. Now, blockchain networks are redefining the use of distributed networks.

ESPORTS refers to the collective term for video games organized in highly competitive environments. The games can include the popular, team-based multiplayer online battle arenas or survival battle royales and single-player first-person shooters. Competitors or teams face off each other while millions of fans watch the events online. Some of the examples of top games played in Esports include Fortnite, League of Legends, and Counter-Strike.

Free to Play or F2P is a unique monetization approach followed across a massive assortment of online games. The Free to Play games offer virtual economies where participants can start playing for free. In addition, the F2P games also have features for players to achieve different types of virtual assets or currency. Some of the items and currency tokens in the F2P games are available for purchase with real money to facilitate revenue.

Future of Work refers to the philosophy of empowering the workforce to collaborate with each other without the need for physical presence. Some of the earliest examples of the Future of Work philosophy refer to the applications such as work hangouts or video teleconferencing. The innovation in use cases of Future of Work also points towards more immersive collaboration experiences through AR and VR.

Game Tech or game technology is the technology responsible for making modern video gaming possible. The Game Tech stack will be largely responsible for enabling immersive experiences in the metaverse and emotion-driven game designs alongside storytelling. You can discover 3D engines for rendering immersive graphics and persistent virtual worlds as the top examples of game tech.

Graphics Processing Units or GPUs are advanced computing resources tailored specifically for highly concurrent tasks such as artificial intelligence and 3D graphics rendering. The use of GPUs for rendering spatial environments alongside driving new innovations in machine intelligence will evolve as key highlights in the development of the metaverse. GPUs can very well be the basic enablers for the creation of the metaverse.

Human Interface basically refers to the hardware you can use to connect to the metaverse. The most evident example of human interface hardware is the traditional computer screen or your smartphone screen. In addition, human interface technologies also include VR and augmented reality alongside newly emerging technologies such as brain-computer interfaces. Human interfaces are basically the gateway to the metaverse.

Immersive Social is a collective term allocated to a specific type of experience in the metaverse tailored for achieving enhanced social interaction. In other words, you can also think of immersive social experiences as the immersive, real-time evolution of different social networks and interactions. Some of the notable examples of immersive social experiences refer to Rec Room and VRchat, which people can enjoy in Roblox.

Live Services refer to the internet-based software platforms which are generally cloud-based, tailored for enabling sophisticated communities and economies in online games and virtual worlds. You can find software for inventory management in virtual economies, online tournaments and events, social features, and regular updates. Live Services can offer many other features necessary for driving a wide range of metaverse experiences.

Low Code Platform clearly gives away its meaning, especially with the “low code” part. The low code platforms enable creators to develop applications without extensive knowledge of computing coding. Low code, as well as no-code platforms, have spurred an exponential rise in the number of individuals aspiring to create applications and experiences. Such platforms are crucial for the growth of metaverse by empowering creators and contributors.

Machine Intelligence or artificial intelligence or AI refers to a branch of computer science focused on infusing machines with intelligence. Machines are capable of using deep learning technologies to expand their capabilities in examples of image recognition, natural language interpretation, and autonomous vehicle driving. Machine intelligence is an essential aspect for the metaverse to create adaptive interfaces that respond to real-world behavior.

Modding refers to the process of creating “mods” or modifications in a virtual world or a game. Generally, developers create “mods” without any cost as creative projects. However, in some cases, the “mods” are actually put on sale as enhancements to the game. When mods are put on sale, modding can be a part of a creator economy in the concerned game or virtual world. The notable examples of modding are Counter-Strike and DOTA.

Network Effects points out the collection of different theories regarding the ways in which networks can grow in value. Metcalfe’s Law showcases how the value of a network grows as the square of the number of users. Reed’s Law states that large networks grow in value with lower adoption friction in subgroups. An understanding of network effects laws can help in perceiving the future direction of the metaverse.

Open Platforms basically point toward permissionless technology that can help creators develop applications or content without any restrictions. Developers can have the freedom to create applications with decentralized dependencies and complete ownership control. The scope of open platforms brings many decentralized public domain projects, such as decentralized applications based on smart contracts.

OpenXR or WebAssembly (WASM) refers to the application programming interface or API specification used for delivering 3D, VR, and AR software. It is basically a royalty-free API standard that offers engines with native access to a wide range of devices in the domain of mixed reality. OpenXR can help in building engines to target holographic devices as well as immersive VR devices such as headsets.

Play to Earn or P2E is a new economic model employed in different blockchain-based games, which facilitate the development of a virtual economy. Participants can earn virtual currency or assets by playing the game. All the items and the currency in the Play to Earn games are a part of the virtual economy. Players can trade the items and currency among each other through decentralized marketplaces and by using NFTs.

Self-Sovereign Identity is a term depicting a special form of digital identity granted to a user with complete control and ownership of the identity. Any centralized authority could not take control of the Self-Sovereign Identity. Zero-knowledge proofs enable self-sovereign identity owners to choose selective information disclosure for third-party applications. Many blockchain-based self-sovereign identity solutions are already under development.

Simulating Reality is a new and innovative trend in the world of technology that offers the ability for accurate simulation of the real world in computers or digital environments. The introduction of new technologies such as 3D engines, access to digital twins, and physics-based modeling tools such as ray tracing have spurred a massive growth of the trend. Simulations of reality can mirror the real world precisely in the metaverse.

Smartglasses are basically augmented reality headsets combining different technologies to provide an immersive experience. They combine the speakers for audio, cameras for observing and recording the surrounding environment, and microphones for recording and responding to voice commands. In addition, smart glasses also have the features for projecting digital holograms in the view of the user’s physical space.

Spatial computing points out the technology approach for creating immersive experiences for humans in a computing environment. It involves the addition of computing in objects where you can find the spatial environment surrounding an individual. Spatial computing involves technologies to generate outputs, image recognition, and advanced user interfaces for synthesizing data from virtual worlds and geospatial information.

Telepresence is basically another name for digital teleportation, the ability to travel to remote physical locations through virtual reality and augmented reality technologies. The common examples of telepresence include live music concerts in virtual worlds, collaboration in virtual workspaces, and esports events. In the long term, telepresence would focus on applications in virtual tourism with the support of drones to visit remote locations.??

A Virtual Being, as the name clearly implies, is any character or entity in a virtual world or a game. The definition of virtual beings would encompass different characters and digital avatars under the control of a human user. In addition, the characters in the game, which are controlled by machine intelligence or the non-player characters, are also examples of virtual beings. Virtual beings are the essential building blocks of the metaverse.

Virtual Currency is basically digital currency or a unit of account for certain aspects of a virtual economy. The example of gold players can win in online games such as World of Warcraft shows the use of virtual currency. Players can use the gold to purchase other virtual assets in the in-game economy. New blockchain-based environments and experiences offer virtual currency that can be traded within the platform and on decentralized exchanges.

A Virtual Economy refers to a system that can allow users to exert control over virtual currency and assets in a digital world or other metaverse domains. The examples of free-to-play games show the use of economies that help players earn some items through participation. On the other hand, such economies also include assets that users have to purchase with real money, thereby presenting different approaches for designing virtual economies.

Virtual Item basically refers to any in-game object under the possession of a player in a game or any other metaverse experience. In most cases, users don’t exactly have ownership of virtual items. On the contrary, they have licenses for using the items in ways decided by the game or the virtual world. However, NFTs can help in proving the ownership of items alongside enabling the transfer of ownership of virtual items to other people.?

Virtual Mainstreaming is an overall trend geared toward encouraging the adoption of digital identity and virtual assets as equivalents of physical identity and property. The growing involvement of the general public in online environments and experiences calls for exercising precise standards of digital identity and asset ownership. Virtual mainstreaming can empower new prospects for making virtual assets and digital identity more mainstream.?

Virtual Worlds are persistent and sometimes shared environments that can help in empowering persistence and interaction among multiple people. The virtual worlds include non-graphical environments in bulletin board games and even in the MMORPGs with high-end graphics. Virtual worlds have their unique ecosystems with virtual economies, assets, and currencies alongside customization opportunities for creators.

WASM or WebAssembly is the open standard required for the delivery of binary executable code in web browsers. The main purpose of WASM is the creation of an open application environment running in parallel to the app store environments you can find on mobile phones. However, the focus would primarily turn towards standardized development and the freedom from a centralized walled garden, thereby adding flexibility.

Walled Gardens are the specific domains in the metaverse where people can create content only according to particular rules, tools, and permissions. The different walled gardens have prominent advantages, and the tools are generally easy to use. However, the tools take a substantial share of the revenue garnered by creators. Many platforms developed in the web 2.0 trends are walled gardens with profound competition from open platforms.

Web 3 refers to the collection of design patterns, methods, and trends that would shape the development of web-based applications. The main focus of the third generation of the internet would be on standards for using peer-to-peer or blockchain-based platforms for data storage. For example, a Web 3 wallet can serve as a browser plug-in for allowing users to access cryptocurrencies and engage with smart contracts.