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Metaverse is a virtual reality platform that allows people to interact online. It goes beyond the dull and mundane net browsing experience that we have become so used to. Mark Zuckerberg introduced Metaverse as the next frontier of social networking that transcends our online experience into a three-dimensional virtual reality. Next in line is the tech giant Microsoft which is planning to switch to 3D meetings using artificial intelligence. Last but not the least, Nvidia’s Omniverse connects 3D worlds into a shared virtual universe. It is a cloud-based platform that runs on RTX-based systems that can be accessed remotely.
Metaverse Is Not Just A Video Game
Online games like Minecraft, Fortnite and World of Warcraft are somewhat similar to the concept of Metaverse. In Minecraft players can build castles using building blocks and stop the monsters from stealing their resources. Metaverse on the other hand is aiming to create real-life scenarios in a virtual environment such as going to work and attending meetings using an Avatar. It is a virtual representation of your real self that can be customized as per your preferences. An Avatar can be similar to your personality in the real world, or it can be completely different. You can do whatever you want in the metaverse. You are only restricted by the limits of your imagination.
- In the Metaverse, things can be owned, sold or traded. These things can be common or rare, creating an economy within the Metaverse.
- Metaverse is also being used by companies for advertisement. It presents a lucrative opportunity for companies to reach out to the masses.
- The real aim of Metaverse is to replace reality by enabling human interaction in virtual reality using AR goggles and VR headsets.
- Microsoft is planning to create a virtual work environment where employees can perform their tasks in virtual reality.
The Connection Between The Metaverse, Cryptocurrency and NFTs
Decentraland is a sandbox-like metaverse that allows users to purchase land using MANA, a cryptocurrency used in Decentraland. It is a perfect example of a decentralized network where your assets are not controlled by the owners of the Metaverse. The Metaverse can only be destroyed by a majority of votes until then the Metaverse remains intact. NFTs are another example of assigning ownership to virtual goods. Metaverse has given birth to a whole new economy where people can buy virtual assets using cryptocurrency.
The Dark Side Of The Metaverse
Some experts believe that Metaverse can further increase the release of carbon emissions in the world. Metaverse heavily relies upon Artificial intelligence and Cloud-based technology. According to a report released by UK based digital transformation consultancy ECS, a single AI model can generate somewhere around 626,000 pounds of Carbon Dioxide. According to a survey done by Lancaster University academics, 30% of gamers have moved to the cloud which will eventually result in an increase of the carbon emissions by 30%.
The Future of The Metaverse
Many Popular artists like Travis Scott, Ariana Grande and Justin Bieber have also used the Metaverse to perform musical concerts. Decentraland is going to organize their first metaverse fashion week on 24th March. The attendees can buy wearables for their Avatars using Ethereum. In the future we might be working in a virtual office, attending virtual concerts and buying virtual land. It might be difficult to differentiate between the real world and the virtual world. The thin line between the real and the virtual world might simply fade away. We might even prefer being in the virtual world to the real world to escape the harsh realities of life. The future of Metaverse is exciting, dangerous and unpredictable, but one thing is for sure Metaverse is here to stay.
Moin is a techno-geek and thoroughly enjoys researching anything tech. He explores different topics and publishes them in a way that makes it easier for people to understand. He has a long list of publications on the ITES industry and contemporary technological advancements as it helps him to keep in touch with the changing trends. Cloud-based technology is one of his favourite topics as it keeps on changing and it constantly keeps him on his toes as a writer.