What is Metaverse?

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The world has been progressing really fast and with the introduction of the newest and latest technologies, we are getting introduced to newer and newer concepts about our reality. You all might have heard the word, Metaverse, the most intriguing and surprising concept we all have been hearing around. The most important fact about Metaverse is that almost all the huge tech tycoons are behind it. Honestly speaking everyone has a different perspective on Metaverse however scientists believe that talking about Metaverse at this time is actually identical to talking about the internet in the 90s. So, what exactly is Metaverse and why is it so important? Let’s find out.

What is Metaverse? A definition of Metaverse

In general, Metaverse is actually what we all know as Virtual Reality. Scientists have been trying to create a 3D environment based on the implications of the internet and virtual reality along with artificial intelligence to create an environment that is the exact true depiction of reality. Normally you would often see Cyberspace and Metaverse being used interchangeably. Nothing to worry about as Metaverse and Cyberspace have the same meaning in most of the cases. The only difference is that in Metaverse we deal with technology in a totally different way.

Metaverse: Get Virtual Relity to Life

The normal methodology being opted to utilize the meta space is generally through hand consoles, systems, and other computing tools however development is being done in this regard to actually make it a reality in a real-life simulation. As the main purpose of Metaverse is to actually get virtual reality to life, therefore, technologies are being developed to create the proper virtual space that keeps on existing even when you are not even using it. Broadly speaking Metaverse is actually the same thing as video games apart from the fact that you can personally interact with the atmosphere. It is also considered to be a virtual transportation platform where you can buy virtual goods and use them. In reality, is more like buying a new tuxedo from a store and wearing it at a party. It is something that is a lot of fun and sometimes can be quite frightening if you get too much attached to it.

Origin

Well, you all must be thinking that the origin of Metaverse would be the invention of some great scientist or philanthropist, right? But Nah you all are wrong on this one. the fun fact is that metaverse was actually first written by Author, Neal Stephenson, in his novel “Snow Crash” (affiliate link) in which he described 3D characters meeting a building in a completely different environment and performing actions as the story moves on.

Later on, this idea actually got many scientists and developers interested in it, and they started searching on it so much that it eventually led to its implications in various ways.

Current standing of Metaverse

The current standing of the metaverse is quite astonishing as it has been implemented in various ways in different areas of various industries. The term metaverse is also being used as a monopoly to get the attention of many people and eventually increase the market sales of various brands but that’s not all. Famous and established tech tycoons like Facebook and Microsoft are behind the concept of the metaverse. The main aim behind this race is to actually develop a proper 3D Metaverse for people to have the proper usage of a 3D atmosphere and even stay connected while they are far apart.

Timeframe

Mark Zuckerberg, the CEO of Facebook now known as Meta has given the idea that it will take at least 10 to 15 years for Metaverse to actually come into existence however the traces of its presence can always be seen around us. He believes that not only Metaverse is something interesting but also will replace the internet or the way we use it currently. The simplest example is of gaming consoles, headsets, high-speed internet access, and various internet tools can be seen around us however not everyone has that kind of access to things still they are within our generations now.

Modern Usage of Metaverse

The whole thing mentioned seems quite interesting and fun to try outright? You might be pondering about its modern-day applications or places where you could actually see Metaverse being used. Well, nothing to worry about as there are a lot of infrastructures where you can actually see the application of Meta space.

Epic Games

Epic Games is one of the big names you are going to hear in the Metaverse race. Tim Sweeney, the CEO of Epic Games and the creator of Fortnite has claimed that Epic Games has been trying to build the metaverse from the start. Well, that’s true as they have conducted virtual concerts with Ariana Grande and Travis Scott. The best one that was liked by a lot of people was the reincarnation of Martin Luther King, “I have a Dream….” Speech.

What is Metaverse: An Outlook

The thought about Metaverse is one of the most creative ideas ever given to humanity however various complications need to be dealt with at first. The concept of Metaverse is really great to be studied however the current technological limitations make it really hard to completely create a full meta space. Moreover, technological devices as VR and AR are too much expensive to be owned by everyone. Hardly believe getting their prices down lets everyone have a great and comfortable enjoyment of the metaverse. However, this whole thing is a dream to come true and we all await what happens next.

Also, I am very interested to see how this topic will influence banking. Let’s see what the so-called neobanks (see What You Need to Know About Robinhood (before your clients ask) or traditional banks make out of it.