What is Metaverse ?

What is metaverse

Metaverse is a virtual reality space where users can interact with other users in a computer-generated environment. Metaverse is a digital reality that includes aspects of social media, online gaming, augmented reality (AR), Virtual reality (VR), and cryptocurrencies which allow users to interact virtually.

Facebook recently rebranded itself with a new name “Meta”.

Meta is derived from the word metaverse.
This is very much popular among south Korean millennials and Genz who love to gather themselves in virtual alternatives worlds. In industries like tech and business, the term metaverse is fast becoming a buzzword. Metaverse is a broad term and simply, here is our definition:-

Metaverse refers to online spaces that allow people to interact in a more engaging way than traditional websites. Now it can be through the use of virtual reality (VR) by wearing a headset. But people use the term metaverse to refer to virtual environments where you have an avatar a little cartoon-like person representing yourself and you can walk around and interact with other people’s avatars in a video game.

Fans of the metaverse consider it to be the following stage in the improvement of the web.

Meta Ceo Mark Zuckerberg said in July that Facebook will transition from being a social media company to a metaverse company in the next 5 years.Mark Zuckerberg stated that Meta had already invested heavily in developing virtual and augmented reality headsets and glasses. And this will create 10,000 jobs in the European Union to bring their metaverse plans to life.

And meta is certainly not alone other investors and companies are getting excited about the beginning part of the next big thing.

In silicon valley, the term metaverse is very much popular.

Microsoft also talking about converging the digital and physical world.For the past 18 months, people around the globe have been working from home and attending school online due to global health crises. People have been spending a lot more time online and missing out the Human interaction. At the moment we can connect with the people who aren’t physically with us just by login into social media websites or using messaging apps and video calls. But after this pandemic, some people think that there is a huge demand for online spaces which allow people to interact in a more multi-dimensional way and allow people to imbue themselves in digital content rather than simply viewing it.

Blockchain technology is also a specific type of metaverse.

This same technology is behind bitcoin. Other than that there is a blockchain-based virtual world I.e decentraland. Here users can buy digital assets like clothes and even land using cryptocurrencies.

Nowadays seeing the popularity of metaverse many fashion companies wanted to capitalize on this trend, they have been experimenting with making virtual clothing. Which people can buy for their virtual self and can wear in a metaverse environment.

Sci-fi films are set in the completely fledged metaverse or substitute digital world. That is almost very alike to real physical life but that’s still the stuff of fiction at the moment. The virtual spaces I have seen recently look more like the inside of video games than in real life.

Is web 3.0 is the next version of the internet.

Web 1.0 looked like this website.

It only consists of a page with a bunch of text and some hyperlinks to more pages with more text. There was no interaction, no user-generated content. We can say that there was pretty much nothing but text on a screen.

Web 2.0 is what we currently use. It’s a large community-based web. Where we can see that most of its content is user generated. This content is highly interactive. But the thing is there is only one thing you can buy and own on the internet and it’s a domain name. Just like we own Thinkbizarre.com. Nobody in the world can make another website with the same domain name everything else is owned by corporations.

Web 3.0

The most important thing one can do on web 3.0 is own parts of the internet. Here everything which is made by you and bought or sold on the internet is yours and you have the full rights. This is possible because of a new technology called blockchain and more specifically because of Nfts.

They are the foundation blocks of value in the metaverse. You probably have an idea of what they are. But most disregard them as useless pixels on a screen for which some idiots pay millions of dollars.

Nft provides ownership because it can be tracked in the blockchain and most importantly it cannot be copied.

Many people fail to see is what nfts can become in the future, the same way websites transformed over time.There is a great tweet that says something like

People say NFT’S are a scam, but they post their original creations on Instagram in exchange for the digital heart.

Internet owned by individuals.

Once blockchain becomes mainstream the internet will be owned by the individual.

Metaverse is the rise of individual ownership.