Metaverse

Ankita Ajmani           30 March 2024

To streamline it or make it more straightforward, the metaverse refers to a developing digital realm that incorporates virtual reality, augmented reality, and other advanced internet like IoT and semiconductor technologies. It enables individuals to engage in realistic personal and business interactions online. If you are uncertain about the difference between augmented reality and the metaverse, you are not the only one. The emergence of the metaverse is still in progress, resulting in numerous uncertainties regarding its nature. Augmented reality (AR) is a constituent part of the metaverse, as individuals will access the metaverse utilising virtual reality (VR) and AR headsets. Companies such as Meta, Google, and Apple are developing virtual reality (VR) and augmented reality (AR) devices that anyone can use to enter the metaverse. Presently, the majority of metaverse encounters are predominantly located within gaming applications. Mark Zuckerberg defines the metaverse as an immersive internet environment where self-expression is centred upon creation, avatars, and digital products. This concept opens up new experiences and economic possibilities.

What does the metaverse look like?

Currently, there is a lack of understanding regarding what it looks like, but many virtual reality (VR) applications and games utilise avatars, which are digital representations of oneself that may be personalised. This could perhaps serve as a viable alternative for the metaverse.
Several companies, including Facebook, have already made progress in the field of virtual reality (VR), using advanced eyewear and high-quality visuals to immerse users in virtual worlds that are realistic in appearance, sensation, and sound. Additionally, there have been significant advancements in other technology, such as smart glasses that incorporate augmented reality. In the future, other screen-based access points may probably emerge, such as smartphones, PCs, and TVs.

The Metaverse Now?

A more precise depiction of the metaverse's appearance can be observed in simulated worlds such as Roblox and Fortnite, however, even these have their limitations. Alternatively, consider these user-controlled worlds as enclosed environments resembling 3D "walled gardens" that encompass metaverse-like encounters within a self-contained system. Similar to the early stages of the internet, the metaverse will require time and innovative advancements to surpass its current artificial limitations and evolve into a more advanced state. Nevertheless, consumers, businesses, and even celebrities have not been discouraged from taking advantage of the initial potential of the metaverse.
In reality, the concept of the metaverse can be understood as a modern iteration of the internet. This concept was conceived as a novel type of setting that enables a heightened level of engagement in interactions with others. It encompasses a diverse range of products and technology, including non-fungible tokens (NFTs) and cryptocurrencies, three-dimensional avatars, decentralised applications, virtual environments and realities, the opportunity to earn rewards, participate in airdrops, engage in transactions using smart contracts, do business in a digital realm, and so much more.
In short, the metaverse is a virtual realm that serves as an alternative to the physical universe. It encompasses a variety of interconnected worlds and environments, where assets and experiences may be shared and used across different platforms. The virtual world is characterised by avatars, digital objects, and functional economies, where technology is not merely a tool but rather a pervasive entity.
The metaverse possesses immense potential to revolutionise interpersonal communication. Moreover, it has the potential to revolutionise business operations, reshape consumer spending habits, and influence expenditure patterns. It also has the potential to be the next stage in the technological and social advancement of the entire human species. Currently, the metaverse is primarily a form of exaggerated marketing, similar to how computers and the internet were initially perceived. In under a century, humanity has progressed from using typewritten letters to employing AI-based marketing and business strategies. When the metaverse emerges, it is highly likely that it will also flourish, similar to the widespread success of the internet.