It’s no secret that Big Tech wants to spice up your virtual life with the metaverse. Since last year, companies have put plans in motion to make the virtual space a reality: Microsoft bought a major game developer . Google’s reportedly got plans to build AR gear . And Facebook gave the ultimate flex when it rebranded to Meta . Then there are major retailers like Nike, which is planning to sell virtual sneakers .
But what exactly is the metaverse? Scenes from “The Matrix” or “Ready Player One” might be floating around in your head. The truth is that the metaverse can be a virtual space where you can do just about anything. And if that sounds a bit scary — and exciting — then you’re not alone. Here’s everything you need to know about the metaverse, from how to use it to the security concerns it’s raising. What Is the Metaverse?
Hi, it’s the future. But the word “metaverse” actually first entered the chat in 1992. When Neal Stephenson coined it in his sci-fi novel “ Snow Crash .” In it, the characters use avatars in a virtual world to escape their bleak reality. Stephenson later told Vanity Fair he was just “ making sh*t up .” But Big Tech said ‘hold my beer.’
Why now? There could be a variety of reasons from the fact that online connectivity and tech has improved , to the pandemic pushing people to go remote. Not to mention, the metaverse offers an opportunity to merge several on-going online ventures: shopping, entertainment, and work productivity.
The metaverse will basically be an advanced version of the internet. And will be made up of a number of 3D virtual environments or worlds that are connected. It’s virtual reality (VR), meets augmented reality (AR), meets NFTs, meets social commerce. Users will be able to create an avatar (your cartoon mini-me) to move between digital spaces to shop and socialize. (*Insert twin emoji.*) And it’ll be done with the help of AR glasses, VR headsets, smartphone apps or other devices like computers and gaming consoles.
Right now, people jump from website to website on the internet. But the metaverse will make it possible for avatars to move around different digital worlds. That’s one way to satisfy your wanderlust. Before we get into how you’ll be able to use the metaverse, let’s talk about why… Design: theSkimm Don’t rush to pick out your new virtual OOTD. The metaverse is still in the early stages of development . While it’s not fully here, there are some ways you might be experiencing it: Video games : Games like Fortnite include metaverse elements like avatars that interact with other players. Players can also get virtual currency (hi, crypto) to dress up their avatars. And gaming company Roblox already allows users to create their own worlds (more on Roblox in a bit).
Second Life : It’s a virtual world that launched in 2003. And allows users to create an avatar that can hang out with other users and shop. It’s been described as a metaverse . And while its popularity peaked in the late 2000s, the company’s now trying to make a name for itself in the next digital frontier.
At work : The collab between Microsoft Teams and Meta’s Workplace is giving people a taste of how platforms can integrate and work together in the metaverse. Both companies allow users to access content from Teams (think: streaming video) and Workplace (think: comment features) without having to switch between apps.
NFTs : Aka Non-fungible tokens . Which are digital collectibles. They represent ownership of digital art, images, and video games. And NFTs are expected to do the same when it comes to representing assets in the metaverse.
Cryptocurrencies : There are thousands of cryptocurrencies . Ranging from the not-so-bitsy Bitcoin to the confusing parody that’s Dogecoin . This digital money is very volatile. But has grown in popularity — especially when it comes to participating and building in the metaverse.
There’s a lot of hype surrounding the metaverse, especially as people throw real-life money at creating immersive 3D environments. Case in point: Real estate sales on four major metaverse platforms topped $500 million last year, according to one analysis. And that number’s expected to double this year.
Those with deep pockets have already started investing. See: Paris Hilton’s virtual island. And Snoop Dogg’s Snoopverse, which apparently already has people spending hundreds of thousands of dollars just to be his neighbor. […]
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