In our new series, we will take ten topics and explain them to you in the time it takes for your morning toast to cook, 2 minutes, that's all we've got, so here goes…
The Metaverse in 2 Minutes Flat (feel free to time yourself)
Zinnia has previously summed the metaverse up in the following rather complex sentence…
"The metaverse is a collective virtual space created by the convergence of virtually enhanced physical reality and physically persistent virtual space, including the sum of all virtual worlds, augmented reality, and the internet."
Let's break this down as we have done in our other two-minute blogs.
The devices we use for instant access to manage our financial, virtual, and physical worlds have allowed NFTs, blockchain games, and crypto payments to become mainstream. And as the underlying tech becomes more accessible, so does the metaverse. It is still unknown if we will ever reach a single, united metaverse; if so, it may be a long way off. However, we are already experiencing developments that could lead to its creation.
Virtual and augmented reality technologies have been around for a while now, but they have seen a recent resurgence in popularity. This is because they are rapidly being developed and improved upon, making them more accessible to consumers. As these technologies develop, the metaverse's future is becoming more apparent. The metaverse will be a virtual space where people can interact with each other in an immersive environment. People will be able to create their own virtual space or visit someone else's. The metaverse is a concept of an online, 3D virtual space connecting users in all aspects of their lives. It would connect multiple platforms, similar to the internet containing different websites accessible through a single browser.
Since the pandemic, many people have continued to work from home with only weekly visits to the office. The metaverse will accentuate this by allowing you to go about daily life, including work, in a virtual environment. In the metaverse, avatars represent workers, and virtual spaces replace offices, allowing you to meet and interact with your colleagues without stepping outside your house. It may even be that you work in the metaverse and obtain a percentage of your pay in a digital currency that can be spent online on blockchain-based collectibles or assets.
3D virtual reality games provide a glimpse into the future metaverse experience because they now provide services and features that cross over into other aspects of our lives. Players don't just play the game anymore; they also use it for different activities and parts of their online lives. New Massive Multiplayer Online Role Playing Games (MMORPG) powered by Web3 and blockchain technology allow vast numbers of people worldwide to play online in the same world at the same time.
The world we live in is not going to disappear anytime soon. Instead, it will evolve into an immersive experience, mixed between digital and physical, that will be tailored to our needs and desires. The metaverse will be an infinite virtual space that we can explore, create, and share.
Everybody is trying to stake their claim with big tech inevitably trying to lead the way, yet smaller players are also participating in shaping the future of the metaverse. It is clear from current developments that the metaverse will combine not only social media and gaming but also DeFi, decentralized governance, digital identity, and other applications. The success of blockchain, AI, and mixed reality technologies will be critical to the adoption of a metaverse.
Well, let's leave it there for the time being. Like with anything in life, the more you look into it, the more complicated it gets.
Further down the line, we will explain the metaverse in more depth and look at specific projects and how blockchain and cryptocurrencies are being used in the metaverse.
But, our time is up!
Next on the radar is Decentralized Autonomous Organizations.