Aren’t you hearing everyone discussing “Metaverse”?
What is metaverse? How is it expected to impact our lives? What are new possibilities that excite people about it? And, when it would be possible for a normal person to experience this new digital universe?
These are the common questions people are buzzing about in day-to-day conversations, or on social platforms. Business owners, experts, futurists, gamers, and all those who are not living under a rock want to know about it!
And, those who know about it had not expected that metaverse could be a reality so early; it was just a matter of science fiction novels, movies, or virtual games. However, after Mark Zuckerberg announced the change of brand name from Facebook to Meta, people began to take metaverse more seriously.
Google searches boom for the keyword “metaverse”, which could be clearly seen in the Google Trends.
Peoples are excited about it, making various assumptions and predictions.
It is the next big revolution in digital-based social interaction. And, wait! It’s not just about social interaction, but about the way we live on this planet. It’s about everything from what we think to how we meet, and the way we conduct business, shopping, relationship, traveling, entertainment, and all.
The present-day Internet along with digital technologies, artificial intelligence, graphics processing, etc., made it possible for companies such as Roblox, Meta (Facebook), Microsoft, and many more, to bend their priorities towards metaverse, chasing to lead the revolutionary outbreak.
In this article, we will learn in-depth about metaverse, its merits, and demerits, aim, possibility, objective, etc.
Metaverse is the future of all of us. So, let’s learn all about it.
What is Metaverse?
Metaverse is a new Digital Universe.
The word “meta” means beyond, while “verse” is a short version of Universe. Together it means something that’s beyond our real physical Universe.
In the past, digital technologies have advanced form of a level of communicating with text, pictures video call to virtual reality, augmented reality, artificial intelligence-based simulations, etc. In fact, these are still existent in various digital games such as Roblox, Second Life.
For example, Roblox provides a completely new environment for real persons to play games with their own built Avatars. Further, they can invite their friends and interact, communicate and carry out shopping, celebrate all in the digital environment but with real identity. As it was observed during the time of the COVID-19 pandemic when Roblox users rate increased by 40%
However, these games were not so immersive, as the users are just watching on the screen while our aviators are inside the game. But with new present-day technologies such as advanced headsets, brain-computer interface, IoT, etc., it would be possible to build a whole new digital space that is far more immersive and impressive than what we have seen so far in virtual reality games.
One thing to note down carefully; metaverse doesn’t mean Facebook (or Meta). It is a concept of parallel universe, or a virtual life or embodied internet where you can work, network, play, shop, etc., and live in a completely different reality. You and the other users of the metaverse will be represented by their avatars.
Avatar: An avatar can be described as a figure or personality representing a specific person or identity. It is commonly used in online games.
Metaverse is not a company. It’s an idea of a new digital Universe.
But, realizing the importance and opportunities of the metaverse, and with a mission to lead metaverse, Facebook rebrands itself with a new name “Meta” to reflect its committed vision towards it. Apart from Meta (Facebook), there are other companies chasing down their mission and technologies to build their authority in the new virtual reality space.
It’s a shared virtual digital reality—a new universe for the future generations pivoted particularly on digital technologies. This reality is isolated from the one we experience in the real physical world.
However, efforts are being made to make the metaverse seamless with the real world. People can get in-and-out between the two realities without any abrupt change in perceptions, converging the virtual reality, augmented reality, real-world, and metaverse into one.
Source: YouTube (Meta)
When you connect with people using the internet, you share videos, photos and communicate through texting and video calls. Using all these features, you feel close with your loved ones however, with metaverse, you will feel you are right there. Metaverse will help you in forgetting the distance between you and your mates by allowing you to feel more connected through a virtual world.
For instance, if you are playing a game with your friends in the metaverse, you will actually feel that you are in the game with your friends and not just playing it on a digital screen.
Its Aim
Metaverse is another revolutionary advancement in human creation.
Companies such as Meta (Facebook), Microsoft, Epic Games, Niantic, Decentraland, Apple, and many others are trying to build a new Digital Universe, metaverse, to take their business to a next level, to compete with their competitors and build an immersive experience for the users from the real world.
The aim of the metaverse is to make the experience of internet usage better by making people feel more close and present in conversations and meetings rather than staring at a screen.
“With Metaverse, you are not just looking at the internet, you are inside it”.
– Mark Zuckerberg
Many people think metaverse will increase internet usage and will eventually increase screen time however its CEO aims to make the time already spent on the screen better and more interactive rather than increasing it.
Some of the common objectives of metaverse include:
- To build a digital world more immersive to carry out day-to-day social interaction more insightful and engaging.
- To make the gaming experience to the next level
- Improve the productivity of an individual by building seamless tech-human interaction.
- To make virtual business meetings and gathering more real
- Carry out trade and business on real and virtual products
Apart from just these initial objectives of the metaverse, a whole new set of possibilities will be added as this new digital reality progresses.
Is It Really Possible?
Creating a new complete reality is not an easy and one-man task. It’s much more than creating a product or software.
So, the obvious question is: Is metaverse really possible?
Bluntly speaking, Yes! It is possible.
With the advanced technologies and constantly work towards it involving huge investments from big companies, and also from the users is building the metaverse. It is also said that metaverse can be used with or without a VR headset. It is difficult to believe but a whole new Earth can exist too, however, many people have started to believe in it.
The next 5 years or even less would be more exciting as well as critical for all the digital species. Lifestyle, health, relationships, business, finances, sports, entertainment; all would show a dramatic shift than what’s without metaverse.
When is it Coming?
It has already started! Metaverse is coming; even you like it or not!
Big tech giants, investors, programmers, experts, tech investors, etc., are constantly working on the metaverse as they all have realized that it is the next big digital revolution. And, no one wants to be left behind!
Huge capital has already been invested in it by several companies. It is believed that metaverse can come into the existence or will almost be prepared in the next 5-10 years.
Why Did Facebook Change its Name to Meta?
Facebook recently changed its brand’s name to Meta, with an M-shaped infinity loop modified symbol logo.
On 28 Oct 2021, the CEO of Facebook (Meta) announced this major change to bring down all apps and technologies under one common mission. The mission of Metaverse!
Why did Facebook (Meta) take such a major step; which has led many people confused.
Well! Facebook is a social networking giant company with thousands of experts and research and market analyst. Their every step is well calculated for the growth of their company.
Facebook has estimated a huge possibility in the metaverse. And, in fact, they started working on their metaverse dream years before when Facebook acquired Oculus at approx. $2Billion in 2014. Back then, Mark Zuckerberg has said,
“Mobile is the platform of today, and now we’re also getting ready for the platforms of tomorrow. Oculus has the chance to create the most social platform ever, and change the way we work, play, and communicate.”
– Mark Zuckerberg
And now we understand what he meant by these words!
All those announcements, including the brand name change to Meta, are a clear indication of the metaverse.
Moreover, Zuckerberg also says, “this is because the company has more work and products linked to it and not just Facebook. This is another reason for the rebranding of Facebook to Meta.”
How Does Metaverse Impact the Internet?
If metaverse turns out to be successful, it is believed that it will replace the way we use internet today, because of the following two reasons:
- Metaverse will have own ways of using internet in the virtual world, different from one we use in real life.
- The Internet allows you to use it whereas metaverse will allow you to be in it
Metaverse can also be said to be the advanced version of the internet. With the success of the it, the internet might get outdated in some years and will be used by a few individuals only. If more and more people will switch to the virtual digital world, it will soon become a requirement and not a choice
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Companies Involved in Metaverse
Many companies are willing to invest and work on metaverse these days. This is because of the advantages and revenue it will generate after creation. Below mentioned are some of the top companies working on it. Let’s learn about them and their role in Metaverse.
1. Meta (Facebook):
Facebook is trying to lead metaverse as it changed its company name to Meta. Mark Zuckerberg is also creating awareness about it and how it will bring a great change in the internet and technology.
If Metaverse turns out to be a success, then Meta(Facebook) will handle the majority of the apps used in metaverse as well as the headsets required to use metaverse.
2. Google:
Google has maintained an excellent record in augmented reality and on the metaverse, it will be working on AR.
They also believes in the metaverse and supports it. Google’s role in it is to use Avatar in order to combine the physical and digital world.
3. Microsoft:
Microsoft is playing a crucial role in the development of the Metaverse.
It is developing a software named Mesh that will help be installed in the VR headset that will give you a real-time experience of working in an office and Microsoft will also be creating an avatar that will be your identity in the virtual world.
4. Epic Games:
With funding of 1 billion dollars, Epic Games are also involved in the creation of the Metaverse. The reason behind the involvement of Epic Games is it has released one of the finest games in 2017, named Fortnite.
This company has good experience in AR and VR, which is much needed for the creation of Metaverse.
5. Tencent:
Tencent is widely famous for its advanced creation in gaming as well as the development of images, videos, and text exchange in social media apps in China such as WeChat. It’s a Chinese-based company that made it possible to play a game like PUBG on mobile phones with your friends online at the same time.
Tencent has shown major interest in metaverse in the past few months through sharing its idealogy and offering investments.
There are many other companies as well working to build metaverse. The reason behind the involvement of these companies is they believe in this digital reality and it’s a success.
Is It good or bad?
Metaverse has its own merits and demerits.
But, what’s interesting with this revolutionary idea in its context of advantages and disadvantages; it takes both of these to the extreme.
In other words; if the metaverse has extreme advantages then in the same proportion it has extreme disadvantages too.
Let’s dive deeply into its functions to decide how good or bad it is.
Advantages:
- You will be able to attend all the meetings and classes without being physically present.
- You will feel more connected with your friends and family while communicating.
- The screen time will become more interesting and fun
- You don’t have to physically go outside if you don’t wish to
- It can be one of the most imperative and effective technological inventions
- The world be more digitalized
- The car will less be used; good for the environment
Disadvantages:
- Metaverse will increase screen time
- It can be addictive
- With the increased usage of the metaverse, it can lead to mental stress and anxiety
- Not good for physical health
- It is a danger to a physical business
- Will reduce physical meeting, hangout, classes, and gathering
- It will increase competition among companies and businesses
Metaverse is coming and debates on its pros and cons will continue to take place. With advancement, some people will accept, some not, but whatever happens, companies and tech giants will continue to invest in building metaverse.
Is Covid 19 an Aid to Metaverse?
Covid 19 pandemic has increased usage of the internet more than ever. Schools and colleges started teaching online, work from home became the new normal and many enterprises grew their presence digitally.
It can be considered that the pandemic has shown the importance of the internet that might have been an aid to Metaverse.
Individuals who lack technological skills also switched to digital work for survival. If the pandemic continues to grow or any other disease like Covid 19 comes into existence, it will help metaverse growth and will increase its users.
Difference between Metaverse and Multiverse
We all know what the Metaverse is. Let’s find out what is a multiverse
What exactly is a multiverse
Multiverse is the collection of all the universes, that is, consisting of the galaxy, space, time hypothetically. Various research has been done on Multiverse and it’s still going on. Some scientists believe that the multiverse can exist while some oppose this. According to research, there are 10% of the existence of the multiverse.
How is metaverse different from multiverse?
Both are two completely different concepts.
- Metaverse is a virtual reality whereas there are just predictions of the multiverse. If the multiverse comes into existence, it will be real and not virtual.
- Metaverse is an invention while the multiverse will be a discovery.
Increase Health Issues?
Metaverse will have a direct impact on physical as well as mental health. This is an important aspect or disadvantage of metaverse as mentioned by the professionals.
Effects on the physical health
With the internet, physical health illness has increased substantially. Especially the young generation, they have stopped going out for physical activities and started investing their time in movies, games, and texting.
In the metaverse, the usage and addiction will certainly increase amongst youngsters and will lead to major health issues such as obesity, sleep problems, improper schedule, major back problems, and weak eyes due to too much screen time as well as hearing illness due to electronic headsets and earphones.
Effect on the Mental health
The Internet has made things possible that we never imagined and made survival much easier. Along with it, the internet gave birth to online trolling and judgments that lead to anxiety, depression as well as suicidal thoughts in some cases.
With Metaverse, mental health cases will increase. Comparison of different platforms and pictures online, trying to outshine others, getting judged by unknown people will make users anxious.
Marriages in Metaverse
Marriages are taking up a new shape with the rise of the Metaverse. With the first metaverse reception of India, Tamil Nadu couple, Dinesh S P and Janaganaandhini Ramaswamy are all set to marry in Hogwarts theme in the metaverse reality, with all their friends and family connected with the virtual avatars from across the world.
It’s the beginning of the marriages in the metaverse, and a whole new trend of marriages is expected to come ahead after this wedding (February 2022). Possibilities in the metaverse are making dream marriages for the couple; freedom to choose desired themes, inviting people across the world, organizing events in a much easier and affordable way.
source: Twitter
In fact, metaverse gives your freedom to build avatars for late-family members and feel virtually with them in your marriages. You can bring your late grandparents and take blessings from them.
This makes me think; what if in a better future ahead, all past personalities will virtually be alive; Einstein will be there to join Science conferences, Newton would be giving Physics classes, and, you could actually paint with Leonardo da Vinci; metaverse is filled with possibilities.
Will the New World End the Physical Business?
With the success of Metaverse, the existence of physical business might be in danger. With online shopping, the downfall of local businessmen has already started!
However, with metaverse, it can lead to the end of the physical business within the next 20-30 years.
The reason behind it is purchasing goods online saves time, can be done at any time, and also saves the cost of traveling. Whereas physical business lacks all these pros of online business.
The one major disadvantage of online business is reliability and quality that will probably be resolved by virtual reality technologies.
How to Earn from the Coming opportunities?
Without Metaverse in existence, people are still investing in it and making money through it.
- The first way to make money is by investing in its shares. The top two metaverse stocks in which you can invest are Nvidia and Unity Software.
- Metaverse Property, the world’s first virtual real estate company, is allowing people to purchase and sell virtual land. You can learn to purchase real estate in the Metaverse and invest in it. (Beware of scams)
Conclusion
To conclude, the metaverse can have unlimited possibilities once it comes into existence. It has multiple advantages however its shortcomings are already noticeable.
Metaverse is trying to create better technology for the users and its aim is to improve the facilities already available. However, it can also affect the physical and mental health of people and can be a new addiction for the kids.
It can either be the greatest technological invention of all time or a major failure that will waste billions of dollars including the time and efforts of experts who are involved in its creation.
Despite the disadvantages, it is one of the most exciting and challenging inventions that people all over the world are waiting for to be true.
What are your views on metaverse? Are you excited about it or are you against this change?
Definitely, it’s exciting. and we can’t stop it even if we want to. It will come and we have to work accordingly.
Thanks For Sharing! Metaverse is surely going to be the future!
The looks so detailed and factual….kudos to you for writing this blog and sharing with us. I have especially loved the way u added the graphs here. Way to go @ Jasveen 😇