Explainer: What Is The Metaverse?

If you have heard a lot about the word “Metaverse” these days and are still confused about what exactly it is then this article is a must-read for you. Because you will not only get familiar with the concept of Metaverse in an understandable way but also come to know how it is being developed and what implications it holds for our future.

The Metaverse

There is no universal consensus on how to define Metaverse. Proponents of this concept define it in many ways.

For instance, Facebook, now Meta, looks at it as:

“The ‘metaverse’ is a set of virtual spaces where you can create and explore with other people who aren’t in the same physical space as you.”

Matthew Ball, a silicon valley venture capitalist and vocal for metaverse, defines it as:

“The Metaverse is an expansive network of persistent, real-time rendered 3D worlds and simulations that support continuity of identity, objects, history, payments, and entitlements, and can be experienced synchronously by an effectively unlimited number of users, each with an individual sense of presence.”

Any clue what they are talking about? No? That's why you are here. Let me interpret it for you.

In simple words, Metaverse is all about bringing the internet to life. Speculations are around the corner that it is soon-to-be the successor of the internet. You will be able to experience the man-made augmented universe with as much close-to preciseness and sensation as you are feeling in this real world.

It combines social media, online gaming, augmented reality, virtual reality, and cryptocurrency altogether to allow people to interact virtually but with enhanced user experiences closer to real-world experiences.

Development Of Metaverse

Metaverse is not like a new product that emerges out of nowhere.

It has a solid and decades-long history - and of course the stunning future it is glimpsing. Its foundation was laid with the invention of the internet back in the 2nd half of the nineteenth century. It is being evolved as the result of a series of continuous tech development in the internet industry since then.

To make it more easily understandable, consider the internet as a child.

During its infant period, the internet was confined to connecting people around the world with very limited user experience. In the beginning, the concept of connection was finite to sending Emails for official purposes.

Its parents (obviously tech developers and investors) worked tirelessly on this baby to grow its connectivity consciousness. They kept making it more realistic for people by closing the user experience gap with each invention they made.

Then the advent of social media platforms like Facebook, Instagram, and Twitter turned the user experience into a wholly new reality and make them live in the digital universe.

Not so long ago virtual reality has taken it to another level. People are made enable to virtually experience things with more real-world-like sensations and feelings.

Cutting-edge technologies like Hologram and Augmented Reality, have taken it to an unbelievable level.

Experiments are being done to digitally teleport people to any place in this augmented reality universe with close to real-life emotions, sensory effects, and user experience. The synergy of social media, virtual reality, augmented reality, and hologram technology is inspiriting the internet to come to life - the Metaverse.

So, the question is what our future would look like in that universe?

Future The Metaverse Holds For Us

As Metaverse would overlay the visual elements, sound, and other sensory input onto real-world settings to enhance the user experience, it will change every aspect of our life altogether.

Financial Market

Investors are already pouring millions of dollars into this tech segment.

As of yesterday, Facebook mentioned dividing its brand into two parts: the first would be its Apps family and the second one is its Metaverse Division.

This has encouraged investors to invest heavily in building Metaverse. Soon the major chunk of the economy will most likely be based on the virtual world.

Further, It is expected that cryptocurrency will completely replace the cash economy. Some tech giants are proponents of introducing crypto and proactively investing in it.?So, the Global Economy will probably turn into a Cashless Economy.

Religion

It is hard to say how people will adjust their existing religious beliefs with the concept of the Metaverse.

But one thing is very clear that they might become habitual of going to their religious places virtually. Most of the Mosques, Churches, synagogues, and temples will all be shifted virtually.

People might be able to offer pilgrimage by just sitting at their home and teleporting their digital self to offer prayers along with other pilgrims.

Social Life

There is no second opinion in this fact that social media has already changed many aspects of our social behavior.

People feel easy to communicate and stay in touch with acquaintances online instead of meeting them in-person.

However, the advent of the era of Metaverse will not just bring changes to our social behaviors but will rewrite it as well. People will start preferring augmented reality and holographic ways to hang out with their family members, relatives, colleagues, and friends. Work will be done at the comfort of your home. So do schooling and learning!

The accumulative result of this newly adopted social behavior would be observed in relationships. People would probably have less real intimate relations and more loneliness and seclusion would be preferred - but they will still be social in many ways.

This seems an excited and at the same time furious concept that is being chased. If this is the future then global political consensus and the privacy of people should be ensured. In the last, I am leaving you with a question: do you think this will happen in your life? If yes then which coffee flavor you would like to have while attending an augmented reality office meeting?

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