Following Facebook’s rebranding as Meta, a fresh buzz arose around the term “Metaverse”, but no one knew what it meant. For many years, there has been a lot of speculation about how the internet and technologies will progress. When we talk about the evolutionary steps of the internet, we commonly refer to Web1, Web2, Web3, and so on, and now we’re talking about the metaverse.

But ignore the definitions for a moment and consider the scenario. Imagine being able to build your ideal alter-ego in a virtual environment where you have complete power. You can do whatever you want, possess whatever you want, and your options are nearly endless.

A scenario like this has been presented in several science fiction films and television shows. However, it may become a reality soon because there is a lot of buzz in the business world about getting every layer, technology, and protocol ready to construct “The Metaverse.”

Let’s not concern ourselves about the definitions for the moment and consider the following scenario: Consider the possibility of creating your ideal alter-ego in a virtual world where you have complete control. You have options that are endless and can do whatever you want.

This kind of scenario has been illustrated in science fiction films and television shows. However, it may happen soon, as there is a lot of buzz in the business world about getting every layer, technology, and protocol ready to create the metaverse. What is the “Metaverse”?. This article will be a complete guide to a layman’s understanding of the metaverse.

What Is The Metaverse?

Here’s an experiment to help you understand how nebulous and convoluted the term “metaverse” maybe: In a statement, mentally replace the words “the metaverse” with “cyberspace”.  Ninety per cent of the time, the meaning will not vary significantly. This is because the phrase refers to a broad shift in how we engage with technology rather than a single form of technology. Even when the specific technology it originally described becomes mainstream, it’s very feasible that the name may become obsolete as well.

People can work, socialize, transact, play, and even create in the metaverse, which is a highly scalable, persistent network of interconnected virtual worlds focused on real-time interaction. It immerses the user in the virtual environment using advanced virtualization and technologies (AR, VR, Haptic Sensors, and so on). This means that the user can interact in real-time with an always-present world that he can access whenever he wishes.

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Multiple proponents believe that in the ideal future version of “The Metaverse”, there would be a single platform where you could connect your persona, identity, and platform services, and many worlds would be developed to which you could obtain access. As if you’re on a planet with multiple sub-worlds to join, leave, or even create.

The existence of a definition for digital identity, digital ownership, digital currencies, and the universal transferability of digital assets – all of which enable a fully functioning economy in a virtual world – remain critical aspects.

The metaverse might thus replace various parts of tourism, such as what it means to attend a concert, how to locate art exhibitions, and, most importantly, how people learn, study, connect, and even meet up with friends.

Evolution of Web 1, Web 2, and Web 3 to the Metaverse

There is a lot of debate over the definitions of Web3 and the difference between it and the Metaverse, even if there is no clear agreement. Many crypto fans feel that crypto is the next stage of the internet, while others argue that after the social interaction-based Web2, the immersive Internet known as the “Metaverse” will emerge. It’s unclear where the line should be drawn and where distinctions should be made, but the debate over whether Web3 is crypto and blockchain or immersive internet with virtual worlds will continue.

Examples Of The Metaverse

There is currently no example of a large metaverse. Various companies, particularly game studios, claim to have built a metaverse.

1. Meta Horizon Worlds:

Meta Facebook has introduced a virtual conference room that can be accessed through the company’s Oculus VR headsets and Horizon Worlds. It allows you to engage with peers in virtual meeting rooms using your avatar, but it should also serve as the foundation for future Oculus and Meta products.

2. Mine craft:

Over 140 million people play the Lego-like game world Minecraft regularly. The company was purchased from Microsoft, and it allows gamers to design their persona, as well as create endless virtual worlds on their own, complete with digital assets and other features.

3. Second Life:

Second Life was one of the earliest virtual realities to allow players to build their own identity in a virtual world, having launched in 2003. Second Life is now expanding with its marketplaces, digital assets, and more after many years of development.

4. Microsoft Mesh Platform:

The company is also pursuing mixed and augmented reality (XR). As a result, they plan to introduce mixed-reality components to Teams in 2022. 

This should allow avatars and holograms to attend events, meetings, and perhaps retail experiences and games in the future.

The Metaverse’s Criticism

Everything sounds overhyped, from science, fiction, and many critics argue that we, as humans, are not ready to create such virtual worlds. The metaverse has several serious issues that must be addressed before it can be considered safe.

Privacy, information use, mental health issues, and real-world social ramifications are just a few of the numerous areas of concern. Consider this: if someone can live a better life online than in real life, why would he want to live in the real world, date in the real world, have children in the real world, or work in the real world?

There are already various shows and films that deal with these themes, suggesting that the virtual world may become more attractive than the real world.

Another issue is the “winner takes it all” effect and the power it could bestow on a single corporation. This means that a single company may have the potential to establish a virtual universe with its laws, economic environment, and identities while avoiding real-world norms and regulations. What should be done with such a business? What about the tax situation? What about the economic ramifications in the actual world?

Conclusion

The metaverse is the natural progression from the internet. From the early days when you could only read what was already out there, to the age of social media and the creators’ economy, to the virtual world’s integration into our own, we’ve come a long way. The internet’s and information age’s trajectory is clear: virtual worlds will emerge, and users will immerse themselves in them.

We as a society still have many issues to address, such as social interaction, the digital economy, and the illusion of ideal virtual worlds, all of which will have a significant impact on our real daily lives.

Metaverses are still in their infancy, but with rapid advancements, billions of dollars invested, and a significant push from COVID, they will soon play a larger role in our lives.

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