What is Metaverse? How Will It Affect the Future?

 

Metaverse
Metaverse

Various predictions have been made about the future of the Internet, and recently the most important of them is the "metaverse". Of course, these changes will have great effects for societies. In the new era, Metaverse will unleash incredible creativity and open new frontiers and horizons for brands and businesses.

The word “metaverse” is a new word derived from the combination of the meanings of the words “meta” (beyond) and “universe”. Metaverse is a collective virtual shared space created by the convergence of virtually augmented physical reality and physically persistent virtual space, including the sum of all virtual worlds, augmented reality and the internet.

The term "Metaverse" was first coined by science fiction writer Neal Stephenson in his 1992 novel "Snow Crash". In “Snow Crash”, the Metaverse is a hugely popular virtual world experienced by users equipped with augmented reality technology.

The lifelike virtual world is a shared sandbox where people are represented by digital avatars. The virtual world constantly grows and evolves depending on the decisions and actions of the society in it. People will be able to enter the metaverse completely virtually (i.e. with virtual reality) or interact with parts of it in their physical space with the help of augmented and mixed reality.

 

Why is Metaverse Important?

Even if the Metaverse lags behind the fantastic visions captured by science fiction writers, it is likely to generate trillions of value as a new computing platform or content medium. But literally, Metaverse is becoming the gateway to most digital experiences, a key component of all physical experiences, and the next great business platform. The value of being a participant in such a system is also great. Today, the “internet” has no owner, but when we look at the most valuable publicly traded companies in the world, we see leading internet companies in the top ranks. If Metaverse is really going to replace the internet, it could also show a big rise in economic terms. Metaverse can generate more and more opportunities than we see online. New companies, products, and services will emerge to manage everything from payment processing, authentication, recruitment, advertising, content creation, security, and more. This means that the jobs of many today's employees will end and transform.

How to Install Metaverse?

For the Metaverse to work, countless new technologies, protocols, companies, innovations and discoveries will be required and will not exist directly like “Pre-Metaverse” or “Post-Metaverse”. Rather, it will gradually emerge over time as different products, services, and capabilities integrate and fuse, but it's helpful to consider a few key elements that need to be fulfilled.

Metaverse requires infrastructure that does not currently exist. Because the internet was not designed for anything close to this experience, it was designed to share files from one computer to another.

Metaverse requires more than what video conferencing and video games offer, and a highly concurrency infrastructure. Most video chat programs allow up to a few dozen people to talk to each other. If there is a situation that reaches hundreds of people, a live broadcast image of a few people is delivered to the audience instead of two-way sharing.

 

Metaverse'ün Gelişimine Hangi Şirketler Katkıda Bulunabilir?

1. Microsoft

Microsoft has hundreds of millions of combined user identities through Office 365 and LinkedIn. It is the second largest cloud vendor in the world. It has a comprehensive suite of business software and services covering all systems / platforms / infrastructure. To that end, Metaverse offers an opportunity to reclaim the operating system/hardware leadership that Microsoft left during the transition from PC to mobile.

2. Facebook

While Facebook CEO Mark Zuckenberg hasn't made it clear of his intentions to develop and own Metaverse, his obsession with it seems pretty obvious. Facebook will be more impacted by Metaverse than any other company as it will build a bigger and more capable social graph and represent both a new computing platform and a new engagement platform.

3. Amazon

Amazon most obviously will always want to be the primary place we buy products from. In addition, the company is already the world's largest cloud vendor with hundreds of millions of credit cards. He's been working on a media provider, e-commerce platform, and reportedly AR glasses for a multitude of different consumers.

4. Apple

As you know, Apple owns one of the largest consumer electronics manufacturers and the largest game stores of the modern age. In addition, the company is investing heavily in AR devices and IoT technologies to help the Metaverse. However, creating an open platform where anyone can access all user data and device APIs goes against Apple's values and business strategy.

 

How Will the Metaverse Affect Our Lives?

Existing online platforms allow users to move freely for certain services and within certain limits, but limit interoperability between platforms. You can build anything in "Minecraft", but you cannot export your creations to a "Fortnite" map. Metaverse will allow users to create their own content and distribute it freely in a widely accessible digital world.

Unlike the modern internet, Metaverse users will experience all the changes in real time. If a user makes any changes to the Metaverse, that change will be permanent and immediately visible to everyone. Metaverse's persistence and interoperability will provide users with greater continuity of identity and experience compared to the modern internet. In Metaverse, users will not need to have separate Twitter profiles, “Fortnite” characters, and Reddit accounts, they will be themselves on all channels. This continuity of identity will be the key factor behind how users buy and consume content on the Metaverse.

 

When Will the Metaverse Coming?

There are still quite a few obstacles on the way to a true Metaverse. The biggest hurdles are also hardware limitations. Currently, worldwide networking and computing capabilities will not yet be able to support an enduring digital world that can be experienced in real time by millions of concurrent users. Even with this level of networking and computing power available, the energy consumption of such an effort would pose problems for both national electricity grids and the environment.

If the hardware and energy technology are sufficient, extensive cultural changes will be necessary to foster a true Metaverse development. Relatively high-quality virtual reality and augmented reality technologies are already available to consumers. According to a 2020 report by Thrive Analytics and ARtillery Intelligence, less than 20 percent of Americans are familiar with VR headsets. Also, experts predict that devices like VR and AR have a chance to surpass game consoles by 2025 at the earliest.

 

What are Metaverse Projects?

Metaverse Economy Projects

Companies will need to transform their marketing strategies from buying ads online to versions that can be used in a shared virtual economy. Companies will need to do market research on their new customers in the database. How people behave and what their preferences are in the meta-universe can be completely different from how they behave in real life and what they shop for.

Metaverse Culture Projects

In the Metaverse, people won't be wandering around one by one. They will form friendships and relationships that will influence their decisions. Brands will need to continue to adapt to playstyles and interactions. Customers will not only be able to talk to brands like on social media, but also interact with them in 3D form.

Metaverse Shopping Projects

Virtual fashion, avatars and virtual real estate (housing, cars, etc.) will have their own value in the Metaverse. Companies will have to design brands for different people at different stages of the economic situation. People who invest in metadata may have their own businesses and properties on the Metaverse, so there may be opportunities to partner with businesses that do not exist physically. Virtual fashion houses and designers will have the opportunity to enter an entirely new digital priority clothing market.

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