Metaverse: The Next Revolution of Virtual Reality
Is metaverse just a marketing buzzword or is it really going to be the next big tech revolution? Here’s all you need to know.
Metaverse is the new buzzword taking over the internet. This term has been capturing the attention of everyone, including the top tech companies’ CEOs, such as Mark Zuckerberg or Satya Nadella. It has the potential to shape our future by creating advanced immersive and interactive digital experiences. But what is it? Why is it on everyone’s minds? Will it be the next revolution of virtual reality? Let’s find out in this blog.
Table of Contents
Best-suited Metaverse courses for you
Learn Metaverse with these high-rated online courses
What is the Meaning of Metaverse?
Metaverse is a combination of two terms ‘meta’, which means beyond, and ‘verse’ comes from the word ‘universe’. It combines the elements of augmented reality (AR), virtual reality (VR), blockchain, and cryptocurrencies.
Metaverse refers to online, 3D virtual worlds where you will use 3D avatars to represent yourself, meet your friends, travel to different locations, attend events and business meetings, and perform different activities from anywhere in the world using gadgets and devices. People will have their avatars and could buy and sell land, buildings, and other products and services, often using cryptocurrency.
The term Metaverse was coined by Neal Stephenson in 1992 in his sci-fi book novel Snow Crash. In that book, the metaverse is described as the evolution of the internet. It is presented as a kind of virtual reality where any virtual interaction can have a direct impact on the real world too.
To learn more, read our post – What is Metaverse?
Key Features of Metaverse
- No Boundaries: It will blur the lines between the real and digital world. Metaverse will be an endless space where there will be no barriers on who can use it, types of activities taking place, what businesses can enter, etc.
- Immersive: You will be able to witness realistic sensory experiences using AR, VR, and XR tools.
- Decentralized: It will be based on blockchain. It will not be owned by a single entity but by all the users who will have control over their data. Blockchain will help in ensuring the safety and tracking of all transactions.
- Social experiences: It will foster social interaction, such as hanging out with friends and business meetings.
- Use of Cryptocurrency: Using blockchain-based metaverse crypto, users will be able to create, exchange, share all assets in the virtual worlds.
Are we in the Metaverse Yet?
The metaverse does not fully exist yet. However, some platforms, such as Roblox and Fortnite contain metaverse-like elements.
- Released in 2006, Roblox allows you to play games in the virtual world. You can also create your games on the platform and monetize them to make real money by exchanging – Robux (virtual currency on the platform).
- Fortnite is a game launched by Epic Games in 2017. It allows its users to play numerous game modes, watch concerts, build islands, and do a lot more in the virtual space.
- Decentraland is another example of a decentralized VR platform. It allows its users to create, experience, and monetize their content and applications.
Explore Free Online Courses with Certificates
What Can You Do in the Metaverse?
Metaverse is a disrupting technology that will create virtual worlds and bring people around the world together. You would be able to socialize, attend virtual concerts, go on virtual trips, enjoy sightseeing, do shopping, perform leisure activities, and do a lot more.
Another thing that you can do in the metaverse is – visit virtual workplaces. Nowadays, due to the coronavirus pandemic, a lot of people are working from home. Metaverse can enable such employees to meet in a virtual office rather than seeing colleagues in a video call.
Here are some of its benefits:
- It will provide an immersive social media experience by introducing a three-dimensional space.
- Addresses existing challenges of remote work by enabling teams to communicate virtually using their unique avatars.
- It can help healthcare professionals better interact with the patients to get a clear insight into their health condition.
- It could allow people to visit those places virtually where they cannot go physically.
- Businesses will get huge opportunities to promote their services and offerings in the virtual world.
To know more, read our blog – How Metaverse Will Change the World We Live in
What are the Potential Challenges in the Metaverse?
Here are some of its potential limitations:
- Identity verification
In the metaverse, you could face challenges related to identity authentication or verification. In the metaverse, people will use their avatars. Thus, it could be challenging to identify people in the virtual world. Users will be verified through their avatar features, voice, and facial expressions.
- Damaging Reputation
Scammers can try to damage someone’s reputation by mimicking e someone else’s avatar.
- Data Privacy
This technology will depend highly on VR and AR devices with camera capabilities and unique identifiers. This can result in the leaking of the personal data of users.
- Laws & Regulations
Another challenge we could face in the metaverse is related to laws, regulations, legislation, and jurisdiction. This technology will bring a huge number of people together. The absence of laws that regulate the boundaries in such virtual worlds could be a challenge.
Check Out the Best Online Courses
Conclusion
Metaverse is still in its nascent stages. It is unclear how long it will take to be fully developed or to what extent it will be able to replicate real life. However, one certain thing is that it has the potential to be the next revolution in the virtual reality world. It can change our perception of the internet and social media interactions.
Recently completed any professional course/certification from the market? Tell us what liked or disliked in the course for more curated content.
Click here to submit its review with Shiksha Online.
FAQs
What is Metaverse used for?
Metaverse is a virtual or digital world where real people connect with other people. They can socialize, own and transact virtual properties, collaborate, shop, attend events, and do a lot more using their 3D avatars from anywhere in the world.
What are the technologies that power metaverse?
It combines the elements of various technologies that include: u2022 Virtual Reality (VR) u2022 Augmented reality (AR) u2022 Blockchain and cryptocurrency u2022 Artificial intelligence (AI) u2022 3D reconstruction u2022 Internet of things (IoT) u2022 Edge Computing u2022 Brain-Computer Interfaces
How can I make money in the metaverse?
Some of the ways for making money in the Metaverse are: u2022 Playing games to earn money u2022 Running eCommerce business u2022 Becoming a real estare property agent/dealer u2022 Opening an art gallery u2022 Promote Business u2022 Tutoring and educational initiatives u2022 Hosting events and concerts
Rashmi is a postgraduate in Biotechnology with a flair for research-oriented work and has an experience of over 13 years in content creation and social media handling. She has a diversified writing portfolio and aim... Read Full Bio