The news by Facebook that it was expanding its embrace of the metaverse and rebranding itself as Meta sparked a frenzy. While academics think the metaverse is still several years away, the term’s popularity has many people wondering what it is and how it all works.
In simple terms, the metaverse aims to change the way people connect with one another on the internet, allowing them to communicate in ways that were previously only imagined in science fiction movies.
The truth is, virtual reality is here and will only get better as the years go on, so let’s have a look at why the metaverse is the future.
Virtual Space is No Longer Sci-Fi
Gaming companies have been dabbling in the concept of 3D environments as their next business model. Meta on the other hand, plans on making it a norm with tech companies diving in to make an idealistic vision more of a reality by the day. Right now, a virtual economy is starting to grow, a new social platform is gaining traction, and artificial intelligence is speeding up the process.
A virtual reality headset is now the new smartphone, giving us access to something that competes with our physical reality and practically connects everybody better than past versions of the internet ever could.
The Physical World’s Rival
The metaverse may use virtual reality, or augmented reality as it is presently known, to immerse users in an alternate world. Although the technology is still in its early stages, businesses such as Meta claim to be producing and improving these devices. One such device is Meta’s Oculus Quest, which is now in its second generation.
Immersive worlds and online avatar creation are nothing new, as games such as Grand Theft Auto Online, Minecraft, and Roblox have previously developed virtual environments. Meta intends to go beyond entertainment by creating virtual workspaces, residences, and experiences for people of all ages.
A Unique Office Space
The possibilities of a virtual world in which everything is backed by lines of code may offer up new revenue streams for corporations that enter this new market. The possibilities are endless, and based on how Americans have chosen a more digital lifestyle, the shift is already underway. Walmart stated earlier this year that it would enter the virtual world by supplying cash and allowing users to purchase and trade NFTs.
However, the efforts required to make such future a reality could be significant. Many people in the United States still lack access to high-speed broadband connections, and the cost of dependable VR hardware can really hurt your wallet.
A Digital Space or a Product
Matthew Ball’s definition of the metaverse says it best: “an expansive network of persistent, real-time rendered 3D worlds and simulations that can be experienced synchronously by an effectively infinite number of users, each with an individual sense of presence.”
The metaverse, according to his description, is a product or service with seven basic characteristics, including persistence, synchrony, and interoperability. However, technology expert Ben Thompson has suggested that this description is not far off to what the internet already is and does, although “with a 3D overlay on top of it.” Turns out it’s more subjective than we thought.
The Metaverse of Tomorrow
The metaverse is predicted to express itself predominantly through virtual reality over the next few years, and other digital worlds that may be used for a number of personal and business goals. Recent high-profile announcements by Meta Platforms (previously Facebook), Microsoft, and Sony all suggest that consumer alternatives for navigating interactive and social 3D settings will be headsets like Meta Quest or Sony PSVR.
Virtual reality is centered on establishing a digital sensation of presence, which many experts believe will be critical to providing an appealing experience and maintaining consumer satisfaction. Mark Zuckerberg says that the metaverse has already arrived in the form of popular video games. Following Microsoft’s $68.7 billion acquisition of Activision Blizzard and Sony’s $3.6 billion acquisition of Bungie, many industry experts anticipate Meta acquiring a big gaming franchise this year.
This holiday season, the company’s Oculus software (soon to be rebranded Meta Quest) led the app store, and Meta may have sold up to two million VR headsets. It looks like growth is happening one way or another.
The New Reality is Going Virtual
The metaverse could evolve in a variety of ways, all of which are dependent on an ecosystem of research, innovation, investment, and regulation. As you can see, it basically turning into the next popular social hub, but this time anyone can join. Soon, we’ll be seeing everyone walking around their home with a headset and it will eventually be weird not to own one in the future. Crazy, right?
Want to hear more about the Metaverse revolution? Do you want to learn how to make money as a Metaverse early adopter? Be sure to click here for FREE access to the Metaverse Beginnings online course and community. You can’t afford to wait.
