While watching the movie Avatar, at one point you would have thought, can it even get real? Fast forward to 2021, we are living in the metaverse. The technologies like AR, VR, Blockchain and NFTs have created an alternate reality. So next time if a vending machine pops out of nowhere, don’t get surprised. Maybe your wife needs something and through brain wiring in the metaverse, you know it. Hop into the store and buy the essentials. That makes us question: what is the Metaverse?
What is the Metaverse?
The Metaverse is a parallel universe existing in virtual space. In the metaverse, as a player you can create your own avatar and interact with others there. There is a wide range of activities to perform like creating in-world objects, building landscapes, or owning land. On the metaverse, you can do everything possible in the real world. However, the only difference is the lack of real human feelings. Like you cannot experience the sense of touch or other things in the metaverse.
What Will the Metaverse Look Like in the future?
The last century led to the proliferation of the internet and mass-scale production. The coming century will introduce the internet of value, Web 3.0, and virtual reality. Metaverse will be the front-runner to establish the experience through AR, VR, and blockchain. On top of this, Metaverse will also create one global village. Like the Internet breaking barriers to connection, metaverse will break barriers to value exchange. For example, at the moment, if you get a voucher from one store, you can redeem the same in that store only. With the help of metaverse, you can redeem it anywhere and at any store. This is the tip of the iceberg.
In the future, metaverse could even break barriers to entry outside geographical boundaries. For example, Together Labs, a technology company in the US announced V-Core’s availability across the globe. With the help of the V-Core’s, ERC 20 standard token, anyone can interact with the metaverse and sell stuff. Imagine you are buying from your favorite store in NYC while you are sitting at your home in Japan. That’s how the metaverse is going to change the reality of the future.
How Facebook is establishing its image as the leader of the Metaverse?
It was back in 2014 when Facebook acquired Oculus. At $2.3 billion, most experts suggested another takeover of Facebook like Whatsapp and Instagram. In reality, Facebook had already anticipated the future. Hence, the company heralded this concept way back in the past. At present, there are over 10,000 people on Facebook working on the metaverse. They want borders that shouldn’t suppress thoughts and feelings.
Using the metaverse, anyone can be with anyone irrespective of boundaries. Furthermore, Mark Zuckerberg wishes to create room for physical displacement. What does it mean? Imagine sitting in your bedroom yet working at the office. Can the two things co-exist? Yes, in the metaverse. In this way, it can improve the quality of life, relationships, and personal wealth. Facebook wants to take the Internet to the next level.
In the presence of a feud with Apple and Google, Facebook wants a world of its own. Using the Metaverse, Facebook can bypass all the restrictions put forward by Google and Apple on its business. These reasons are strong enough to make Facebook invest a lot in the metaverse.
Every technology has its own share of opportunities and challenges. So with metaverse, it wouldn’t be any different. At the moment, Facebook has piloted the metaverse. It is a good initiative nonetheless. Despite that, a company with a past reputation for data abuse. Wouldn’t it make it more powerful to broaden the range of technological abuse?
For example, Facebook would have full control on finger movements and facial movement. To make things more complex, Facebook could even read minds. In the past, technology giants like Google sucked at the metaverse concept. I hope the Google Glass reminds you of something. Facebook is on the path to explore the same. The only thing that favors Facebook is the trend. With the boom of crypto, NFTs and metaverse, there’s a good chance for Facebook to capitalize on this opportunity and script a new future ahead.