What is the Metaverse and why do we need to know about it?
The Metaverse has been a hot topic in the last months, not by coincidence since Facebook changed their name to “Meta”. There’s many things to know about what the Metaverse is and what it isn’t – both of which equally important. So let’s start with the basics:
What is NOT the Metaverse?
The first most important fact about the Metaverse is that it does not exist yet. You may ask yourself: why is everyone talking about it then? Well, the biggest modern technology enterprises – such as Meta, Microsoft and Google - are stirring noise around their grand preparations to secure their spot in the market and, if possible, dominate it.
Is the Metaverse owned by Meta (previously Facebook)?
Not the whole Metaverse. As mentioned above, now is a crucial moment for companies to lay their groundwork in the new virtual space. Facebook made an obvious attempt at this by changing their name to Meta, causing the false assumption in many that it is the origin and/or host of the Metaverse. This is far from the truth. While Meta will soon launch their own service, it is in fact the VR&AR industry that currently offers the closest resemblance of a Metaverse environment. Names like NVIDIA (check the Omniverse), Epic, Unity Software (3D content) and more are the present leaders in that segment.
What IS the Metaverse, then?
The full potential of the Metaverse is yet to be explored, but let’s try to give it an understandable definition. The metaverse is set to be a unified 3D virtual world where users can create digital selves (avatars) and navigate through a range of network services.
It takes a big leap in the digitalization of day-to-day activities, including:
and continues to expand every day.
Who is involved?
More than 160 companies are building the Metaverse, investing hundreds of millions of dollars. Click here for a detailed list.
Do I need a VR/AR set to access the metaverse?
The main envision of this virtual space is a 360-degree immersive experience. While no one can confirm nor deny it at this stage, it goes by understanding that you will need VR/AR technology to access the full service.
Why should I care about it?
The Metaverse is largely perceived as the next step of the evolution of the Internet. At its beginning no one knew if it was really going to be a success or a failure – and it proceeded to revolutionize the world. The Metaverse is an immersive extension of its reach at a time when virtualization is considered a great advantage to most, if not every, industry.
To sum up: it may soon become one of our most important tools.
In the end,
It is the driving force of business and the inevitable need to seek progress that are bringing forward this new era of digitalization which encompasses a greater deal of influence over our world than ever before. While there is little we can do to resist it, we can preserve control over our reality by entering this new space with responsibility. There is still a vast conglomerate competition for the domination of the Metaverse, and this undoubtedly to our – the end user’s – advantage. By being constructively critical when choosing a provider, we ensure that the quality of the service continues to raise high. The best we can do is simply to not settle for bad service – and of course, have fun exploring its potential!
What do you think about the Metaverse?
Let us know in the comments below!
References:
Brambilla Hall, St. & Li, C. (2021): What is the metaverse? And why should we care?, Retrieved from link: https://www.weforum.org/agenda/2021/10/facebook-meta-what-is-the-metaverse/
Roy, A. (2021): Who is Building the Metaverse? A Group of 160+ Companies, and You, Retrieved from link: https://www.xrtoday.com/virtual-reality/who-is-building-the-metaverse-a-group-of-160-companies-and-you/
Ginsberg, B. (2021): Fashion Is Moving Into the Metaverse — Here’s What to Expect, Retrieved from link: https://www.rollingstone.com/culture-council/articles/fashion-is-moving-into-the-metaverse-heres-what-to-expect-1274264/#:~:text=As%20fashion%20immerses%20itself%20in,sold%20directly%20to%20an%20avatar.
Morse, A. & Steinn, S. (2022): The metaverse is just getting started: Here's what you need to know, Retrieved from link: https://www.cnet.com/tech/services-and-software/the-metaverse-is-everywhere-heres-what-you-need-to-know/#:~:text=These%20futurists%20envision%20the%20development,much%20go%20hand%20in%20hand.
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