What is Metaverse and How Does It Work?

Imagine a virtual world where people live, work, shop, and interact with others, all from the comfort of their sofas in the real world. This is called the metaverse.

“Metaverse” didn’t become a household term until Facebook changed the company’s name to Meta in October 2021. At the time, the company announced plans to spend $10 billion over the next year on technologies to develop its vision of the metaverse technology.

Metaverse is considered a further evolution of the Internet. This will take many forms, including games, online communities, and business meetings, where people collaborate via digital faxes or their own avatars.

What is the Metaverse?

People use avatars to represent themselves, communicate with one another, and create a sense of community in the metaverse. In the metaverse, digital currency is used to buy clothes – or weapons and shields in video games – and many other items. Users can also virtually scroll through the metaverse for aimless fun using virtual reality headsets and controllers.

What is the difference between the internet and the metaverse?

Millions of servers, billions of computers, and other electronic devices make up the Internet. Internet users can interact with websites, communicate with one another, and buy and sell goods and services once they are online.

Metaverse doesn’t compete with the internet – it relies on it. In the metaverse, the user traverses a virtual world that mimics aspects of the physical world using technologies. These technologies such as virtual reality (VR), augmented reality (AR), AI, social networking, and social media. digital currency. The Internet is something people “browse”. But, to some extent, people can “live” in the metaverse.

A metaverse is a place where even governments can operate. For example, while most countries have a relatively static presence on the internet. Barbados plans to open a diplomatic embassy in the metaverse – specifically, the online world of Decentraland.

The growth of the Internet created many services that paved the way for the creation of the metaverse.

“In games, you see Roblox, Minecraft, and other role-playing video games. And even Zoom – foreshadowing what the metaverse was designed to deliver,” said Ben Bajarin, an analyst at Creative Strategies,” said Ben Bajarin, an analyst at Creative Strategies. However, you even have a presence on social media online.

Now he says that the ultimate issue is what form the metaverse will take. Will it be open like the internet? Or will it be a closed trial controlled by a few large companies?

Metaverse companies

Here is the list of metaverse comapny, each with a unique vision for the metaverse.

Facebook

In an open letter, Facebook CEO Mark Zuckerberg said his company’s investment in Metaverse represents a fundamental shift. He further said it is part of a new vision for the social media giant. It is designed to “bring the Metaverse to life”.

He further said that Facebook is a super inverse company first, not Facebook first. This is a significant change as it means that users will eventually not need a Facebook account to use other services in the metaverse. Among non-Facebook products, Facebook has sold millions of its Oculus VR headsets to navigate the metaverse.

In announcing the Meta, Zuckerberg said Facebook aims to accelerate the development of the underlying technologies, including social platforms and creative tools, needed to “bring the metaverse to life.” After the news of the Meta was released in late 2021, Facebook launched Horizon Worlds, a VR space that users can navigate as avatars and tools for developers to create virtual worlds.

Epic Games

Epic Games, the maker of the popular Fortnite online shooter series – with around 350 million users – and the Unreal Engine software for game developers, has planned to claim ownership of the metaverse after $1 billion. dollars in funding in 2021, including $200 million from Sony Group Corp.

Their vision for the metaverse is different from Facebook’s in that it wants to provide a common space for users to interact with each other and with brands, without an ad-filled News Feed.

“I truly believe this aligns with our goal of filling the world with emotion, through the power of creativity,” said Kenichiro Yoshida, President and CEO of Sony Group Corp. and technology”. in a press release.

Microsoft

Metaverse is coming to Microsoft Teams, the software giant’s competitor to Zoom’s online meetings. Moreover, Microsoft has announced that it will release Mesh for Microsoft Teams in 2022. The new service allows Teams users from different physical locations to join collaborative and shared three-way experiences in virtual meetings.

How do NFTs fit into the metaverse?

Non-fungible tokens (NFTs) play an important role in the usefulness and popularity of the metaverse. NFT is a type of secure digital asset based on the same blockchain technology used by cryptocurrencies. Instead of currency, an NFT can represent a work of art, a song, or digital real estate. NFTs provide holders with some sort of digital deed or proof of ownership that someone can buy or sell in the metaverse.

How close is the metaverse?

While the basic idea of ​​being able to participate in an online virtual world has been around for many years, a real metaverse where real-life interactions are possible is still far away. In his Year in a Review blog post, Microsoft co-founder Bill Gates notes that most people don’t have VR glasses and motion capture gloves to accurately capture expressions, body language, and voice quality. their say.

But for businesses, Gates predicts that within the next two to three years, most virtual meetings will move from the two-dimensional square box to the metaverse — a 3D space where participants appear as avatars. digital interface.

Read also: SpaceX Starlink Internet Review

Latest

What is Entertainmart? All You Need to Know

Entertainmart, is the best place for entertainment in your...

Heliolisk Smogon: Deadly Pokemon Attacker

The Heliolisk Smogon can transform into a Heliolisk forme,...

Kennedy’s Orbiter Processing Facility

The Kennedy's orbiter processing facility is one of the...

Carbon Fiber Longboard: Unbreakable Skateboard Deck

Are you planning to buy a carbon fiber longboard...

Don't miss

What is Entertainmart? All You Need to Know

Entertainmart, is the best place for entertainment in your...

Heliolisk Smogon: Deadly Pokemon Attacker

The Heliolisk Smogon can transform into a Heliolisk forme,...

Kennedy’s Orbiter Processing Facility

The Kennedy's orbiter processing facility is one of the...

Carbon Fiber Longboard: Unbreakable Skateboard Deck

Are you planning to buy a carbon fiber longboard...

Dennis Smith Jr Vertical Leap Record!

Dennis smith jr vertical leap is the best in...
Business News Mag
Business News Maghttps://businessnewsmag.com
Business News Magazine is popular magazine of world. They have qualified editors team. They share great news to the world.